Terminology of OCO/OSO
A conditional order is an order that includes one or more specified criteria. Generally conditional orders refer to more complex order types used in advanced trading strategies.
What is OCO?
An OCO (Order Cancels Order) is a pair of orders stipulating that if one order executes, then the other order is automatically canceled. An OCO order combines Take Profit with a Stop Loss order. If any of the order executes the other order automatically gets canceled.
What is OSO?
An OSO (Order Sends Order) order consists of a primary order that will send one or more secondary orders when the primary order is filled.
Does Anny support OCO and OSO?
The answer is yes, of course!
But Anny makes it dead simple and seamless so you never have to worry about complicated terms and actions.
Anny has embedded in it’s algorithm OCO and OSO functions and they represent key acting elements to execute our famous features “Auto Stop”, “Trailing Take Profit (i.e trailing stop-loss and take profit)” and “Auto Sell”.
OCO role in Trailing Take Profit
When a target price is reached or your target profit percent is met, all stop-orders will be cancelled to free up your signal balance, take the profit and trailing stop orders will be placed.
OSO role in Auto Stop
When auto buy order is fulfilled, Anny will submit the stop-limit order relative to your auto stop. Moreover whenever you make a new manual buy order, Anny will offer you to link the order with auto stop and if you accept, OSO will take place for your new order as well.
Does Anny make use of Binance OCO functionality?
No, Anny has it’s internal OCO functionality. For minimal interference on the signal, we act behind the bookings and keep OCO orders on our side.