knowledge What is an OCO order in Binance !?

[Emma William 2399]

What is an OCO order in Binance !?

The OCO (One Cancels the other order) allows you to place two orders at the same time. It combines a limit order and a stop-limit order. But only one of the two can be done.
In other words, once one of the orders is executed partially or completely, the remaining order will be canceled automatically.

 Note  that canceling one order will also cancel the other order.
When trading on the Binance platform, you can use OCO orders as a basic form of automated trading, as this feature gives you the option to place two specific orders at once, which may be useful for taking profits and minimizing potential losses.

Now let's explain how to use the OCO order

 

 Limit order 
Price: The Limit Order price. It is the price you want to buy or sell at

 Stop-Limit 
Stop: The price at which a stop-limit order will be triggered, for example (0.01 BTC).
Limit :That is, in the event that the price reaches the stop price, sell the requested quantity at this price
Amount: The size of your order (for example, $ 160).
Total: The total value of your order

Benefits of an OCO order

1-Managing risk in an open position

2-Entering either a long or short trade following a breakout

[Omar98 916]

I think that the most important thing in the world of currency is to do something called Risk Management.

When we put plans and when we study the risks of our plans we can that way avoid losing our profits or money, and with the OCO order we can put two plans to work on them in order to do our best to make profits with the minimum amount of lose as much as we can. Also we can not forget that this will allows us to know if we want a long term plans or short ones.

[ETheHedgehog 3104]

this is a great feature to have, it helps in trading when there are so many bot traders at this time, or when you can't keep watching the prices all the time, unfortunately for me, Binance is restricted in my country so i can't use it, i wish Yobit had a similar feature, it would be great

[MuhammadSh 3067]

Knowing the differences between orders types on any exchange is really important for each trader in order not to lose money in a while! this type which called OCO is the best for me! especially because of the volatility of the prices in this cryptocurrencies market.. sometimes there are some surprises come against the analyses and we need this type of orders to manage our risks and not to afford risks heavily! 

[Emma William 2399]

On 11/20/2020 at 11:49 PM, MuhammadSh said:

Knowing the differences between orders types on any exchange is really important for each trader in order not to lose money in a while! this type which called OCO is the best for me! especially because of the volatility of the prices in this cryptocurrencies market.. sometimes there are some surprises come against the analyses and we need this type of orders to manage our risks and not to afford risks heavily! 

Yes, but I think OCO Order has finished the role of the rest of the orders except for the Buy or Sell Market!
Because Buy or Sell Market makes an immediate purchase without waiting based on the existing buying and selling orders!
With OCO Orders the risk of entering into deals is greatly reduced! And traders became brave enough to enter a risky signals

[Dark Shadow 295]

Thanks @Emma William for this informative topic. I am sure many people have benefited from this topic of yours. You have explained everything with great detail. I honestly didn't know about "OCO Order" before. Seeing it's benefits I hope that many other exchanges also provide this as an option.

[velasco19 1753]

Thank you very much for your information, OCO orders are useful because they work to handle the 2 possible trading scenarios.
An additional benefit that I have observed is that they are used to open operations in low volume currencies and that they are easily pumped, since they are very fast movements they can be useful in those cases.

[Jromz 2158]

Great info, thanks for sharing! I'm a big fan of OCO orders myself because they are a really useful tool when we know where the price may stop in a period of time.  They give us some freedom to let our positions opened, especially overnight. With this type of orders, I have been able to take reasonable advantage of high volatile movements in the short term. 

[Oxygen99 1930]

On 11/19/2020 at 10:02 AM, Emma William said:

Benefits of an OCO order

1-Managing risk in an open position

2-Entering either a long or short trade following a breakout

Very nice topic mate, I haven't learn of this until now that you explained the meaning of it. I have being seeing this letters OCO not knowing what it means due to lack of time I didn't spare some time to make research on it. All the way thanks for this topic.

[Emma William 2399]

15 hours ago, Oxygen99 said:

Very nice topic mate, I haven't learn of this until now that you explained the meaning of it. I have being seeing this letters OCO not knowing what it means due to lack of time I didn't spare some time to make research on it. All the way thanks for this topic.

You should now invest this knowledge in achieving more profits and avoiding losses! I think the OCO feature is very good for such situations (I mean sudden bitcoin moves)! Today we all see that the trading market is full of red colors due to Bitcoin's sudden move!

Edited November 26, 2020 by Emma William

[Oxygen99 1930]

20 hours ago, Emma William said:

(I mean sudden bitcoin moves)! Today we all see that the trading market is full of red colors due to Bitcoin's sudden move

Exactly with the help of your topic I gain some knowledge on how to control and maintain a good study of  the sudden movement of bitcoin. Hence i plan something good because am sure bitcoin very soon will hits 20k$ and even above.

[CryptoLegendry 505]

An OCO order is specifically listed by the BINANCE platform, meaning we can say that it is a patent by the BInance platform! This type of order has met with great success and this has led many people to enter the Binance platform and prefer it to many other trading platforms! Because this order saves us a lot of time! it works for us! Only we enter information for him, and he is the one who carries out buying and selling operations according to the values specified for him

[benalmoh88 1500]

this option is very important i'm using when i don't in the face of my labtop when i trade, i make my objective in sell order and my stop limit if the price down in same order, i like it.

[Jones33 37]

On 11/27/2020 at 11:21 AM, Oxygen99 said:

Hence i plan something good because am sure bitcoin very soon will hits 20k$ and even above.

I also have that feelings my friend and for that reason I think investors need to hold before the year ends and since Christmas is gradually approaching I believe we will see some positive move in terms of the value, let us be patient with the market for now friends. 

[Oxygen99 1930]

On 12/7/2020 at 6:36 AM, Jones33 said:

I believe we will see some positive move in terms of the value, let us be patient with the market for now friends

Yes that is a good suggestions I agree with you, we should always be vigilant and wise Enough to work on this by learning how to study the market price value base on it fluctuations.

@Projectcrypto

[Jones33 37]

10 minutes ago, Oxygen99 said:

Yes that is a good suggestions I agree with you, we should always be vigilant and wise Enough to work on this by learning how to study the market price value base on it fluctuations.

@Projectcrypto

That is what i currently fighting to know my friend because I want to be a trader but my problems is that i don't know how to read the market chart to know when it is the right time to buy and sell for good profit and I will need much help on this issue.

[Projectcrypto 4382]

9 hours ago, Oxygen99 said:

Yes that is a good suggestions I agree with you, we should always be vigilant and wise Enough to work on this by learning how to study the market price value base on it fluctuations.

@Projectcrypto

Coinmarketcap can be helpful for one to be monitoring the movement of the market because everything is written in details at the site, bitcoin has a good potential in the Cryptocurrency marketplace so be calm so that you can earn more profit since we are gradually coming closer to the end of the year.

[Jones33 37]

On 11/22/2020 at 7:37 PM, Dark Shadow said:

Seeing it's benefits I hope that many other exchanges also provide this as an option.

I just hope our yobit exchanger create such feature soon because this will benefit us slot and the site will be more popular just like binance exchanger since we have many members in this forum which will definitely make use of it.

[Tesco 755]

This option is good, I just wish it will be introduced to yobit exchanger, this feature gives one right to do trading without fair of losing weight or having doubts about what might happen, if the feature is introduce it will benefits us alot and it will attracts many people to wat to do transactions and invest with yobit exchanger.

[Cleaner 2549]

On 12/9/2020 at 4:32 PM, Oxygen99 said:

Yes that is a good suggestions I agree with you, we should always be vigilant and wise Enough to work on this by learning how to study the market price value base on it fluctuations.

@Oxygen99..We will keep an eye on the crypto world market to understand the price of a coin.  As a result we can make a little guess.  However, users have a hand in raising prices.  If you look at yobit, you will see that the higher the sale of a coin, the lower the price of the coin.  And the higher the purchase, the higher the price.  So the price of a coin largely depends on demand and supply.  In binance we can use OCO order to trade.  This will save us from loss.

[Oxygen99 1930]

On 12/11/2020 at 11:39 AM, Cleaner said:

.  And the higher the purchase, the higher the price.  So the price of a coin largely depends on demand and supply.  In binance we can use OCO order to trade.  This will save us from loss @cyptowhited @Projectcrypto @Jones33

Well I got that friend, all you explained is all the law of demand and supply of course prices of a coin rises when there is low supply and high demand and also the price fall when the there is high supply and low demand. From this definition I am able to understand what the OCO was to binance exchange.

[Smallingcane012 344]

Oco in binance it's depends on the types of business you are doing in anyway or in particular situations or in the places of business in that time.

[Abdulrahman3 1252]

OCCO is very useful in the matter of saving time for the trader. Instead of sitting in front of the computer for hours, the trader can use OCCO to cancel the deal if there are losses, and activate it if there are good profits.

[Chakomakasi0123 52]

An oco in binance it so beneficial and important to most of peoples that use the crypto.