Forex Brokers Providing OCO Order

The MTSE provides two types of OCO Orders which are OCO Breakout and OCO Reversion:

• OCO Breakout can be used when you think that the price is going to break either upward or downward. It works as two stop orders placed at the same time. One of them is placed above the current price which will trigger a buy if that threshold is reached. The other one is placed below the current price where it will automatically trigger a sell position if the market trend is confirmed going down.
• OCO Reversion places a pair of limit orders instead of stops like OCO Breakout. This strategy is applied when you want to profit from bounce movements.

Continue Reading at OCO Order Strategy, How Does It Work?

By default, there is no OCO Order installed on MetaTrader 4. To use the tool, one must download the OCO Order's plug-in and install it on the platform. The plug-in will allow the trader to place an OCO Order.

Many experienced traders pick up said add-on from a trustworthy source such as forex brokers' extra trading facilities. One example is Admiral Markets which equips its MetaTrader platforms with a special feature called the MetaTrader Supreme Edition (MTSE).

Continue Reading at OCO Order Strategy, How Does It Work?

Here are some of the advantages of using OCO orders that you need to know:

• Protects Gains
  . To begin with, the OCO order allows you to protect your profit. With this type of order, you can maximize your profit and set a minimum take-profit price in case of a trend reversal. This is particularly helpful in the crypto market, where prices often move in a different direction very quickly.
  
  
• Risk to Reward Customization
  . Another benefit is that you can customize your risk-to-reward ratio and decide how to manage your trade. By opening two orders at the same time, you can not only maximize your profit but also minimize your loss with the pre-determined stop trigger price.
  
  
• Less Monitoring. 
  OCO order allows you to semi-automate your trading. This is not to say that you're handing over your trades to a robot, but it is simply a way to make you relax and give you some free time, as the system doesn't require much monitoring. The orders will be triggered automatically, saving you from emotional trading and impulsive decision-making.

Continue Reading at How to Use Binance OCO Orders for Your Benefit

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