Safe landing for Crypto Traders: Binance adds OCO order types

The Cryptocurrency exchange giant, Binance has announced the addition of a new feature, OCO (One Cancels the Other) on its web interface for traders. This will serve as a safe landing for traders.

This feature will enable traders aim for profits and as well reduce their loss in a an appreciable way.

"Fellow Binancians,

Binance has enabled OCO order types (One Cancels the Other) to the web trading interface. PC and App clients will have the OCO order type enabled at a later date".

"What is an OCO order?

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".

Curled from Binance