OCO
One Cancels Other Order

Placing order with your broker, is the first step you take, after you create your 'Trading Action Plan', based on your own technical or fundamental research. Before you can start buying and selling stocks, you must know the different types of orders and when each one is appropriate.

This order allows the trader to invest the available funds in only one trade.

For example your research comes out with the possibility of two equally good trades. If you place an order for only one trade, you may not be able to enter the trade, because your criteria is not met.

But you are not interested in taking both the trades.

So place both the orders with this attribute. Then when one order gets executed, the other order automatically gets canceled.

Compare this with other type of orders:

• All or None Order
• GTC Order
• GTD Order
• IOC Order
• Limit Order
• Market Order
• Stop Loss Order
• Stop Limit Order
• Minimum Fill Order
• Market on Close Order
• Limit on Close Order
• Market on Open Order
• Limit on Open Order
• Market If Touched Order
• Iceberg Order
• Fill or Kill Order

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