What Is an OCO (One-Cancels-the-Other) Order and How to Use It?

Last updated: 23 Oct 2024

What is an OCO order?

An OCO (One-Cancels-the-Other) order contains a limit order and a stop limit (or stop market) order. If one is triggered, the other is canceled. At the same time, if one order is canceled, the other will also be automatically canceled.

For more details, please refer to our Binance Academy article What Is an OCO Order?.

OCO buy order example

In a buy order, the Trigger Price (B) for Stop Limit (or Stop Market) should be higher than the Current Price (A), while the Limit Price (C) for limit order should be lower than the Current Price (A).

Notes:

• The Stop Limit order is intended to be triggered when the market price rises to 3,000 (B), at which the limit order will be canceled.
• If the user prefers a Stop Market order, it will be filled immediately when the market price rises to 3,000 (B), and the limit order will be canceled at the same time.

Conversely, if the price drops to 1,500 (C) or below, the limit order will execute automatically, and the Stop Limit (or Stop Market) order will be canceled at the same time.

OCO sell order example

For sell orders, the Trigger Price (C) for Stop Limit (or Stop Market) should be lower than the Current Price (A), while the Limit Price (B) for limit order should be higher than the Current Price (A).

Notes:

• The Stop Limit order is intended to be triggered when the market price drops to 1,500 (C), at which the limit order will be canceled.
• If the user prefers a Stop Market order, it will be filled immediately when the market price drops to 1,500 (C), and the limit order will be canceled at the same time.

Conversely, if the price rises to 3,000 (B) or above, the limit order will execute automatically, and the Stop Limit (or Stop Market) order will be canceled at the same time.

How to place an OCO order on Binance?

Website:

1. Log in to your Binance account and go to [Trade] - [Spot]. Click on [OCO] from the Order Type drop down menu.

App:

1. Go to [Trade] - [Spot], then select [OCO] from the Order Type drop down menu.

We’ll use a buy OCO order as an example.

2. Enter the order details:

• [Limit] under the Take Profit section is your limit order’s price.
• [Stop] is the trigger price of your stop-limit / stop-market order.
• [Limit] under the Stop Loss section is the limit price of the stop-limit order. You can also use [Market] and the price will be any executable price.
• [Amount] is the amount of crypto you want to purchase.

3. Click [Buy] to place the OCO order.

How to check my OCO orders?

Once orders are submitted, you can see all open orders under [Open Orders].

You can also find the history of your executed orders under [Order History].

OCO order setting conditions

For sell orders, you may try:

Price (limit order) > current market price > stop-loss trigger price (stop-limit order)

For buy orders, you may try:

Price (limit order)

• For Stop Limit orders, you may try setting the limit price closer to the stop-loss trigger price.
• For Stop Market orders, it will be executed at any available price.

To learn more about Binance spot trading orders, visit the Order Types FAQs page.