OCO Orders

Brief

This article describes OCO orders.

Details

OCO Order

OCO means "One Cancels Other", OCO Order is a mechanism when you can configure numerous Entry orders to be part of one larger OCO order and when first one out of those orders executes, all others are deleted.

It is a good tool for building trading strategies which use more than one instrument. For example, you create 5-6 entry orders, each on different instrument, and when market on one of the instruments reaches the desired condition, you enter the market on that instrument while all other orders get deleted.