How to Open a Counter Order on Binance
A Counter Order is a way to protect capital or lock in profits in volatile market conditions. It is used to close an open position at the opposite level using Take Profit or Stop Loss orders.
On Binance, this feature can be implemented through OCO (One Cancels the Other), which allows you to set two orders at the same time:
Take Profit – automatically sell the asset at a higher price to make a profit.
Stop Loss – sell the asset at a lower price to minimize losses.
For example, when buying BTC for $25,000, you can set the order:
Take Profit at $27,000 (fix profit).
Stop Loss at $24,000 (limit loss).
When one of the levels is reached, the other is automatically canceled.
A Counter Order helps you control risks, automate actions, and work effectively in conditions of high market volatility.
