I have had confusion with this, so I looked it up on Wikipedia... and if I've got it right;
"Single Action" is when two actions are required to cock AND fire a revolver.
"Double action" is when a single action is required to cock AND fire a revolver.
"Double action ONLY" is when the revolver can only be fired with a single action.
I think I've got it now!
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A single-action revolver requires the hammer to be pulled back by hand before each shot, which also revolves the cylinder. This leaves the trigger with just one "single action" left to perform - releasing the hammer to fire the shot - so the force and distance required to pull the trigger can be minimal. In contrast, with a self-cocking revolver, one long squeeze of the trigger pulls back the hammer and revolves the cylinder then finally fires the shot. They can generally be fired faster than a single-action, but at the cost of reduced accuracy in the hands of most shooters.
Most modern revolvers are "traditional double-action", which means they are able to operate either in single-action or self-cocking mode. The accepted meaning of "double-action" has, confusingly, come to be the same as "self-cocking", so modern revolvers that cannot be pre-cocked are called "double-action-only". These are intended for concealed carry, because the hammer of a traditional design is prone to snagging on clothes when drawn.
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A simple rule of thumb:
A "Single Action" requires only one step to COCK the revolver...
There now, "iz Zot betta o' not so gut?"