What is One-Cancel-All Order?
A type of order comprising several limit orders for several companies, but in the event that one gets filled, the rest are canceled. This type of order allows a trader to buy one out of a number of potential stocks at the best price in the shortest amount of time. Read more for examples and further explanation including related video clips and also comments
Example explains One-Cancel-All Order
For example, a trader might use a one-cancel-all order if he or she has $5,000 to invest in the market and wants to put it all in one company but has several possible candidates. If the trader is looking at three stocks – ABC for $5, KLM for $20 and XYZ for $50 – the trader enters a one-cancel-all order for 1,000 shares of ABC, 250 shares of KLM and 100 share of XYZ. If XYZ is immediately filled at the $50, then the other two orders are canceled and will not be filled.
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