Knowledge Center

One Cancels Other Order (OCO)

An OCO is an advanced order. Commonly called a bracket order, this type of order allows two orders (typically a trailing stop order and a limit order) to be placed at the same time. When one is executed, the other is automatically canceled.

Orders can only be placed in the regular market session and are only good for the regular market session. Orders cannot be placed or executed in the extended hours session.

To place an OCO order:

Click the Shortcuts menu and select Advanced Order Entry. View Graphic View Graphic

The Advanced Orders window will appear. View Graphic View Graphic

From the Advanced Order Type list, select OCO - One Cancels Other.

In the Place This Order area on the Order 1 tab, complete the order information:

To add a condition, click the plus sign (+) next to Add Condition, and complete the condition for the order. The condition area expands to show the second condition area.

Note: If you do not want the second condition, click the x button next to Remove Condition. The area for the second condition collapses.

In the If The Following Event Occurs area, complete the condition for the order:

Click the Order 2 tab or the Next button to go to the second order.

Complete the order information for the second order.

To review the order information for the other order, see the Order Summary area. For example: View Graphic View Graphic

Click Submit to place the advanced order. The order activity appears in the Order Status area at the bottom of the window.

Specific securities represented in this manual are for illustration purposes only. Any information concerning a particular security should not be considered a recommendation or a solicitation of that security. Illustrations may not represent current market values.

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The information and content provided in the Scottrade® Knowledge Center is for informational and/or educational purposes only. The information presented or discussed is not, and should not be considered, a recommendation or an offer of, or solicitation of an offer by, Scottrade or its affiliates to buy, sell or hold any security or other financial product or an endorsement or affirmation of any specific investment strategy. You are fully responsible for your investment decisions. Your choice to engage in a particular investment or investment strategy should be based solely on your own research and evaluation of the risks involved, your financial circumstances and your investment objectives. Scottrade, Inc. and its affiliates are not offering or providing, and will not offer or provide, any advice, opinion or recommendation of the suitability, value or profitability of any particular investment or investment strategy.