do-while loops trouble

no matter what I input, the loop keeps running.
error is a string that contains an error method cause i'm too lazy to type a new cout every time.
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	do{cout<<"\nDoes your interest compound continuously?";
			cin>>compounding_type;
                 if(compounding_type != 'y' || compounding_type != 'Y' || compounding_type != 'n' || compounding_type != 'N')
cout<<error;


}while(compounding_type != 'y' || compounding_type != 'Y' || compounding_type != 'n' || compounding_type != 'N');
Try changing || to &&
wow! facepalm.
haha

Thanks a lot.
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