Translation required - trade instructions

[WaySolid]

Can anyone translate the following for me? And what exactly is OCO? The risk from the following DAX trade is 20 points, but I'm still struggling with the finer details.

IF the Sept DAX opens at 3836.5, or higher, than;
Sell 1 Sept DAX at Open - 10 on Stop.
IF DONE,
Buy 1 Sept DAX at Open + 10 on Stop OCO MOC (Market On Close).

Cheers,
WaySolid

 

[stefan]

Re: Translation required. Trade instructions

OCO: One cancels the other order.

It means something like that:

An order stipulating that if one part of the order is executed, then the other part is automatically canceled.

I suggest you check this link which I find most interesting:

http://www.indextrader.com.au/IndexALERT_Order_Types.asp

Happy trading

Stefan