Currently we have oco but a Triple oco would be better where
- Stoploss
- Trailing Stoploss
- Target
Example today i had a position where i had put a stoploss incase the instrument opened gap up or some freak/out of the blue thing. Target was if it opened at same price. Now stock opened at the same price but the option due to long weekend decayed as expected so opened a bit lower
Now if a Three oco system existed i could have put Stoploss, and if it opened side ways i could have a trailing and then a target, so in todays case instead of my target gtt triggering at 11 even though the option opened at 9 it could have stayed as a trailing stoploss, so as long as my option stayed and continued to decay/stay below 11 trailing would not have hit and i would still be in the trade with the option eventually decaying to 5 thus making way more money.
this although i think goes into algoish territory