What is meant by OCO (One Cancels the Other) order?

OCO Order is a conditional order type where investors can make two orders at the same time. When one of the orders is executed, the other order will be canceled immediately. For example, when the Take Profit order is executed, the Stop Loss order will be canceled.

You can create Take Profit/Stop Loss orders from the assets you currently own. However, once the order is created, you cannot change the details anymore. If you want to change the details, you can cancel the order first and then create a new order.