The 1st trgs 3 OCO advanced order type is extremely simple to use and can add an extra layer of protection to a trade. This advanced order type allows you to buy a security and have 3 OCO orders ready to go right when the trade is filled.
Here is an example of orders placed into a "1 trgs 3 OCO":
BUY +138 JETS @26.64 LMT EXTENDED HOURS
SELL -46 JETS @27.81 LMT GTC TRG BY OCO
SELL -46 JETS STP 25.77 GTC TRG BY OCO
SELL -46 JETS @28.47 TRSTPLMT MARK-.10 MARK GTC BY OCO
SELL -46 JETS STP 25.77 GTC TRG BY OCO
SELL -46 JETS @29.14 TRSTPLMT MARK-.10 MARK GTC BY OCO
SELL -46 JETS STP 25.77 GTC TRG BY OCO
In the example above, I color coded each OCO set. You can see that the sequence begins with me placing an order to buy 138 shares of $JETS with a buy limit order. If the buy is not filled, the sequence does not execute at all. Once filled however, the sequence executes and creates 3 OCO orders.
Each OCO order provides both a STOP LOSS and a SELL LIMIT ORDER to take profit at different prices.
When working through this, I had hoped to create a simpler order where there was a single STOP LOSS and 3 SELL LIMIT ORDERs, but I wasn't able to make it work. (If somebody knows a way, let me know!)
