The order method I like [Kiri Yu]

With a unique laissez-faire style, Yuu Kizato trades in a calm, steady manner and talks about OCO orders as his preferred order method. There is also an explanation of the latest trading techniques using OCO orders.

※This article is a reprint and edited version of FX攻略.com December 2019 issue. Please note that the market information in the main text may differ from the current market.

Yuu Kizato Profile

About 10 years of FX history. He avoids any detailed technical analysis and aims to win through probability theory and psychology. Safe compounding through swaps and other gains. A free spirit who loves spirituality and music. Based in Tokyo.

Twitter：https://twitter.com/KizatoFX

Fully automated settlements and trader-friendly

This time, I would like to write about my favorite OCO orders. An OCO order combines a limit order and a stop order; when one becomes active, the other is canceled. It is often used to settle already-held positions, and allows you to set both a take-profit and a stop-loss at the same time. Of course, if you take profits, you don’t incur a loss, and if you incur a loss, you don’t take profits, right?

There are several benefits to OCO orders. First, once set, you don’t need to monitor the market afterward. As a basic principle of FX, any newly opened position must eventually be settled.

And since the settlement outcome is a winning trade if positive, or a losing trade if negative, when and at what price you settle is important. But with OCO orders, you automate this. If the price hits the desired level, you take profits; if it hits the level you’re willing to accept as a loss, you cut losses, so once configured, you can completely leave it alone. I think this system is especially useful for part-time traders who can’t watch the market all the time (myself included).