One Cancel Other

Beginner Questions
1

Hi There,

I’m a (very new) Newbie and would like to know something. As I learn, I try what I’ve learned on a Demo account.

At this stage the GBP/JPY is making a perfect Decending triangle on the Hour Chart.

How do I place a OCO? Could it be done manually or do it have to go through a EA?

Thanks

Jeco

2

If the specific platform you are using does not facilitate OCO orders as standard then you may need to find an EA which does this for you. My guess is that you are talking of MT4/MT5 - in which case this is not a standard order.

Last resort is that you can watch the charts and wait until one order is executed and then cancel the other, lol

3

Thanks Jezzode,

LOL, I’ve done that before and all that benefitted was the Broker who got double Commission.

I’m using MT4.

It looks like it’s continuing in a down trend, I entered a bit earlier than I should have but I had to go to the Dr. so I put my stop/loss 80 pips away from my entry point and my take profit at 320 pips. At this stage it’s running at 253 pips in my favour.

The babypips school is a must for any beginner. Take the time to go through the lessons. It’s worth it.

A lot to learn I must say.

Thanks again for the reply