WHAT IS OCO-ORDER?
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One Cancels the Other orders is two regular pending orders. When one of these orders is executed, the other one is automatically deleted by the system.
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You can place pending OCO orders in the ATAS platform through the SMART DOM or the Chart Trader module on the chart.
OCO orders can be useful when:
π You trade the breakout of the consolidation zone. Click the OCO button (when activated, it will be highlighted in green), set Buy Stop above the current price and Sell Stop below it. The orders will be highlighted in yellow, indicating that they are connected. When there is an impulse - one order will be executed, and the second will be canceled.
π Set a take and a stop manually. Click the OCO button. When the take or stop is triggered, another order will be cancelled. Otherwise, there is a risk that both orders will be triggered, and you will enter the position again, even though you were going to exit.
Learn more https://bit.ly/3XGA8vy
#tradingtheory #tradingbasics #oco #tradingtips
α
One Cancels the Other orders is two regular pending orders. When one of these orders is executed, the other one is automatically deleted by the system.
α
You can place pending OCO orders in the ATAS platform through the SMART DOM or the Chart Trader module on the chart.
OCO orders can be useful when:
π You trade the breakout of the consolidation zone. Click the OCO button (when activated, it will be highlighted in green), set Buy Stop above the current price and Sell Stop below it. The orders will be highlighted in yellow, indicating that they are connected. When there is an impulse - one order will be executed, and the second will be canceled.
π Set a take and a stop manually. Click the OCO button. When the take or stop is triggered, another order will be cancelled. Otherwise, there is a risk that both orders will be triggered, and you will enter the position again, even though you were going to exit.
Learn more https://bit.ly/3XGA8vy
#tradingtheory #tradingbasics #oco #tradingtips
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