Forex trading education - One Cancels The Other (OCO) Order
An OCO order is a combination of the stop order and limit order for a future transaction.
The trading platform follows the market for the trader, and will execute stop and limit orders (but not both) at the moment in which the market arrives at a limit order or stop order, the order will be executed and the order will be immediately cancelled.
The two orders are valid until they are cancelled in one of the following scenarios:
Good Till Cancel - the trade order is valid until it is cancelled by the trader, who executes the cancellation through an order on an internet trading program or through a telephone conversation with the broker.
Good Till Date - the trade order is valid until the date that is set by the trader. In other words: if by a certain date a trade order was not executed, it automatically gets cancelled by the broker or by the trading program.
Whats Next?
* A winning strategy
Or go back to the education index
The trading platform follows the market for the trader, and will execute stop and limit orders (but not both) at the moment in which the market arrives at a limit order or stop order, the order will be executed and the order will be immediately cancelled.
The two orders are valid until they are cancelled in one of the following scenarios:
Good Till Cancel - the trade order is valid until it is cancelled by the trader, who executes the cancellation through an order on an internet trading program or through a telephone conversation with the broker.
Good Till Date - the trade order is valid until the date that is set by the trader. In other words: if by a certain date a trade order was not executed, it automatically gets cancelled by the broker or by the trading program.
Whats Next?
* A winning strategy
Or go back to the education index
