OCO or one cancels the other order is an order type where there are three orders placed. Its where different parameters can be set for an order to either buy ro sell. Once the closest parameters are met, it is executed, and the other two orders are cancelled.
Upstox is a premier stock brokering company in India that has a lot to offer in brokerage features and services for its users. One of the many features is OCO or One cancels the Other.
It’s a form of order where three subsequent orders are given simultaneously to a particular intraday order wherein the order’s execution can be carried out from the order that meets the criteria the closest. Once the order is executed, the orders placed simultaneously are canceled out.
- OCO is a quiet and effective way of stopping stop losses, squaring off procedures, and saving your shares from being sold for a lesser price and bought for a higher price.
- If the parameters that the users instigate in the order are met, then the orders are executed to be sold/bought.
- When that one order is sold/bought, the other two orders are automatically canceled out.
The overall concept of OCO is to minimize your losses and maximize your gains.
Upstox has made it simple to get used to the format and have the most out of its services and features.
If you want to use the feature on Upstox, it can be availed through its mobile application or its web portal for seamless usage. While using this feature, ensure that you keep the stop loss as realistic as possible and the sell order to what you think is attainable. If you enter values into these orders unrealistically, losing all your money is entirely possible and could result in a ravishing loss.