What is OCO (One Cancels Other) Order in Upstox?
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- Updated On:14-Mar-2021
- Replies:1
Short Answer
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.
Detailed Answer
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.
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Discussion (0)
GTT is a feature which works when the price set by an individual is met in a specific period. Let's gather some more details on GTT or Goods Till Triggered feature offered by Upstox and other stockbrokers in India.
Zerodha Kite allows you to sell shares either at market order or by placing stop loss. The order will be executed at the best available price.
Discount brokers have gained a lot of popularity in the past couple of years. Zerodha is currently India's largest and most trusted discount broker which is also the best option for beginners. It has all the necessary qualities required for a good broker like low commissions, low-maintenance charges, high-quality trading terminal, etc.
IOC simply stand for Immediate Or Cancel (IOC) orders. As you get more and more familiar with trading terms and slang, you might realize that each term is supposed to be linked with others, which form this sort of conjoined strategies. These strategies are usually what result in successful trading, rather than speculation.
IOC stands for Immediate or Cancel, which means if an order is not executed immediately under a given time frame, it will be liable to cancel.
When talking about the best stock broker in India, we cannot rule out Zerodha. It is the market leader in bargain stockbroking, is premised in Bengaluru, and accounts for more than 15% of total retail trading activity in the country. Mr. Nitin Kamath formed the leading brokerage firm in 2010 Kamath, and it now has a customer base of over 6 million.
GTT in Zerodha is an acronym for the Good Till Trigger feature offered by Zerodha that lets the investor select a trigger price and a set of predetermined conditions that as and when are met, an order is placed automatically.
Trading in the stock market is a pretentious task given the ups and downs it brings to the table. But for traders, brokerage firms have made life simpler and more comfortable to execute relevant trades more straightforwardly. For the same, we have Bracket Orders (BO) from leading stock brokers like Zerodha that helps in keeping a constant tab on the selling and buying of stocks on pre-determined specifications.
Yes, the Indian discount broker is backed by Mr. Ratan Naval Tata. He held a 1.33% stake in RKSV Securities (popularly knows as Upstox) at the beginning of the year 2019. RKSV in RKVS Securities stands for the initials of the names of founders (RK for Ravi and Raghu Kumar, and SV for Shrinivas Viswanath).
Yes, Upstox is safe, good and a very reliable stock broker for trading and long term investing. Being registered with SEBI, NSE, BSE, MCX and CDSL the stock broker has built a good reputation and a decent customer base over the years.