An optical tracking system has advantages for observing geostationary earth orbit (GEO) satellites relatively over other types of observation system. Regular surveying for unidentified space objects with the optical tracking system can be an early warning tool for the safety of five Korean active GEO satellites. Two strategies of positioning on the observed image of Communication, Ocean and Meteorological Satellite 1 are tested and compared. Photometric method has a half root mean square error against streak method. Also eccentricity method for initial orbit determination (IOD) is tested with simulation data and real observation data. Under 10 minutes observation time interval, eccentricity method shows relatively better IOD results than the other time interval. For follow-up observation of unidentified space objects, at least two consecutive observations are needed in 5 minutes to determine orbit for geosynchronous orbit space objects.