Forex OCO Open Order – What Does the Term OCO Refer to in Market Trading?

When trading the commodities markets or the Forex market, the term OCO is often you used as part of opening an order. When OCO is added as an open order it can be part of a very important trading strategy. Under certain circumstances, not using it could lead to opening an unwanted trade and costing you a lot of money. Therefore, knowledge of the OCO order is very important if you want to find success trading the Forex, or actually any type of market. In this article, we will explain what the term OCO refers to and exactly what an open order is as well.

An open order is certainly one trading concept that is easy to understand. It simply means you place a particular order and wish to have it remain as an order to be filled until it is actually filled. Another term for an open order is OTC, which means open till canceled. As you can see, this is grammatically incorrect because it should actually read OUC, or open until canceled. However, OTC is the lingo that has been used in trading markets forever.

A trader has the opportunity to place open orders regarding the same trade at the same time. Why would anyone do this? Because a trader may look to close a winning trade when it reaches a certain level and at the same time protect himself against losses should the market turn against him. For instance, he may seek to grab profits on a winning trade should the market move in his favor. If this trader looks to get out with a profit of 20 pips, he would place a limit order of 20 pips above where a particular buy order was filled or below the point where a particular short order was filled.

By doing so, the trader will lock in profits as soon as soon as the Forex pair reaches this level. However, the market could turn against this trader and cause a major loss of funds. Therefore, it would be wise to place a stop loss order in the opposite direction of where the limit order had been placed. Of course, the limit order and the stop order would be open orders or OTC orders. So, what would happen if the commodity moved to the level where the limit order had been placed? This would be great because the trader would now have locked in a profit of 20 pips.

The bad news is this commodity may turn in the other direction and trade at the stop level he had previously placed. If this happened he would now hold another position in the opposite direction of where he previously held his last position and this person may not want to be engaged in this trade. What’s worse is he may not even realize this. This of course, would make it possible for him to lose a lot of money.

To prevent this from happening, the correct procedure is to open both the stop order and the limit order at the same time and to open them specified as an OCO order. This way, when either the stop or the limit order is filled the other will be canceled immediately. This will prevent these unknown losses from ever occurring. Here in lies the power and beauty of using a Forex OCO order.

How to Make Your Next Email Marketing Campaign a Success

Email marketing campaigns still offer one of the best ROIs out there. They’re cost-effective and provide one of the best lead-generation tactics available. The best email marketing programs can pull up to a 30% rate compared to just 2-3% for direct mail. Before you rush out to implement your next campaign though, first employ a little strategy.

The good news is you don’t have to put together a full-blown email marketing plan in order for your next campaign to be effective, but you should define the following before you get started:

Who is your audience, and what do you want them to do? How well do you know your audience? Can it be broken down into subgroups? If so, maybe they aren’t all legitimate prospects for your next campaign. This really comes down to your in-house list keeping. The more information you have on your customers and their interests, the better. Beyond that, what’s your call to action? It can often help to have more than one. For example, “Click here to buy our latest widget” can be your main CTA, but you could also follow it up with “Click here for more information”. Once they’ve clicked through, you’ve established interest, and can follow up on the lead.

What tools other than email do you use? The best marketing campaigns are integrated because they take a holistic approach. They’re more interesting, impactful, and typically have higher response rates, which translates to more leads. In addition to your email campaign, you might try a direct mail postcard with an offer, or purchase pay-per-click advertising and post to your Facebook fan page. The important thing to keep in mind here is that your campaign should have a unifying look, feel, message and offer.

Outline the executional details. What software program will you be using to send your email campaign? What will your subject line, your lead-in and your offer be? How much do you have budgeted? All are good to know, as they can directly effect your results. Another good question to ask is what kind of response you’re anticipating. If it’s a lot you’ll probably want to implement an autoresponder with a form response that promises a more detailed response within 24 hours. Today’s consumers expect this kind of service and without one you could actually do more harm than good.

Establish a goal and tailor your program to meet it. In order to measure a campaign’s success it’s necessary to have a clear goal. If yours is to increase awareness you could measure success by adding, say, 200 new emails to your list in one month. Click-through ratios are another way to measure success.

Establish a time frame for your program. You might want to send out multiple emails. For example, if you’re running a special for the month of April, you could send one out at the end of March alerting your customers and prospects to it, and then follow up with emails every week. It’s a good idea to test the campaign’s success along the way using the metrics you’ve established above. If you’re not getting the click-throughs you would like, for example, try revising your subject line, lead-in, or even improving on your offer.

The most important part of your strategy is having a clear sense of your objectives. Each tool you use is a tactic; your plan should connect how each tactic delivers on each objective.

Also, keep in mind that by far the two most important factors are your offer and the list you use. No matter how good your execution, you won’t be able to sell lipstick to, for example, male basketball players.

Resources: If you have an in-house, opt-in email list that needs some attention, check out LISTSERV email list management software. There’s even a free version for lists under 500 addresses.

Template Zone provides hundreds of customizable HTML email templates you can use to send out through an email service provider like ExactTarget or Constant Contact.

If you don’t have a privacy policy on your site explaining what you’ll do with people who decide to opt-in to your email list, you need one. You can create one at GeneratePrivacyPolicy.com.

Summary Plan your marketing campaign carefully against set objectives. Measure how the actual response compares to your planned response. Test one variable of your email program at a time. Each time you send out an email program tailor it to include all the feedback you have received from prior emails. This cycle will ensure that your program continuously improves.

Home Based Business Marketing Methods

How many tools and techniques do you take advantage of for your home based business marketing strategies? Do you limit your home business to merely a few marketing methods? Worse yet, are you trying to teach everybody in your sales force how to work with the exact same home based business marketing method? If you have not entirely learned yet that not everybody will be victorious using all the same tools, I invite you to read my preceding post named – Home Based Business Marketing – The Delusion of Replication.

Once you understand why you want to increase your home based business marketing toolbox, the subsequent inquiry is how. Many individuals don’t offer alternative types of marketing as they either don’t know what is at hand or they do not understand the way to train it. You will learn more facts about the miscellaneous options up for grabs and so you can move your sales force to make the appropriate choices for themselves.

Why should you give heed to what I am sharing? For the reason that if you do not expand your home based business advertising knowledge and allow your group increased plans to function with, they will eventually identify someone which will. To put it plainly, you must give up to go up. Which means not merely sacrificing for the larger target, but it also indicates you need to be willing to concede that you do not know everything and that you are not good at everything. Your team will appreciate you more in the long run if you hold enough tenacity to be honest with them and point them in the appropriate path with reference to who they may learn whatever they like to learn from.

Don’t Overlook These Important Home Based Business Strategies

Every home based business marketing toolbox ought to involve both offline and online methods. The truth is, many people like traditional face to face marketing, and another group of people favor the internet and telephone. Not everybody possesses the technical abilities to plunge into online marketing right away. You’ll also function with others that don’t by and large take to sitting in front of a pc or staying connected to their phone steadily.

Many individuals take to communicating in front of a room brimming with people, however innumerable individuals become faint and nauseated just at the thought of public speaking. One home business owner may favor selling merchandise, and another may enjoy recruiting additional people. You could have a few team members which are unusually good at developing advertisement copy, and team members who have never drafted an advertisement in their career. As you can see, the formation of your hbb is made up of all unique parts which all function in a different manner. It is your basic reason for developing a multiple method platform.

Examples You May Entertain For Your HBB Promo

The 1st and most accepted form of Home business marketing is direct marketing. This is marketing that targets your concise market directing your ideal prospect to assume action, either it is going to your internet website or phoning you.

Home based business promotion uses both online and traditional methods to exercise such. Offline examples could be snail mail promotions such as postcards, a letter, plus newsletters. Another example would be to use print ads such as newspaper classifieds, bulletins, or magazines. Those with a larger advertising budget might work with radio stations or even TV. Currently I have encountered some creative methods like lawn signs (like the ones you see during political campaigns.) Alternative types of conventional strategies are networking meetings, referral organizations, meetup groups, conventions along with trade show booths, drop-boxes or fish bowls and you will not neglect cold calling.

Internet options may include but are not limited to: emailing, social networks, submitting articles, promoting videos, PPC, hosting a blog, free classified ads, ezine ads, forums, list builders, and so on. Online strategies used for home based business marketing can also include online versions of postcards, newsletters, etc.

Home based business marketing is not limited to direct response marketing. Other methods can be applied as well such as reverse marketing and indirect or passive marketing. Regardless of which methods you personally use and teach, I highly advise investigating one method called attraction marketing. In a nutshell, attraction marketing is the method in which customers are drawn to you and magnetically desire to work with you, free of you actually soliciting them to. Attraction marketing should be your fundamental method of operation with any promotion options you use.

Your HBB Advertising Action Plan

Before you take off in ten different directions, there is something you need to know. You can’t be an expert in all hbb advertising strategies. You should though, come to be well-rounded with reference to what is actually accessible to take advantage of. The reason you have to do this is so you may point your partners to the best hbb marketing options for them, based on their strengths and gifts.

You become profitable by helping others become victorious. The best way to help more team members prosper is to supply them the options and direction they need suited to their personality. You throw them the football, however they have to hustle. Your first step is becoming familiar with what is out there. You do not have to know everything. For your own individual victory, concentrate on becoming truly great at one thing, and good at the rest.