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.

Email Or Direct Mail Marketing? Which is Best For Dentist List Marketing?

Email marketing provides the quickest and easiest way to market to your dentist list. If you are concerned about the environment, and want to be green, then email marketing is one way to preserve precious natural resources. But email marketing alone may not be enough to get you the results that you deserve.

Email and direct mail marketing can be a powerful combination of marketing weapons. Email can be delivered quickly and frequently. This is important because it can take 20 or more marketing contacts before a purchase decision is made. A follow-up direct mail piece delivered less frequently can add credibility and sustainability to your marketing message.

Maybe you don’t have a dentist list to market to or maybe your list needs updating. If this is the case, you might consider buying or building a new dentist list.

Buying versus renting

Marketing list providers will either sell you an email marketing list or rent you a list. When you rent the list, you send your marketing message to the list provider and they will email to your list for you. This can be a convenient option if you don’t have time, systems or expertise to do your own mailing.

When you buy an email marketing dentist list, you will actually own and take possession of the list. When you buy an dentist list, you can mail to the list as often as you like. Owning your list also allows you to test your marketing message. Send out test email blasts to smaller segments of your list to see which message pulls the best results.

However, when you own your list you may still need the assistance of a third-party email service. There are several available and, often times, the marketing list provider may provide this service for a fee.

You may think that buying dentist list is cost prohibitive. Many marketers find that the lifetime value of just a few new customers can easily pay for the cost of buying a dentist list. Still, you have options.

Most States have dental licensing boards that have lists of practicing dentists in every county for your state. The lists include the dentist’s name, street and email addresses, phone, and fax numbers. The lists may be free in some states, while others charge a fee.

The lists provided may not be formatted for an email marketing campaign, and you would have to do this yourself-however, software programs are available to purchase that will help with re-formatting the data. You can then create mailing labels for a direct mail marketing campaign. Most word processing program would be sufficient in generating mailing labels.

5 Steps to Successful Real Estate Marketing

There are essentially 5 steps to being successful in real estate marketing. Before we go into the 5 steps of real estate marketing, I want to encourage you to become a student of marketing. The moment that you are able to find your own deals – on demand – the more money you will make! It’s a direct correlation.

When I started out in real estate, I didn’t understand how to “really” market for deals. I was depending upon real estate agents, local real estate investing groups, etc. I did a lot of deals, but I realized I wasn’t making the kind of money I knew I could in estate.
Follow these five steps to successful real estate marketing and you’ll be on your way to filling your own funnel full of five-figure deals.

  1. Define Your Target Market: You must be focused; If you run in too many directions, focusing on too many real estate markets, you’ll always be skipping around, never getting ahead. You need to learn overcome objections; you need to know how to handle the different situations that arise. Once you master one market, then you can duplicate your system across market after market. For instance, you may choose to start working with foreclosures or out of state owners. Once you get the real estate marketing system in place for one, add the other. Then, you can simply duplicate it over and over again! The single most important thing to remember is that you MUST target motivated sellers… PERIOD.
  2. Execute your plan: It has been said that successful real estate investors have three things: specialized knowledge, ability to take action, and consistency. It’s not enough to have the knowledge. You have to act on that knowledge. Let’s say your real estate marketing strategy involves bandit signs. You need to have a system for distributing signs on a consistent basis, a consistent method for filtering leads, and a bullet-proof follow up system. If you’re going to execute a direct mail campaign, make sure you have a system for sending out the whole series. For instance, our foreclosure direct mail system consists of 6 sequential postcards. It doesn’t do you any good to come off the starting block at 100mph if you don’t have the ability to sustain that pace or the have tools to fulfill the plan. If you only have the resources to send the first postcard, don’t bother wasting your money. Find another real estate marketing strategy.
  3. Pre-screen your leads: Scribbling notes on the back of an envelope while you’re driving is not a system! We actually send our leads to a separate voicemail line or a call center depending on the marketing campaign. Our students and staff have been trained to do this because it takes emotion out of the system. If I’m having a bad day or sitting in traffic, I can’t focus on that call from the motivated seller, so all of the calls are fed through the system. We request that the seller leave certain information on the line or with the operator. We then take that information and do our basic due diligence before we even have our first conversation with the seller to find out if, in fact, he/she is a motivated seller.
  4. Make your offer: By following a specific real estate marketing system, you’ll be prepared to make an initial offer during the first phone call. By asking the right questions and having a pre-screening sheet in front of you, you’ll quickly learn if they are a motivated seller or simply just wasting time! If your real estate marketing system has this component in place, you’ll know what the property is worth, have a ballpark idea of what the repair costs are, and will know if the seller is motivated. Consequently, you will know at what price you should make your first offer.
  5. Contract/Exit Strategy: Once the seller has accepted our verbal offer, or is close thereto, it’s time to put the purchase offer in writing. We include 3 contingencies – or escape clauses – into the contract. – Inspection – In the event of buyer’s default, the deposit is the sole remedy – Subject to property appraisal

Based on this due diligence, we are then able to decide which exit strategy is most appropriate. All of this follows a basic flow chart process. There’s no thinking! It’s like when you call in for technical support on your computer. They ask you a question, and based on your answer… they go to the next step. This is how you want to run the marketing division of your real estate business.

Keep in mind that your real estate marketing efforts should be in concert with the types of deals you’re looking to do. For instance, if you want to flip properties, your marketing system might target motivated sellers facing foreclosure. On another note, if you’re looking to build a rental portfolio, then you might consider building a real estate marketing plan to target landlords filing evictions.