One Cancels Other order. Please click here for further details.
ne- ancels-the- ther order is an order with 2 parts. Eg, “Sell 5 June Gold at 380-stop OCO 382-MIT.” Assuming a current price of 381, if June Gold declines to 380 before it advances to 382, you will sell 5 contracts at 380-stop. The other 1/2 of the order, selling 5 at 382 will automatically be cancelled. Should June Gold advance to 382 before it declines to 380, you will sell 5 contracts at 382-MIT. The other 1/2 of the order, selling 5 at 380-stop will automatically be cancelled.
a group of orders entered together
an Order where 'One (Order) Cancels the Other (Order)' and commonly consists of a Stop-Loss and Limit Order placed on either side of the current prevailing market price
This is a type currency trade that is often used in the Forex and futures market. In simple terms, it is actually two separate orders which are linked together and placed as a single order. When one of the linked orders is executed, the other order is automatically cancelled.
A designation for two orders whereby one part of the two orders is executed the other is automatically cancelled.
A combination of a linked limit order and a stop loss orders at predetermined market levels, where if one is executed the other order is automatically cancelled. It is used to encapsulate foreign exchange risk within known parameters i.e. to try to achieve a favourable rate whilst also giving protection against adverse market moves. It is lodged with a Bank or Broker and offers 24-hour protection and will float until either cancelled or hit. It is free of charge to use and provides an excellent vehicle for companies to transact their currencies at the best point in a range, whilst protecting themselves from negative movements.
A One Cancels the Order is a Stop and Limit orders set simultaneously, whereby once either one is executed, the other is canceled. For example, an OCO may be place to close an existing position either with a Limit (take profit), or with a protective Stop (stop loss).
This is the combination of a limit order and a stop loss order at predetermined market levels, where if one is executed the other order is automatically cancelled.
Orders that if one is executed, the other is automatically cancelled -- one cancels other.