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What is an OCO (One Cancels Other) order?

An OCO (One Cancels Other) order is a type of advanced order used in trading that combines two separate orders. What is OCO? It means that if one order is executed, the other is automatically cancelled. This allows traders to manage risk and potential profits simultaneously. Understanding how OCO orders work is important to execute trading strategies effectively.

 

In OCO trading, you might set a limit order to take profit and a stop order to limit loss; if the market hits one of these levels, the corresponding order is executed, and the other is cancelled. This helps in automating your trades and protecting your positions without constant monitoring.

 

Bajaj Broking provides tools to help you utilise OCO orders efficiently in your trading activities, enhancing your ability to react to market movements.

 

Also read: What is GTT Order (Good Till Triggered)? | Bajaj Broking