OCO order

Dear LBank users,

1.  What is an OCO Order?

OCO (One Cancels the Other) Order

An OCO (One Cancels the Other) order allows traders to place two orders simultaneously: one limit order and one stop order.

• For Buy Orders: Limit Buy Order (Limit Order) + Stop-Limit Buy Order / Stop-Market Buy Order (Stop Order)
• For Sell Orders: Limit Take-Profit Order (Limit Order) + Stop-Limit Sell Order / Stop-Market Sell Order (Stop Order)

When one of the two orders is executed or triggered, the other order will be automatically canceled. If you manually cancel one order, the other will also be canceled.

OCO orders are ideal for volatile markets, helping traders capture profit opportunities, control trading risks, improve order placement efficiency, and reduce the need for constant market monitoring.

2. OCO Order Diagram Explanation

1) OCO Buy Order

An OCO buy order is suitable for dip buying and breakout buying scenarios. You can set both a dip-buy order and a breakout order simultaneously. As shown in the diagram, suppose the current price is A.

• Limit price for dip-buy order (B): Should be set lower than the current price A.
• Trigger price for breakout order (C): Should be set higher than the current price A.

When the price drops to 1,000 (B) or lower, the dip-buy order is triggered:

• The limit dip-buy order will wait for execution at your set price.
• At the same time, the breakout order (C) will be automatically canceled.

When the price rises to 3,000 (C) or higher, the breakout order is triggered:

• If it is a limit breakout order, it will wait for execution at your set price. (To increase the chances of execution, it is recommended to set the breakout limit price near the trigger price.)
• If it is a market breakout order, it will be executed immediately at the market price.
• At the same time, the dip-buy order (B) will be automatically canceled.

Advantages of OCO Buy Orders:

1.Dip Buying: When the price drops to the support level (B), buy at a lower price to control costs.

2.Breakout Trading: When the price breaks through the resistance level (C), automatically buy on the uptrend to capture the momentum.

2）OCO Sell Order

An OCO sell order is suitable for take-profit and stop-loss scenarios. You can set both a take-profit order and a stop-loss order simultaneously. As shown in the diagram, suppose the current price is A.

• Limit price for take-profit order (B): Should be set higher than the current price A.
• Trigger price for stop-loss order (C): Should be set lower than the current price A.

When the price rises to 3,000 (B) or higher:

• The take-profit limit order will be triggered and wait for execution at your set price, securing your profit.
• The stop-loss order (C) will be automatically canceled.

When the price drops to 1,000 (C) or lower:

• If it is a limit stop-loss order, it will wait for execution at your set price. (To improve execution chances, it is recommended to set the stop-loss limit price near the trigger price.)
• If it is a market stop-loss order, it will be executed immediately at the market price.
• The take-profit order (B) will be automatically canceled.

Advantages of OCO Sell Orders:

• Take-Profit Protection: Locks in profits when the price reaches the target level (B).
•   Stop-Loss Protection: Limits losses when the price breaks below the support level (C).

3. How to Place an OCO Order?

1. Log in to the LBank Website, click [Trade] - [Spot Trading], and select the OCO order type.

    2.Enter the Required Values

• For Buy Orders: Enter the limit dip buy price, breakout trigger price, breakout order price (limit/market), and quantity or amount in sequence.
• For Sell Orders: Enter the limit take-profit price, stop-loss trigger price, stop-loss order price (limit/market), and quantity or amount in sequence.

3. Click the "Buy" or "Sell" button to complete the order placement.

4. How to View My OCO Orders?

After submitting the order, you can view the relevant order details under the "Open Orders" list. You can also go to the "Order Center" for more detailed order information.