An OCO (One Cancels Other or Order Cancels Order) consists of a buy limit order below the market and a buy stop order above the market, or a sell limit order above the market and a sell stop order below the market. When one gets filled the other is canceled. If one is partially filled then the volume on the other is reduced accordingly.
To enable the OCO
- First tap the OCO button to bring up the order type menu.
- Then tap on OCO to select that order type.
Once the OCO has been selected It will now be highlighted red and you are ready to enter your parameters.
- The l stands for limit or Profit and the s stands for stop.
- First make sure you have a qty selected before submission
- In this example tapping in the offer column will populate the box with your limit price
- In this example tapping in the offer column will populate the box with your stop price
- When you are ok with your limit and stop price tap the submit button to enter the OCO.
- After tapping submit you will see both orders in the My O columns. If you get filled on one side of this order the other will cancel automatically. If you want to cancel both orders just tap on one of them and both will cancel.
Tip: To revise the orders you can longpress then drag and drop to revise the price of one of the legs. If you want to revise the quantity you need to either enable the order ticket, or go to the working orders tab.
You can confirm your OCO orders in the All, or Working tab of your Order Book. You can also tap on an order in the order book to view the order details or revise the order.