OCO order is a kind of orders where you would be made possible to place an order for profit taking and loss cutting at the same time.
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Types of Orders - Forex Market - OCO Orders This stands for "one order cancels the other order."
Forex OCO Orders stands for "one order cancels the other order." Two orders are placed at prices above and below the current forex currency prices. When one trade is triggered, the other trade is canceled.
For example, say the price of USD/CHF has been hovering around 1.2435 for some time. You know its going to break out soon but you're not sure which way. You place an OCO order to buy at 1.2445 or sell at 1.2455. This way as soon as the breakout starts you can jump on board. The second trade is canceled as soon as the first is executed.
One Cancels the Other (OCO) Order - this is an order that is common in the forex and futures market. It is actually two separate orders that are linked together but are placed as one order. When one of the linked orders is executed, the other order is automatically cancelled by the system. A simple example will make this a bit more clear.
For example, say the price of USD/CHF has been hovering around 1.2435 for some time. You know its going to break out soon but you're not sure which way. You place an OCO order to buy at 1.2445 or sell at 1.2455. This way as soon as the breakout starts you can jump on board. The second trade is canceled as soon as the first is executed.
One Cancels the Other (OCO) Order - this is an order that is common in the forex and futures market. It is actually two separate orders that are linked together but are placed as one order. When one of the linked orders is executed, the other order is automatically cancelled by the system. A simple example will make this a bit more clear.
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Forex OCO Orders
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