What is an OCO order? One-Cancels-the-Other Order. How Does it Work? ☝️

● What is an OCO Order? How Does it Work?
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What is an OCO order? www.financial-s... One Cancels the Other. How can we use it in risk management to reduce our risk in trading. The One Cancels Other (OCO) order is actually two orders, the second one of which happens if the first can’t take place. Perhaps you’re day trading, and definitely want to close out your position at the end of the day, but would like to sell for a certain price if it is reached. If either of the two orders is filled, the other one is cancelled. Why would we want to do that? We wouldn't want to want a limit or a stop order without any corresponding order. Once the order is done we don't want any contingent orders tied to the trade.
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[@Teaktrades]

I just 2500 dollars today all because I didn't use an OCO order. I was up 1200 dollars and just decide to close the trade but my take profit order was still in and it got triggered minutes later while I was away. Before I realised, 2500 was gone just like that. It just leaves me emotionally down all day

[@syrupyone8331]

Nicely explained until the actual example. Need to express what’s happening and what that means for your trade, not just ‘that’s there’. Thanks for the vid though!

[@believeurhappy4410]

Thanks

[@dennypark7918]

ngl i thought i saw jim halpert

[@trevelyaen]

thank you

[@luxianovaldez3470]

thank u