OCO order – “One cancels the other” order types for easy trading

The next thing about MetaTrader is that it makes entering a trade and managing orders very easy. The screenshot below shows the regular order execution window in MetaTrader. In MetaTrader, the COC order (One Cancels Other) is standard and it means that when you enter a trade, you can directly set your stop loss and take profit orders at the same time with your entry.

Furthermore, depending on whether price hits your stop loss or take profit order first, MetaTrader cancels the other. So when the price reaches your take profit order, the stop loss automatically gets deleted in MetaTrader.

Whereas you have to manually set stop loss and take profit orders and then also delete orders after you have exited your position in other trading platforms, this is completely automatized in MetaTrader.

MetaTrader OCO Order

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