How to Use Stop-Limit and OCO Orders
Protect your positions with advanced order types. Set stop losses and combine multiple conditional orders in one.
Understand Stop-Limit Orders
A stop-limit order combines a trigger price (the stop) with a limit price. When the market hits your stop price, a limit order is placed at your specified limit price. This is commonly used for stop-loss protection, allowing you to limit downside while controlling the minimum price at which you sell.
Place a Stop-Limit Order
Select 'Stop-Limit' from the order type dropdown. Enter the stop price (the trigger), the limit price (the price your order will be placed at), and the quantity. For a sell stop-loss, set the stop price below the current market price. Tap 'Sell' to submit.
Understand OCO Orders
An OCO (One-Cancels-the-Other) order lets you place two orders simultaneously: a limit order and a stop-limit order on the same asset. When one order fills, the other is automatically cancelled. This is ideal for setting both a take-profit target and a stop-loss on the same position.
Place an OCO Order
Select 'OCO' from the order type dropdown. Fill in four fields: the limit price (your take-profit target), the stop price (the trigger for your stop-loss), the stop-limit price (the price of the limit order created when the stop triggers), and the quantity. Tap 'Sell OCO' to submit both orders together.
Monitor and Manage
Your OCO order will appear as a group in your Open Orders. If either the take-profit or stop-loss fills, the other is automatically cancelled. You can also manually cancel the entire OCO group from the Open Orders section. These order types are essential tools for disciplined risk management.