What is a Stop-Limit order?

Stop-Limit is a conditional order that is activated when a certain price (stop price) is reached. After activation, it becomes a limit order that is executed at the specified limit price or better.

Example:

You bought BNB at $350. To limit losses, you set a stop-limit order with:

• Stop Price: $340 (activation price)

• Limit Price: $338 (selling price)

If the price reaches $340, the order will be activated and set for sale at $338 or above.

What is an OCO order?

OCO (One Cancels the Other) is a combination of two orders: a limit order and a stop-limit order. When one order is triggered, the other is automatically canceled.

Example:

You bought BTC at $30,000 and want to:

• Take profit at $35,000 (limit order)

• Limit losses at $28,000 (stop-limit order)

You place both orders simultaneously via OCO, and when one is triggered, the other is canceled.

How to place orders on Binance

Stop-Limit:

1. Go to the Binance trading interface.

2. In the orders section, select the Stop-Limit tab.

3. Enter:

• Stop - order activation price

• Limit - order execution price

• Amount - number of coins

4. Click Sell or Buy to confirm.

OCO:

1. In the trading interface, select the OCO tab (next to limit orders).

2. Fill in the fields:

• Limit Price - limit order price (for example, for taking profit)

• Stop - stop-limit order activation price

• Stop-Limit Price - stop-limit order execution price

• Amount - number of coins

3. Confirm the order.

Visual prompts (example)

• Screenshot of the Binance interface with the Stop-Limit tab highlighted and fields filled.

• Screenshot of the OCO tab with example parameter entries.

• Infographic explaining how OCO works: arrows show that when one order is triggered, the other is canceled.

Tips for effective usage

• Set the stop price slightly above/below the limit to ensure the order is triggered.

• Use OCO to simultaneously control both profit and loss.

• Test orders with small amounts to get used to how they work.

• Don't forget to take into account fees and possible slippage.

Use Stop-Limit and OCO to automate trading and reduce risks!