What is OCO or Take Profit and Stop Loss?

One-Cancels-the-Other (OCO) order is an order that combines one stop limit order and one limit order. If the stop price is triggered or the limit order is filled in whole or in part, the other order will be canceled.

You don't have to use Stop Loss and Take Profit at the same time, but if you want to use both, here's how the two orders work:

• Stop Loss and Take Profit will be executed automatically after the purchase order is executed.

• If the price drops from the purchase price and reaches the Stop Loss price, the Stop Loss order will be executed and Take Profit will be cancelled.

• Conversely, if the price rises from the purchase price and reaches the Take Profit price, the Take Profit order will be executed and the Stop Loss will be cancelled.

You can now add or change Take Profit and Stop Loss once you have placed an order. Modifying your order to add these features is available in Limit Orders, Stop Orders and Stop-Limit Orders.

To recap, if one of the two orders is executed, the other order will be canceled. The same applies to order cancellations. Canceling one order will cancel the other. For now, Stop Loss and Take Profit orders can only be added above a buy order.

Examples of OCO usage:

You buy BTC assets for Rp1,000,000 and want to limit losses while automatically locking in profits. So, you use the OCO (One-Cancels-the-Other) feature by setting two price levels:

• Take Profit (TP) at Rp1,200,000

• Stop Loss (SL) di Rp950.000

After your buy order is successfully executed at Rp1,000,000, the system will automatically activate both orders (TP and SL) simultaneously.

Then:

• If the price rises and touches Rp1,200,000, the Take Profit order will be executed, and the Stop Loss order will be automatically canceled.

• On the other hand, if the price falls and touches IDR 950,000, the Stop Loss order will be executed, and Take Profit will be canceled.