To enhance the trading experience and deliver more professional and convenient services, ONUS is pleased to announce the addition of three new advanced order types on ONUS Spot: Stop Market, Stop Limit, and OCO orders.
Starting today, users can access these new order types to effectively manage risks and optimize profits when trading on ONUS Spot.
1. Stop Market
A Stop Market order combines a Stop and a Market order. When the market price reaches the preset Stop price, the Market order is executed immediately at the best available market price.
- A (Current Price): The real-time market price at which assets are currently traded. This price is your benchmark for placing orders.
- B, C (Stop Price): The price level at which, when reached by the market, the system triggers a Market order, automatically executing at the best available market price.
Take Profit Market / Buy
Anticipating a purchase at a price lower than the current price (A), you place a Buy Stop Market order at a Stop price of 800 (C). When the market price reaches or falls below 800 (C), the Stop order activates, and the buy order is executed immediately at the Market price.
Stop Loss Market / Buy
To buy when the price signals an upward trend, you place a Buy Stop Market order at a Stop price of 900 (B). When the market price reaches or exceeds 900 (B), the Stop order activates, and the buy order is executed immediately at the Market price.
Take Profit Market / Sell
To lock in profits if the price rises above the current price (A), you place a Sell Stop Market order at a Stop price of 900 (B). When the market price reaches or exceeds 900 (B), the Stop order activates, and the sell order is executed immediately at the Market price.
Stop Loss Market / Sell
To limit losses if the price falls below the current market price (A), you place a Sell Stop Market order at a Stop price of 800 (C). When the market price reaches or drops below 800 (C), the Stop order activates, and the sell order is excuted immediately at the Market price.
How to Place a Stop Market Order
- Step 1: Select a trading pair.
- Step 2: Select “Buy” or “Sell.”
- Step 3: Select “Stop Market.” Enter the Stop price and Size.
- Step 4: Review the information and select “Place Order.”
2. Stop Limit
A Stop Limit order combines a Stop and a Limit order. When the market price reaches the preset Stop Price, a Limit order is placed on the order book. The limit order executes only when the market reaches the specified limit price.
- A (Current Price): The real-time market price at which assets are currently traded. This price is your benchmark for placing orders.
- B, C (Stop Price): The price at which the market price reaches, the system will trigger a Limit order to buy or sell the asset at the limit price you set.
- B1, C1, B2, C2 (Limit Price): The highest price you are willing to buy at or the lowest price you are willing to sell. Execution occurs only at this price (or better)
Examples 1: Buy Stop Limit Order
You anticipate and want to catch an uptrend. Therefore, you set a Buy Stop Limit order with a Stop price of 900 (B) and a Limit price of 920 (B1). When the market price hits or exceeds 900 (B), the Limit order is triggered, buying at 920 (B1) or below.
Example 2: Sell Stop Limit Order
To manage losses, you place a Sell Stop Limit order with a Stop price of 800 (C) and a Limit price of 780 (C1). If the market price reaches or drops below 800 (C), your Limit order activates, selling at 780 (C1) or above.
How to Place a Stop Limit Order
- Step 1: Select a trading pair
- Step 2: Choose “Buy” or “Sell.”
- Step 3: Select “Stop Limit.” Enter your Stop price, Limit price, and Size.
- Step 4: Review the information and select “Place Order.”
3. OCO Order
OCO order (One-Cancels-the-Other) is a pair of conditional orders that allows you to place a Take Profit (Limit) and Stop Loss (Stop Limit) at the same time. Once one is triggered by the market price, the other is automatically canceled.
OCO / Buy
- A (Current Price): The real-time market price at which assets are currently traded. This price is your benchmark for placing orders.
- B (Take Profit Price): The price level you set to buy and take profit when the market price decreases.
- C (Stop Trigger Price): The price level that triggers a Stop Limit buy order to cut losses when the market price increases.
- C1, C2 (Stop Limit Price): The highest price you are willing to buy to cut losses when a Stop Limit order is triggered.
Example 1 (Take Profit)
When the market price reaches or falls below 800 (B), the system will automatically execute a buy order at the take-profit limit price (B) or a better price, allowing you to buy at a lower price. Simultaneously, the Stop Limit order (stop-loss) will be automatically canceled.
Example 2 (Stop Loss)
When the market price rises and reaches or surpasses 900 (C), the system triggers a Limit buy order at the stop-loss limit price of 920 (C1). If the price continues to rise, the Limit buy order will be executed at 920 (C1) or at a better price, helping you avoid buying at an excessively high price. Simultaneously, the take-profit Limit order will be automatically canceled.
OCO / Sell
- A (Current Price): The real-time trading price. Use this as your reference point for placing orders.
- B (Take Profit Price): The price level you set to buy and take profit when the market price decreases.
- C (Stop Trigger Price): The price level that triggers a Stop Limit buy order to cut losses when the market price increases.
- C1, C2 (Stop Limit Price): The highest price you are willing to buy to cut losses when a Stop Limit order is triggered.
Example 1 (Take Profit)
When the market price reaches or rises above 900 (B), the system will automatically execute a sell order at the take-profit limit price (B) or at a better price, allowing you to sell at a higher price. Simultaneously, the Stop Limit order (Stop-loss) will be automatically canceled.
Example 2 (Stop Loss)
When the market price reaches or falls below 800 (C), the system will trigger a Limit sell order at the stop-loss limit price of 780 (C1). If the price continues to fall, the Limit sell order will be executed at 780 (C1) or at a better price, helping you avoid selling at an excessively low price. Simultaneously, the take-profit Limit order will be automatically canceled.
How to Place an OCO Order
- Step 1: Select a trading pair.
- Step 2: Choose “Buy” or “Sell.”
- Step 3: Select “OCO.” Enter your TP Limit, SL Trigger, SL Price, and Volume.
- Step 4: Review the information and select “Place Order.”
