OCO orders

Traders Helping Traders
1

Anyone know if there is a way to set an OCO order on an open position? Basically I would like to be able to set a take profit and a stop loss on an open position

1 Like
2

I think there are examples in github provided by tradovate. but here’s what I did. Not all code is provided but should serve as a decent example


    async enterMarketWithStop(accountId, action, symbol, size, stopPoints) {
        const marketOrder = {
            accountId: Number(accountId),
            accountSpec: process.env.TRADOVATE_name,
            symbol,
            action,
            orderQty: size, isAutomated: true, orderType: "Market"
        }
        this.send(`order/placeorder\n${++this.messageCount}\n\n${JSON.stringify(marketOrder)}`)
        await this.checkOrder('isPositionOpen')

        //assume there is only ever one position one at a time. Brittle.. 
        const position = this.getPosition(symbol)
        assert(position?.netPrice, 'There must be a fillprice. if we are out of margin the order fails')

        const stopPrice = (action == 'Buy') ? position.netPrice + stopPoints*-1 : position.netPrice + stopPoints
        log.info('stopPrice:', stopPrice)
        const stopOrder = {
            accountId: Number(accountId),
            accountSpec: process.env.TRADOVATE_name,
            symbol,
            action: (action == 'Buy') ? 'Sell' : 'Buy',
            orderQty: size, isAutomated: true, orderType: "Stop", stopPrice
        }
        this.send(`order/placeorder\n${++this.messageCount}\n\n${JSON.stringify(stopOrder)}`)
        await this.checkOrder('isOrderOpen')
    }

The above uses the websocket api and doesn’t show position/order update code.