In today’s video we’ll learn how to place OCO bracket order on the Power E*trade desktop trading platform.
OCO bracket orders can be used as a simple way to automate some of your trading. Creating an order ticket to close you out of your position if things go against you, while also placing an order to close you out if you hit your profit target. Whichever order fills first, the other order is automatically cancelled. So basically, you’ve got protection on one side, and a profit taking order on the other.
In this video we'll go through two separate examples. First on a position you already hold in the account then secondly on a brand new position we haven't bought yet. I’ll also walk you through doing this on stock and options, but its really the same process either way.
