One Cancels the Other

A one cancels the other (OCO) order offers a number of advantages for those wishing to get in and out of the market without having to watch it constantly. It is the combination of both a 'link' and a 'stop' order and can be used to take a profit if the market moved in your favour or to limit losses if the market moves against you. For example:

A OCO is the combination of both a limit and a stop. It can be used to take a profit if the market moves in your favour or to limit loses if the market moves against you.

Example of an OCO order