Bitget OCO Order Introduction

What is an OCO (one-cancels-the-other) order

An OCO order is essentially a one-cancels-the-other order. Users can place two orders simultaneously: a limit order and a stop limit order (which is triggered when certain conditions are met). If one order is executed, either fully or partially, the other order is automatically canceled.

Note: If you manually cancel one of the orders, the other will also be automatically canceled.

A limit order (also known as TP limit order) executes at your specified limit price once the market reaches that level. It may be fully or partially executed depending on market liquidity.

A stop limit order (also known as SL trigger price order) is a limit order that is placed with the specified price and quantity once the trigger condition is met.

How to place an OCO order

Sign up or log in to Bitget, go to the spot trading page, and tap "OCO" to place an OCO buy or sell order.

When placing an OCO buy order, the limit price should be set below the current market price, while the trigger price should be set above it. Note: The price of a stop limit order may be set either above or below its trigger price. In short: Limit price < current market price < trigger price.

When placing an OCO sell order, the limit price should be set above the current market price, while the trigger price should be set below it. Note: The price of a stop limit order may be set either above or below its trigger price. In short: Limit price > current market price > trigger price.

Use case

A trader is bullish on BTC and wants to buy 1 BTC but prefers to enter at a better price. If the desired lower price is not reached, they can place a buy order once the price breaks through, using an OCO order.

For example, the current BTC price is 90,000. The trader wants to try buying at 81,000. If the price doesn't reach 81,000, they can set a buy order at 95,000 when the price breaks upward.

TP limit: 81,000

SL trigger price: 95,000

SL price: 95,000

Quantity: 1

Related article: Know The Different Order Types