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交易術語

術語交易指交易者運用預定義的術語體系、概念框架及行業指標進行決策的策略類型,涵蓋專業術語、金融指標與分析工具,助您高效駕馭市場。

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On top

When a dealer says a market is offered, sellers have the upper hand. The word is desk slang meaning there is willingness to sell, that offers are stacking up and the price is under downward pressure as a result. It is the counterpart to bid, which signals buying interest.

Hearing that something is well offered tells a trader the path of least resistance is probably down, at least for the moment, because the supply of sellers outweighs the demand from buyers.

Example: A voice broker tells his client that euro-dollar is heavily offered above 1.1000, meaning a wall of sellers is lined up to sell at or just above that level. The trader reads it instantly: rallies into 1.1000 are likely to stall and get sold, so rather than chase the pair higher, she waits, expecting the weight of those offers to cap the move and perhaps push the price back down.

One Cancels Other (OCO)

The on neck is a candlestick pattern that usually signals a downtrend has more room to run. It forms over two candles in a falling market: first a long bearish, down, candle, then a smaller bullish candle that opens lower but manages to close right around the low of the previous one, at its neck, without pushing back up into it.

That feeble bounce is the tell. Buyers tried and barely made a dent, so sellers are likely still in control. Traders read it as a bearish continuation signal.

Example: A stock is sliding when an on neck pattern appears, a big red candle followed by a small green one that closes only just at the prior candle’s low and no higher. A trader takes the weak recovery as a sign the rally has no strength behind it, expects the downtrend to resume, and treats the pattern as a cue to stay short rather than bet on a bottom that may not be there.

One Cancels Other Order (OCO)

Yet another way of writing the same idea: one cancels other order, an OCO, pairs two orders so that the execution of one instantly cancels the other. This heading duplicates the OCO entries elsewhere on the sheet; the mechanism does not change. What is worth spelling out here is a second common use beyond bracketing an existing trade, namely using an OCO to catch a breakout in either direction.

You place a buy order above the current price and a sell order below it, and whichever the market hits first triggers your entry while cancelling the other.

Example: A trader expects a currency to break hard out of a tight range but has no idea which way. She sets an OCO with a buy stop above the range and a sell stop below it. When the price finally bursts upward through the top, the buy fires and the sell order is cancelled automatically, putting her in the direction of the breakout without her having had to guess it in advance.

One cancels the other (OCO)

An order type that allows traders to place two orders simultaneously, with one being cancelled if the other is executed.

One cancels the other order (OCO)

On top is trading slang for dealing at the very best price currently showing, joining the top of the market rather than waiting behind it. In voice broking especially, a trader who goes on top is matching the best bid or offer already on the screen, putting their order right at the front of the queue at that price.

It signals urgency, a willingness to trade now at the prevailing level rather than hold out for something better.

Example: A broker is showing the best offer in a bond at a certain price, and a buyer who wants in without delay says he’ll go on top, placing his bid at that same best level to get done immediately rather than pitching lower and risking the market running away from him. Being on top means accepting the current price as good enough and prioritising getting the trade filled over squeezing out a marginally better one.

One touch

An OCO ties two orders together so that the moment one fills, the other vanishes. Short for one-cancels-the-other, it is a way to bracket a position with two exits, or two entries, without risking both being triggered. The classic use is pairing a take-profit order above the market with a stop-loss below it: whichever the price hits first executes, and the platform automatically kills the other, so you are never left with a stray order still live after you have already exited.

Example: A trader is long a stock at 100. She sets an OCO with a take-profit at 110 and a stop-loss at 95. If the stock climbs to 110, that order sells her out for a profit and the 95 stop is cancelled on the spot; if instead it drops to 95, the stop fires and the 110 target disappears, so she can walk away from the screen knowing only one of the two can ever execute.

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