BTCC Professional Trading Launches OCO Order Function!

BTCC launched hybrid orders, namely “OCO orders”, on the professional trading platform on April 22 (today)!

OCO order is a mixed order, which means that two orders are combined into one OCO order and issued. When one of the orders is executed or partially executed, the other order is automatically cancelled or partially cancelled. One of the two orders is a limit order and the other is a stop loss order. OCO order can strive for a better transaction price while ensuring that the buy/sell is completed.

It can be used in the following two situations:

Bullish

A trader who is bullish and wants to open a long position/close a short position can use an OCO order to place a limit buy order below the market price and a stop buy order above the market price.
For example, if the current price of Bitcoin is 2,750 yuan and a trader wants to buy 20 Bitcoins, he can place an OCO order by setting a limit order price of 2,730, a stop order price of 2,760, and a quantity of 20. If the price rises to 2,760, the stop order will be triggered, and 20 Bitcoins will be bought at the market price, while the limit buy order of 2,730 will be cancelled.

If the price drops to 2,730 and the limit order at 2,730 is executed or partially executed, the stop loss order will be automatically cancelled or partially cancelled.

Bearish

A trader who is bearish and wants to open a short position/close a long position can use an OCO order to place a limit sell order above the market price and a stop sell order below the market price.

For example, if the current price of Bitcoin is 2,750 yuan and a trader wants to sell 20 Bitcoins, he can place an OCO order by setting a limit order price of 2,780, a stop order price of 2,740, and a quantity of 20. If the price rises to 2,780, and the limit sell order of 2,780 is executed or partially executed, the stop sell order will be automatically cancelled or partially cancelled.

If the price drops to 2,740, the stop loss order is triggered, and 20 bitcoins are sold at the market price, while the limit sell order at 2,780 is cancelled.

In ancient times, there were formations such as the Mandarin Duck Formation and weapons such as the Mother-and-Child Sword. What matters is the combination of long and short forces and flexibility, so as to achieve the goal of defeating the enemy and winning. BTCC's professional trading hybrid OCO order function helps you plan and win the battle thousands of miles away!