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What is the meaning of OCO in the context of cryptocurrency trading?

avatarRaziyehNabaviMay 29, 2022 · 3 years ago1 answers

In the context of cryptocurrency trading, what does OCO mean and how is it used?

What is the meaning of OCO in the context of cryptocurrency trading?
Cryptocurrency
Trading
OCO

1 answers

  • avatarMay 29, 2022 · 3 years ago
    OCO, or One Cancels the Other, is a popular order type in cryptocurrency trading. It allows traders to place two orders at the same time, with one order canceling the other if it gets filled. This feature is commonly used to manage risk and optimize trading strategies. For instance, a trader can set a buy order above the current market price and a sell order below the current market price. If the price goes up and the buy order gets executed, the sell order is automatically canceled. Conversely, if the price goes down and the sell order gets executed, the buy order is canceled. OCO orders are supported by various cryptocurrency exchanges and can be easily placed through their trading interfaces.

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