Now, TradeKing clients can place the following advanced orders: Contingent, Trailing Stop, One-Triggers-Other, and the most recently introduced One-Cancels-Other. One-Triggers-Other (OTO) with a One-Triggers-Other order, clients can enter an initial order and place a second one that is contingent upon the fill of the first order. With One Triggers Other, clients are actually placing two orders at once. The first is sent to the market immediately, the second is sent to the market only when the first one is filled and it applies to both stock to stock and stock to option trades.
Don Montanaro, chief executive officer of TradeKing, said: Just like institutional investors, our clients want as much control over their own financial destinies as they can get. By expanding our advanced order capabilities, we enable individuals to program exactly how they want their next trading play to go, bracketing their positions on certain equities and options to help manage outcomes. It’s about empowering the independent investor to achieve his or her own investment goals.
