OCO stands for “One cancels the other order,” and it refers to an order technique in which two orders are placed at the same time, and when one is filled, the other is immediately canceled.
The differences between limit and stop orders are easy to remember, but if you use an OCO order as a closing order, it will always be a mix of limit and stop orders. When utilized as a new order, on the other hand, it will be a mix of limit and stop orders.
