What is the meaning of OCO in Binance and how does it relate to cryptocurrency trading?

1 answers

• Dec 18, 2021 · 3 years ago
  OCO, or 'One Cancels the Other,' is a feature available on Binance, a popular cryptocurrency exchange. It allows traders to place two orders simultaneously: a stop order and a limit order. The OCO feature is designed to help traders manage risk and optimize their trading strategies. For example, a trader can set a stop order to sell a cryptocurrency if its price drops below a certain level, and a limit order to sell the same cryptocurrency if its price rises above a certain level. If either of these conditions is met, the corresponding order will be executed, and the other order will be canceled. This feature can be particularly useful for traders who want to automate their trading decisions and take advantage of market opportunities.
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