What is a one-cancels-the-other (OCO) order, explained

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A one-cancels-the-other (OCO) order is a trading instruction where the execution of one order automatically cancels a second order.

A one-cancels-the-other (OCO) order combines a pair of different trading order types, such as a limit order and a stop order, allowing simultaneous placement of stop loss and profit objectives for positions.

OCO orders are conditional orders in trading used by traders to simultaneously place two orders: a primary order and a secondary order. They operate so that if one order is fulfilled, the other is automatically canceled. 

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