Log on to the member’s only site the night before each trading day. This will take you to the signals tab.
Place the trades according to the column “Action.”
We enter trades with a BUY or SHORT. Every entry – without exception – is done with a DAY limit order. The limit price is in the column “Limit Price.”
Each day the Action column will tell you what you are to do with open orders, orders that have been filled:
- HOLD means you do nothing.
- Sell (Cover) at Limit means you place an limit order to sell at the price in the Limit Price column. However, you have to get out of this position so you need to make a provision if the limit order price is not reached. This provision is an MOC (Market at Close) order to exit the position if the limit does not execute. These two orders need to be “tied” together so when one executes the other will be cancelled. We do this with a One Cancels All (OCA) order. Some brokers call this a One Cancels Other, or One Cancels Another.
- Sell (Cover) At Open. Here we place an MOO (Market at Open) order for the next morning.
Everything is explained in more detail here.
All orders you need are explained here.