An OCO order, short for “One Cancels the Other,” is a feature that allows users to place two orders simultaneously: one limit order and one stop-limit order. However, only one of the two orders will be executed. If one of the orders is fulfilled (either partially or fully), the other will be automatically canceled.

The OCO feature is particularly useful in trading strategies because it helps users to:

• Secure profits (via the limit order)
  
  

• Limit potential losses (via the stop-limit order)
  
  

How to Use the OCO Feature on the BTSE.ID App

1. Log in to your BTSE.ID account.
   
   

2. Navigate to the Exchange tab and open the trading interface.
   
   

3. Select the “Stop-limit” option, then tap to switch it to “OCO.”
   
   

4. After selecting OCO, you will see a form that lets you place both orders simultaneously:
   
   

Limit Order:

• Price: The target price at which you want to sell your asset for a profit.
  
  

Stop-Limit Order:

• Stop: The trigger price that activates the stop-limit order.
  
  

• Limit: The price at which the asset will be sold once the stop price is reached.
  
  

• Amount: The amount of the asset you wish to sell.
  
  

• Total: The total value of the transaction based on the specified price and quantity.
  
  

Example of Using the OCO Feature

Let’s say you bought 0.165 BNB at 411,775 BIDR because you believe the price will rise. To manage risk and secure potential gains, you can set up an OCO order as follows:

• Limit Sell Order: 412,000 BIDR (to take profit)
  
  

• Stop-Limit Order:
  
  

  • Stop Price: 411,775 BIDR (trigger price)
    
    

  • Limit Price: 411,706 BIDR (execution price)
    
    

• If the price rises to 412,000 BIDR, the limit order will be executed, and the stop-limit order will be automatically canceled.
  
  

• If the price drops to 411,775 BIDR, the stop-limit order will be activated and placed at 411,706 BIDR to minimize losses.
  
  

Important Notes

• If either one of the two orders is executed, the other will be canceled immediately.
  
  

• If you manually cancel one of the orders, the other will also be automatically canceled.
  
  

• It’s recommended that you fully understand how limit orders and stop-limit orders work before using the OCO feature.
  
  

The OCO feature on BTSE.ID is designed to be an effective and flexible risk management tool for users. With a proper understanding, you can optimize your trading strategy to lock in profits or minimize losses automatically.

If you need further assistance, feel free to contact BTSE.ID’s Customer Support team.