OKCoin, one of the leading bitcoin exchanges, has released OCO (One Cancels Other) orders for its exchange, which will allow traders to have a more dynamic way to express a trading view.
Investopedia explains that OCO is a pair of orders that specify that if one order is executed, then the other order is automatically canceled. It combines a stop order with a limit order on an automated trading platform. When either the stop or limit level is reached and the order executed, the other order will be automatically canceled.
OCO orders help traders to capture upside, protect profits, and limit losses. OKCoin explains:
Profit trigger: The price at which the profit order is put in play
Profit order: The price of the profit limit order
Stop trigger: The price at which the stop order is put in play
Stop order: The price of the stop limit order
http://www.econotimes.com/Bitcoin-Exchange-OKCoin-Adds-OCO-Orders-To-Its-Exchange-184243
