You can place two orders simultaneously by using an OCO (One Cancels the Other) order. A limit order and a stop-limit order are combined, but only one of them can be carried out. This implies that the second order will be immediately canceled as soon as the first is half or completely satisfied. When one of the orders is manually canceled, the other one is also canceled. OCO orders may, however, be utilized in slightly different ways depending on the particular exchange being used. By automating the procedures, the OCO function enables traders to work more securely, allowing them to lock in profits and reduce risk. Although this is a straightforward tool, successful use of it necessitates a solid grasp of limit and stop-limit orders.