#BinanceFeed 📘 Peace be upon you 👋
In the last lesson, we talked about limit (Limit) and market (Market) orders. Today we will develop the topic and learn about more professional orders that help us manage risks and save time: the order that executes another order (OTO) and the order that executes and cancels another (OTOCO).
🔹 First: What is an OTO order?
It is an order consisting of a primary order + one sub-order.
This means: If your primary order is executed, a sub-order like take profit or stop loss is triggered immediately.
📌 Example of $BNB /USDT:
I placed a buy order $BNB at $500.
Directly link it to a sell order at $550.
If the buy is executed, the sell order is triggered automatically.
🔹 Second: What is an OTOCO order?
It is more advanced: consisting of a primary order + two sub-orders:
One for taking profits.
And the second for stop loss
📌 Example of $BNB /USDT:
I bought BNB at $500.
I set a take profit at $550.
I set a stop loss at $480.
If the take profit is achieved, the stop loss is canceled, and vice versa.
🔹 When do we use them?
When we want to manage our risks securely.
When we don't have time to monitor the market.
When we want to arrange our trades automatically.
⚠️ Important Notes:
1. If the primary order is only partially executed → the sub-orders do not activate.
2. You need to leave a suitable gap between the entry price and the take profit/stop loss price.
3. The balance must be sufficient to cover the entire amount.
✅ Summary:
OTO = Primary Order + One Sub-Order.
OTOCO = Primary Order + Two Sub-Orders (Take Profit + Stop Loss).
🎤 Now it's your turn:
Have you tried OTO or OTOCO orders before? Share your experiences in the comments 👇
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