Narrator: You can easily place a conditional order using the All-in-One Trade Ticket.
Screen fades to Schwab Homepage
Narrator: To begin, click Trade, then select All-In-One Trade Ticket. Mouse clicks on Trade, then selects All-in-One Trade Ticket.
Narrator: Then, click on Add Conditional at the bottom of the Trade Ticket.
Mouse selects Add Conditional.
Narrator: Conditional Orders can be used for various types of trades and are typically used to automate trading strategies to save time and manage risk.
On screen definitions appear.
Narrator: There are 4 Conditional Order Types. Options include One Cancels Other, which submits two orders at once. If either is filled, then the other is cancelled. Order 1 Triggers Other, which submits a second order if order 1 is filled. Order 1 Triggers OCO, which submits one initial order. If that order is filled, then 2 additional orders will be submitted. If either is filled, then the other is cancelled. Contingent, which automatically submits an order once a defined criteria is met.
On screen definitions disappear.
Narrator: To learn more about each of the Conditional Orders , click on the blue information icon.
Mouse selects Order One Cancels Other from dropdown.
Narrator: Once you select your desired Conditional Order, complete the order form by filling out relevant details about the security you’ll be trading. Certain conditional orders, such as One Cancels Other, Order 1 Triggers Other, and Order 1 Triggers OCO, will require you to fill out additional information for up to 3 orders. Contingent orders will require you to choose the criteria for the trade trigger.
The on screen form is filled out.
Narrator: Once you choose your conditional order type and fill out your information, you’ll be able to see the Estimated Amount of your order. Once you click on Review Order, you’ll see an overview of the information you’ve provided.
Mouse clicks on Review Order.
Narrator: After reviewing this information, you’ll need to confirm any alert messages for each order.
Mouse clicks alert check boxes.
Narrator: Then, click on Place Order to place your trade.
Mouse clicks on Place Order.
Video outro plays.
Discover how to place a conditional order using Schwab's All-in-One Trade Ticket.