OCO stands for “One Cancels Other.” It simply means that if one part of the order is executed, the other part will be automatically canceled. On the FX Trading Station, Entry Orders that are linked as OCO orders will appear under the “OCO” section of the Orders window. For example, the two 30K EUR/USD sell positions shown below are linked as OCO. If one of these entry orders executes, the other order will be deleted.

TYPES OF OCO ORDER
You can choose to make either “Simple OCO Orders” or “Complex OCO Orders”.
COMPLEX OCO ORDERS
Complex OCO orders allow you to link 2 or more entry orders to each other as OCO orders. These orders can be all in one currency pair, or across many currency pairs. There are several different ways to set Complex OCO Orders.
Method 1
You manually place two (or more) entry orders (see how to create entry orders
here). In the Orders Tab, you will see the two entry orders. To link them as OCO (one cancels other), simply right click on one of the Order ID numbers under the Order ID Column and select “Complex OCO”.
A box will appear with your existing available entry orders. To link your orders as OCO you can select them individually and click “Add”, or you can Select All. You will then see these orders move into the “OCO Orders” section of the box. Click “OK” to complete the order. You can even link as many orders as you like in this way.

Method 2
If you already have an OCO order in place, you can click on an order and drag it around the Orders Window. If you drag an Entry order into the OCO section and your mouse pointer turns yellow, you can let go and the order will drop in as a new OCO order. If you click and drag an order over another order, your mouse pointer will turn green. Then you can drop the order and it will become OCO with the order you were pointing at.
EXECUTION
The moment that any one of the entry orders that is a part of your Complex OCO Order executes, all the other order(s) in that OCO will be cancelled, and will disappear from your Orders Window.
“Simple” OCO Orders offer you a way to make 2 linked Entry Orders in the same currency pair with just a few clicks.
HOW TO CREATE SIMPLE OCO ORDERS
In the Dealing Rates window, right-click on the currency pair that you want to trade, and choose “Simple OCO”.

In the Simple OCO box that appears, you can set the trade size, and choose if you want both orders to be Sell orders, Buy orders, or one of each. When you click OK, your new OCO orders will appear in the Orders window.

In the Simple OCO box that appears, you can set the trade size, and choose if you want both orders to be Sell orders, Buy orders, or one of each. When you click OK, your new OCO orders will appear in the Orders window.

The “Sync Rates” box is checked by default. When the “Sync Rates” box is checked, and you change either of the entry order prices, the software will automatically determine what the other entry order’s price should be. If your order is for a Buy and a Sell, the software will set the 2 entries an equal distance from each side of the current market price, and link them as OCO. When the “Sync Rates” box is NOT checked, you can enter whatever values you wish for each order. They will still be automatically linked as OCO.
SOME USES FOR SIMPLE OCO ORDERS
Simple OCO orders are well suited to taking advantage of range breakouts or pullbacks in a trend. For example, before an important news event, the market will often move sideways in a range. When the news is released, the price could break to the upside or to the downside. If you are expecting a break in either direction, you could place a Simple OCO order to buy above the range and to sell below the range.

When a currency pair is trending, the price will often pull back within the larger move of the uptrend, while other times, the price will break support or resistance and continue its trend. You can set the OCO order to buy above resistance and to buy at the trendline.
