A bracket order serves the same purpose as a traditional take profit and stop loss, automatically closing your trade at a predefined profit target (limit order) or maximum loss level (stop market order) to manage risk and secure gains.
What is a Bracket Order?
A bracket order consists of a main market order along with two opposite orders (limit and stop market) to protect your trade on both sides—securing profits and minimizing losses.
Since we are trading futures, the terms take profit and stop loss are not explicitly used. Instead, traders need to place a bracket order (OCO) to set these levels.
Steps to Place a Bracket Order from the Chart
1. Enter a Market Order
Click the Buy or Sell button on the Chart Toolbar to place a market order.
2. Open the Order Management Panel
Click the "+" sign under your active order to expand the order settings.
3. Select "Exit OCO"
Click the "Exit OCO" button to add two opposite orders:
A limit order (to secure profit).
A stop market order (to minimize losses).
4. Adjust Your Take-Profit and Stop-Loss Prices
You will now see your market order along with the two opposite orders protecting your levels.
To modify the limit or stop price, click on the lock icon next to the price.
Adjust the values using the "+" or "-" buttons, or type the exact price manually.
Why Use a Bracket Order?
✅ Automatically protects your trade with pre-set risk management.
✅ Ensures one order cancels the other (OCO) when triggered.
✅ Saves time and reduces manual order adjustments.
Pro Tip
If you're scalping or actively managing trades, set your limit and stop prices based on points or a percentage move that aligns with your strategy.