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Place If-Done-OCO order

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Place If-Done-OCO order

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Here we'll look over the steps on how to place an If-Done-OCO order on the new order screen of the MetaTrader4 (MT4) / MetaTrader5 (MT5) app for Android and iOS mobile devices. If-Done-OCO order stands for "If Done, One Cancel the Other". It is used when placing new limit/stop/stop-limit orders. With an If-Done-OCO order, you place orders to secure profits or cut losses. Once the profit or the loss cut has been confirmed, the other order will be automatically canceled.

Related article: Open the new order screen

mt4
mt5

iPhone
*Scroll horizontally to see more*Swipe horizontally to see more

Step 1

Make sure that the symbol you wish to order is on the new order screen.

Step 1

Step 2

Tap "Market Execution" and change the order type.

Step 2

Step 3

Select the order type.

Step 3

Step 4

Set the limit/stop price.

Step 4

Step 5

Set the stop-loss (S/L) and take-profit (T/P) values.

Step 5

Step 6

Set the expiration type as necessary.

Step 6

Step 7

Tap "Place".

Step 7

Step 8

Your order has been placed if you see the success message.

Step 8

Step 9

The screen switches to the "Trade" tab with the new order details.

Step 9

Android
*Scroll horizontally to see more*Swipe horizontally to see more

Step 1

Make sure that the symbol you wish to order is on the new order screen.

Step 1

Step 2

Tap "Market Execution" and change the order type.

Step 2

Step 3

Select the order type.

Step 3

Step 4

Set the limit/stop price.

Step 4

Step 5

Set the stop-loss (S/L) and take-profit (T/P) values.

Step 5

Step 6

Set the expiration type as necessary.

Step 6

Step 7

Tap "Place".

Step 7

Step 8

Your order has been placed if you see the success message.

Step 8

Step 9

The screen switches to the "Trade" tab with the new order details.

Step 9

iPad
*Scroll horizontally to see more*Swipe horizontally to see more

Step 1

Make sure that the symbol you wish to order is on the new order screen.

Step 1

Step 2

Tap "Market Execution" and change the order type.

Step 2

Step 3

Select the order type.

Step 3

Step 4

Set the limit/stop price.

Step 4

Step 5

Set the stop-loss (S/L) and take-profit (T/P) values.

Step 5

Step 6

Set the expiration type as necessary.

Step 6

Step 7

Tap "Place".

Step 7

Step 8

Your order has been placed if you see the success message.

Step 8

Step 9

The order details will be added to the toolbox.

Step 9

Android tablet
*Scroll horizontally to see more*Swipe horizontally to see more

Step 1

Make sure that the symbol you wish to order is on the new order screen.

Step 1

Step 2

Tap "Market Execution" and change the order type.

Step 2

Step 3

Select the order type.

Step 3

Step 4

Set the limit/stop price.

Step 4

Step 5

Set the stop-loss (S/L) and take-profit (T/P) values.

Step 5

Step 6

Set the expiration type as necessary.

Step 6

Step 7

Tap "Place".

Step 7

Step 8

Your order has been placed if you see the success message.

Step 8

Step 9

The order details will be added to the toolbox.

Step 9

iPhone
*Scroll horizontally to see more*Swipe horizontally to see more

Step 1

Make sure that the symbol you wish to order is on the new order screen.

Step 1

Step 2

Tap "Market Execution" and change the order type.

Step 2

Step 3

Select the order type.

Step 3

Step 4

Set the limit/stop price.

Step 4

Step 5

To place a stop-limit order, set the trigger and stop-limit prices.

Step 5

Step 6

Set the stop-loss (S/L) and take-profit (T/P) values.

Step 6

Step 7

Set the expiration type as necessary.

Step 7

Step 8

Tap "Place".

Step 8

Step 9

Your order has been placed if you see the success message.

Step 9

Step 10

The screen switches to the "Trade" tab and the order details will be added as a pending order.

Step 10

Android
*Scroll horizontally to see more*Swipe horizontally to see more

Step 1

Make sure that the symbol you wish to order is on the new order screen.

Step 1

Step 2

Tap "Market Execution" and change the order type.

Step 2

Step 3

Select the order type.

Step 3

Step 4

Set the limit/stop price.

Step 4

Step 5

To place a stop-limit order, set the trigger and stop-limit prices.

Step 5

Step 6

Set the stop-loss (S/L) and take-profit (T/P) values.

Step 6

Step 7

Set the expiration type as necessary.

Step 7

Step 8

Tap "PLACE".

Step 8

Step 9

Your order has been placed if you see the success message.

Step 9

手順10

The screen switches to the "Trade" tab and the order details will be added as a pending order.

Step 10

iPad
*Scroll horizontally to see more*Swipe horizontally to see more

Step 1

Make sure that the symbol you wish to order is on the new order screen.

Step 1

Step 2

Tap "Market Execution" and change the order type.

Step 2

Step 3

Select the order type.

Step 3

Step 4

Set the limit/stop price.

Step 4

Step 5

To place a stop-limit order, set the trigger and stop-limit prices.

Step 5

Step 6

Set the stop-loss (S/L) and take-profit (T/P) values.

Step 6

Step 7

Set the expiration type as necessary.

Step 7

Step 8

Tap "Place".

Step 8

Step 9

Your order has been placed if you see the success message.

Step 9

Step 10

Tap "Trade" in the lower menu.

Step 10

Step 11

The pending order will be added to the toolbox of the "Trade" tab.

Step 11

Android tablet
*Scroll horizontally to see more*Swipe horizontally to see more

Step 1

Make sure that the symbol you wish to order is on the new order screen.

Step 1

Step 2

Tap "Market Execution" and change the order type.

Step 2

Step 3

Select the order type.

Step 3

Step 4

Set the limit/stop price.

Step 4

Step 5

To place a stop-limit order, set the trigger and stop-limit prices.

Step 5

Step 6

Set the stop-loss (S/L) and take-profit (T/P) values.

Step 6

Step 7

Set the expiration type as necessary.

Step 7

Step 8

Tap "PLACE".

Step 8

Step 9

Your order has been placed if you see the success message.

Step 9

Step 10

The order details will be added to the toolbox.

Step 10

Date

Created

 : 2022.08.15

Update

Last updated

 : 2023.04.21

Writer

Takayoshi Nakamaru

Manual production consultant, MBA

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Takayoshi Nakamaru

Nakamaru is a manual production consultant at FINTECS, a company that specializes in creating manuals for their clients.
With a wide range of experience from fintech to entertainment, he presents what user-friendly manuals should be like.
He works with numerous large corporations as an external manual production project manager.

【Business information】
http://www.fintecs.co.jp/profile/

Supervisor

Akira Takagi

Systems engineer, MetaTrader administrator

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Akira Takagi

After graduating from Computer Science at the Uninove, Brazil, in 2014, he has worked on various systems development projects.
He participated as a developer in the launch of forex services in 2019. Since then, he has also been involved in the development of MetaTrader plugins and APIs. He is certified by MetaQuotes as a MetaTrader5 Administrator and active in consulting and advisory as well.

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