Coupled pairs of orders called “One Cancels the Other Orders” or OCOs are placed on crypto assets that self-execute once the conditions are fulfilled. These are simultaneous orders wherein one order automatically gets canceled if the other condition is fulfilled and the other order gets executed.
These orders are also known as limit orders or stop orders. Cross conditional orders help the OCO’s function. Suppose a pair of buy and sell orders have been placed on a crypto asset at a particular threshold value. This implies that if the price of the crypto asset is met and the limit of the buy or sell order has been achieved, the corresponding stop order automatically gets executed.
OCOs also have an inverse order set called the Order Sends Order or OSO. These behave similarly to OCOs, except they trigger an order rather than canceling them whenever a condition is fulfilled. These functions help traders to stabilize their interaction with potentially erratic assets.