An OCO, or “One Cancels the Other” order on Binance is a type of advanced order that is used when an investor wants to place two orders at once, but doesn’t want both to execute if only one fills. Basically, an OCO order is two orders placed at the same time, with one “stop” order and one “limit” order.

The stop order is executed first, and if it fills, the limit order is canceled. If the stop order does not fill, then the limit order will remain active until it is either filled or canceled.

OCO orders are useful for investors who want to take advantage of market momentum but are also worried about missing out on a good opportunity if the market reverses. By placing a stop and limit order at the same time, they can ensure that they will either get their desired price or get out of the trade entirely if the market moves against them.

To place an OCO order on Binance, first log into your account and go to the “Exchange” page. Then, select the asset pair you want to trade from the “Markets” drop-down menu.

Next, click on the “Stop-Limit” tab just below the chart on the right-hand side of the page.

Enter your “stop price” and “limit price” in the appropriate fields, as well as your desired “quantity.” Then, click on the “Buy” or “Sell” button to place your OCO order.

It’s important to note that your stop order will always be placed first when using an OCO strategy on Binance.

Once you have placed your OCO order, you can view it in the “Open Orders” section of the “Exchange” page. From here, you can cancel either or both orders at any time before they are filled.

OCO orders can be a helpful tool for investors who want to take advantage of market momentum while also protecting themselves from downside risk. By placing a stop and limit order at the same time, you can ensure that you will either get your desired price or get out of the trade entirely if the market moves against you.