Managing Multiple Orders on One Contract

[Dinerotrader 10]

Is there a way to have 2 different positions on one contract in OEC. For example, say I trade oil get long at some major support level and plan to ride that position for several days. Then, in the mean time I see some good short positions for a 5-20 minute hold. How can I manage these positions?

[Cory2679 10]

Is there a way to have 2 different positions on one contract in OEC. For example, say I trade oil get long at some major support level and plan to ride that position for several days. Then, in the mean time I see some good short positions for a 5-20 minute hold. How can I manage these positions?

 

I don't know anything about OEC, but for the long crude example, you could just sell it then buy it back at a better price (ideally)...rather than having a short and long on at the same time (which is essentially the same thing as being out of the market...they cancel each other out).

 

If your short was going to be smaller than your long position, you could just sell some rather than all.

 

If you short was going to be larger, you'd have to sell the entire long position, then go short additional contracts.

 

It may be easier, especially if the short is larger than the long, just to have two positions on at the same time, though...maybe...

 

 

-Cory

Edited February 10, 2010 by Cory2679

[garak 10]

Is there a way to have 2 different positions on one contract in OEC. For example, say I trade oil get long at some major support level and plan to ride that position for several days. Then, in the mean time I see some good short positions for a 5-20 minute hold. How can I manage these positions?

 

Take different trading accounts for different strategies/timeframes. Otherwise hedging makes no sense at all. There is only long, short or being flat as Cory said.

[Dinerotrader 10]

Take different trading accounts for different strategies/timeframes. Otherwise hedging makes no sense at all. There is only long, short or being flat as Cory said.

 

That is what I thought. Managing trade of differing time frames sounds like a normal thing to me so I thought there might be a slight chance there was a way. I guess I could just setup with another broker for longer term positions.

[brownsfan019 16]

Dinero - you don't need another broker if you want to keep this simple.

 

Open a 'long-term' account at OEC then ask them to open a Trade Manager user for you where you can access both accounts w/in 1 login. Then you can trade in both accounts quickly and easily.

 

I'm pretty sure this would do what you need.

[Dinerotrader 10]

Dinero - you don't need another broker if you want to keep this simple.

 

Open a 'long-term' account at OEC then ask them to open a Trade Manager user for you where you can access both accounts w/in 1 login. Then you can trade in both accounts quickly and easily.

 

I'm pretty sure this would do what you need.

 

That is the answer I was hoping for. I like simple. Thanks.

[mattz 10]

Dinero - you don't need another broker if you want to keep this simple.

 

Open a 'long-term' account at OEC then ask them to open a Trade Manager user for you where you can access both accounts w/in 1 login. Then you can trade in both accounts quickly and easily.

 

I'm pretty sure this would do what you need.

 

I know this is an old post, but never the less, I wanted to address this topic because many traders trade number of strategies. We wrote an elaborate blog post to explain how it works on OEC trading platform. Block Account Allocation

 

I hope this helps.

Matt

Optimus Futures

OEC Trading Demo

 

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