A One-Cancels-the-Other (OCO) is a pair of orders combining a stop-limit order and a limit maker order on the same side, with the same quantity. When either one of the orders is executed (the stop price is triggered for stop limit order), the other one is automatically canceled. And when canceling either one of the orders, the entire OCO pair is canceled.
For sell orders, the prices have to follow the following rule:
Limit price of limit maker order > Market price > Stop price of stop limit order
For buy orders, the prices have to follow the following rule:
Limit Price of limit maker order < Market price < Stop price of stop limit order
e.g: If the last price is 10:
A SELL OCO must have the limit price greater than 10, and the stop price less than 10.
A BUY OCO must have a limit price less than 10, and the stop price greater than 10.
You have 300 USDT in your account and are feeling bull with the BNB/USDT market, wanting to enter the market with a reasonable price. The last traded price of BNB is 28.05 USDT, and the resistance is around 29.50 USDT. You want to buy BNB when it hits 27.00 USDT, but also don’t want to miss out the opportunity when the price breaks the resistance price. Then you can place an OCO order with the quantity of 10, which combines a limit buy order and a stop limit buy order. The price of the limit maker order is 27.00 USDT. For the stop limit order, the stop price is 29.50 USDT and the limit buy price is 30.00 USDT.
Select “OCO” in the drop down box, then specify the limit price to be 27 USDT and the stop price to be 29.5 USDT and stop-limit price to be 30 USDT, with quantity as 10. Then click the button “Buy BNB” to submit the order.
To Query Existing Orders: Once orders are submitted, existing two orders can be found and reviewed in “open orders”.
When orders are executed or discarded, your stop-limit order history can be found in “My 24h Order History”.