OCO order

An OCO (One Cancels the Other) order links two orders: as soon as one is filled, the other is cancelled automatically.

An OCO lets you prepare two scenarios at once. The classic example: a Buy Stop above a range and a Sell Stop below it. If price breaks upwards, the buy triggers and the sell is removed.

The stop loss and take profit attached to a position also work as an OCO: if one is hit, the other disappears.

Not every platform offers it natively. cTrader and many futures platforms handle it; on MT4 or MT5 you often need a script or an EA. Be careful around news: both sides can be hit within seconds.

The full lessonOrder types: market, limit, stop, OCO and trailing stopMarket, limit, stop, stop-limit, OCO, trailing stop, take profit and stop loss orders: how each trading order type works and when you should use each one.