Is My OCO set Up Correctly?

[XM911E3]

I am just testing using OCO on GES. I bought 10 contracts for 45 PUT OPTION on virtual trading at interactive brokers.

I bought my put option at $3.40 and I did an OCO which is

i) Take profit when it reaches $5
ii) Stop loss when it reaches $2.80

When either one is trigger, be it take profit or stop loss, the other one will be automatically cancel.

I just wanna check if my OCO is being set up correctly before I use it on my LIVE account. Please advise. Thank you.

 

[Businessman]

Quote from XM911E3:

I am just testing using OCO on GES. I bought 10 contracts for 45 PUT OPTION on virtual trading at interactive brokers.

I bought my put option at $3.40 and I did an OCO which is

i) Take profit when it reaches $5
ii) Stop loss when it reaches $2.80

When either one is trigger, be it take profit or stop loss, the other one will be automatically cancel.

I just wanna check if my OCO is being set up correctly before I use it on my LIVE account. Please advise. Thank you.

Seems ok, but you can use 'attach bracket' when you create your entry order, this saves a bit of time and is less error prone.

 

[XM911E3]

Quote from Businessman:

Seems ok, but you can use 'attach bracket' when you create your entry order, this saves a bit of time and is less error prone.

Hi thank you for your input. So I managed to set up my OCO correctly right? But I don't understand 'attach bracket'. ummm......Think should be ok if my OCO works heee....and I don't need to be infront of the computer the whole morning to noon.