A kind of orders regarding to combination. This is the abbreviation of 'if One done, Cancel the Other'. This order is useful to close the position, which enables customers to place both the limit order and the stop order at the same time. The limit order is for profit-taking and the stop order is for loss-cutting. If one is filled, the other will be exactly cancelled without delay. It is dependent on the market movement whether a profit-taking order would be filled or a loss-cutting order.
Terms in Trading
Ask| Bid| Day order| Done| Either| Firm price| Given| GTC| Hit| If done| Join| Limit order| Line full| Mine| My Risk| Nothing done| OCO| OFF| Offer| Paid| Pay| Pips| Point| Single order| Stop loss orders| Take the offer| Taken| Your Risk| Yours|