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1.
loked out, to be out of your mind, not all there at the time.
can come and go not always a bad thing and not always a good thing. just acting real. doing something that is super intense or crazy.
damn i was so drunk last night i had sex with the 49 year old bus driver! that shit was loked out.

you see joe 360 flip that 20 stair last night? that was way loked out, can not believe he landed that.
by Shaq Money July 14, 2008
 
2.
Chillin in your element, often with good friends and coupled with a nice couchlock. Comes from chillin in the loc(ation). See Snoop Dogg, Spaceghostpurpp, the People Under the Stairs and other related artists
Person A: What are you doin tonight man?
Person B: Same thing as always, gettin loked out in the crib
by k.rool August 21, 2013