Forex Brokers Providing OCO Order
OCO or known as One-Cancels-the-Other is a pair of orders; if one order executes, then the other order is automatically canceled. An OCO order combines a stop order with a limit order on an automated trading platform. When either stop loss or limit price is reached and the order executed, the other order automatically gets canceled.
Experienced traders use OCO order because it provides maximum flexibility in trading. You can have an opportunity to fix profit and limit losses whenever an order is triggered. Below you will find a list of Forex Brokers that provide OCO orders for trading.
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OCO (One Cancels the Other) order is a conditional order that combines a limit order and a stop limit order with the same order quantity. Still, only one of them can be executed. So, if one of these orders is partially filled, the remaining one will be canceled automatically. Note that if you manually cancel one of the orders, you will cancel the other one automatically.
Continue Reading at How to Use Binance OCO Orders for Your Benefit
How can OCO Order helps traders during high volatility?
OCO Orders will cancel out the unexecuted order right after the other one is executed. Imagine if your sell stop position is still running while your buy position has been executed. The price volatility can touch the intended sell stop entry and leave it open while the price moves in the opposite direction. Consequently, the safest option is to immediately cancel the other position should an order be triggered. And that function is what OCO Order makes possible.
Continue Reading at OCO Order Strategy, How Does It Work?
How to use OCO Order in a strategy?
You can base your analysis on the price movement to predict where the price may head next. One useful method that can be used is a candlestick pattern, namely the Inside Bar. To start using Inside Bar as an OCO Order strategy, pay attention when the candlestick pattern has been formed. A trend continuation often takes place, but sometimes there is a retracement or even a reversal if the price fails to break the support or resistance level. In this case, the ideal OCO Order is the breakout type.
Continue Reading at OCO Order Strategy, How Does It Work?
One-Canceling-the-Other (OCO) Order is a tool that enables a position to be automatically canceled by an opening position from the opposite order. Not only used as a tool to help traders with the mechanism of opening and canceling orders, but the OCO Order can also be utilized as a strategic weapon.
Continue Reading at OCO Order Strategy, How Does It Work?
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