Binance, Exchanges

How to Place an OCO Order on Binance?

An OCO order is a “one cancels the other” order. It is two orders placed at the same time.

One is a limit order, and the other is a stop-limit order. If one order is executed, then the other order is automatically canceled.

OCO orders are used when a trader wants to place two orders at the same time, but does not want both orders to be executed. For example, a trader might place a buy limit order and a sell stop-limit order at the same time.

NOTE: WARNING: Placing an OCO (One Cancels Other) order on Binance can be a risky process. If you are not familiar with the process and/or do not understand the technical aspects of it, then it is advised that you seek advice from a professional financial advisor before attempting to place such an order. Additionally, please ensure that you have read and understood Binance’s terms and conditions before attempting to place an OCO order.

If the price of the asset goes up and hits the buy limit price, then the buy limit order will be executed and the sell stop-limit order will be canceled. If the price of the asset goes down and hits the sell stop-limit price, then the sell stop-limit order will be executed and the buy limit order will be canceled.

To place an OCO order on Binance, go to the “Exchange” page and select the “Advanced” trading interface. Then, select the asset you want to trade from the “Asset” drop-down menu and enter your buy and sell prices in the “Limit Price” and “Stop Price” fields.

Finally, select your desired quantity in either field and click “Buy Limit” or “Sell Limit” to place your orders.

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