One above the current market price, and one below it.
These entry orders are automatically linked together, meaning if one of the two orders executes, the other automatically cancels. These order types are especially beneficial for range-bound and break-out trading strategies.
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Risk Warning: Our service includes products that are traded on margin and carry a risk of losses in excess of your deposited funds. This interface allows you to set a limit and a stop-limit order simultaneously. In this case, you can use the OCO feature to place a profit-taking order at 0. If your prediction is correct and price rises to or above 0.
Advanced trading types: conditional orders
On the other hand, if you end up being wrong and the price drops to 0. This would potentially minimize your losses, in case the price drops even more. Note that in this example, the Stop Price is 0. This means that your stop-limit order would be triggered at the moment the 0.
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- One Cancels the Other Orders.
But, the actual trading price of your order would be 0. Trust Wallet. Ask Academy.
How OCO (Order Cancels Order) Works?
Trading Binance Tutorials. Note: We highly recommend reading our guides on limit and stop-limit orders prior to continuing. This feature gives you the option of placing two limit orders simultaneously, which may come handy for taking profit and minimizing potential losses.