OCO — One-Cancels-the-Other

What OCO is

OCO ("one cancels the other") is two exits for an asset you ALREADY hold: a profit target (take-profit) and a loss protection (stop-loss). Only one will trigger: if the first fires, the second cancels itself. Use OCO when you've already bought the position and want to manage it — sell at a profit, or get out in time on a fall. (If you don't have a position yet and need an entry, that's OTO or Bracket.)