How to place an OCO order?
An OCO order lets you place take-profit and stop-loss orders at the same time in a single transaction. When one of the two conditions is triggered, the other is automatically cancelled. An OCO order can only be used in the advanced Buy/Sell view.
What is an OCO order?
An OCO (One-Cancels-the-Other) order is an order type that lets you place two conditional orders at the same time in a single transaction: a take-profit (TP) condition and a stop-loss (SL) condition. If the price reaches the take-profit level you set, the take-profit order is executed; if it drops to the stop-loss level, the stop-loss order is executed. When one of the two conditions is triggered, the other is automatically cancelled, so you do not have to track two separate orders for the same asset manually.
When to use it
- When you want to set both a profit target and a loss limit for an asset you hold
- When you want to define your target and risk levels in advance without constantly watching the market
- When you want to trade automatically depending on which of the two directions the price moves
How to place an OCO order?
To place an OCO order, first turn on Advanced view and select Advanced as the Buy/Sell view, then select the asset from the Buy/Sell tab, tap the Buy or Sell button, select OCO from the Select order type screen, set the take-profit and stop-loss conditions and enter the amount to create your order. When one of the two conditions is triggered, the relevant order is executed and the other is cancelled.
Before you begin
- Account verification must be complete
- An OCO order is placed only in the advanced Buy/Sell view. To use this view, go to the My account section from the menu icon in the top left of the screen, turn on Advanced view and select Advanced as the Buy/Sell view
- Depending on the pair you select, you must have enough TRY or USDT balance to buy and enough crypto asset balance to sell
Steps
- Tap the Buy/Sell tab in the bottom navigation and make sure the Buy/Sell view is Advanced (if the tab is not visible or the view is Standard, first open My account > Advanced view from the menu icon in the top left, turn it on and select Advanced as the Buy/Sell view)
- Tap the asset name at the top of the screen to choose the asset you want to trade, or continue with the asset already selected
- Tap the pinned Buy or Sell button at the bottom of the screen
- Tap the Order type field, then select OCO from the Select order type screen that opens
- Enter the condition price for the take-profit condition and select the order type (Limit or Market) that will be created when this condition is triggered
- Enter the condition price for the stop-loss condition and select the order type (Limit or Market) that will be created when this condition is triggered
- Enter the amount or slide the slider to select a portion of your balance
- Tap Buy or Sell to create your order
Note: To compare order types, you can tap the Learn about order types link in the top right corner of the Select order type screen
Managing an OCO order
When you place an OCO order, the take-profit and stop-loss conditions work together. When the price reaches one of these conditions, the relevant order is executed and the other condition is automatically cancelled. You can track the status of your order from the Open orders tab and cancel the order before either condition is triggered.
Important information
- The minimum trade amount is TRY 100 for TRY pairs and 1 USDT for USDT pairs
- An OCO order can only be used in the advanced Buy/Sell view; it is not supported in the easy and standard views
- Both the take-profit and stop-loss conditions must be set; when one of the two conditions is triggered, the other is cancelled
- The order created on the triggered condition is treated at the maker or taker fee rate depending on your Limit or Market choice and whether it is added to the order book
- The relevant balance is locked until your order is triggered
Frequently asked questions
What is the difference between an OCO order and a conditional order?
A conditional order contains a single trigger condition. An OCO order contains two conditions (take-profit and stop-loss) at the same time; when one is triggered, the other is automatically cancelled. This way you can set both a profit target and a loss limit in a single transaction.
What happens to the other condition when one is triggered?
When one of the take-profit or stop-loss conditions is triggered, the relevant order is executed and the other condition is automatically cancelled. This prevents both orders for the same asset from being executed together.
Can I cancel my OCO order?
Yes. You can cancel your OCO order from the Open orders tab before either condition is triggered. The balance locked by the cancelled order is returned to your available balance. For details, see the How do I cancel open orders? article.
Related articles
- How to place a conditional order (stop)? — Placing conditional (stop) orders
- How to place an advanced limit order? — Limit orders with Post only, IOC and FOK conditions
- How to place a limit order? — Placing limit orders
- Trading in advanced view — Trading in advanced view
- How do I cancel open orders? — Cancelling open orders
Author:
Paribu