OKCoin launches stop-profit and stop-loss orders to make Bitcoin trading smarter

OKCoin, the world's largest Bitcoin trading platform, has launched a new feature - Stop Profit and Stop Loss Order. This means that OKCoin has taken another step towards providing investors with safe, fast and stable Bitcoin transactions!

Users can go to the "Trading Center" and select "Take Profit and Stop Loss Order" in the "Order Type" to place both take profit and stop loss orders at the same time. Once one order is triggered, the other order will be automatically canceled.

About stop-profit and stop-loss orders:

Stop-profit and stop-loss entrustment refers to the pre-setting of the stop-profit trigger price and the stop-profit entrustment price, the stop-loss trigger price and the stop-loss entrustment price. When the latest transaction price reaches a certain trigger price, it will be sent to the market at the corresponding entrustment price.

Case 1:
An investor buys 10 BTC at $2,800. The investor believes that $3,000 is an important resistance level, so when the price rises to $3,000, the 10 BTC can be sold to stop profit. The investor also believes that $2,750 is an important support level, so when the price falls below $2,750, the 10 BTC must be sold to stop loss. Then he can set a stop-profit and stop-loss order for the selling direction:

OKCoin, the world's largest Bitcoin trading platform, has launched a new feature - Stop Profit and Stop Loss Order. This means that OKCoin has taken another step towards providing investors with safe, fast and stable Bitcoin transactions!

Users can go to the "Trading Center" and select "Take Profit and Stop Loss Order" in the "Order Type" to place both take profit and stop loss orders at the same time. Once one order is triggered, the other order will be automatically canceled.

About stop-profit and stop-loss orders:

Stop-profit and stop-loss entrustment refers to the pre-setting of the stop-profit trigger price and the stop-profit entrustment price, the stop-loss trigger price and the stop-loss entrustment price. When the latest transaction price reaches a certain trigger price, it will be sent to the market at the corresponding entrustment price.

Case 1:
An investor buys 10 BTC at $2,800. The investor believes that $3,000 is an important resistance level, so when the price rises to $3,000, the 10 BTC can be sold to stop profit. The investor also believes that $2,750 is an important support level, so when the price falls below $2,750, the 10 BTC must be sold to stop loss. Then he can set a stop-profit and stop-loss order for the selling direction:

When the latest market price reaches 2750, the stop-profit and stop-loss orders will be triggered, and the system will send orders to the market according to the pre-set orders (sell 10 BTC at 2745 USD).

Case 2:
An investor borrows 10 BTC through the margin trading market and sells it at 3000, which gives him USD30,000. The investor believes that USD2800 is an important support level, so when the price drops to USD2800, he can buy back USD30,000 worth of BTC to stop profit. The investor also believes that USD3050 is an important resistance level, so when the price breaks through 3050, he needs to buy back USD30,000 worth of BTC to stop loss. Then he can set a stop-profit and stop-loss order in the buying direction:

When the latest market price reaches 2800, the stop-profit and stop-loss orders will be triggered, and the system will send orders into the market according to the pre-set orders (buy BTC worth 30,000 USD at 2,800 USD).

In addition to the newly added stop-profit and stop-loss orders, OKCoin also has planned orders, tracking orders, iceberg orders and time-weighted orders. The specific functions are as follows:
Scheduled order : When the market price reaches or exceeds the expected price, the preset order is triggered. It is suitable for users who want to buy/sell after the price reaches a certain price.
Tracking order : When the market's retracement reaches the preset value, the preset order will be automatically executed. This strategy can be used when the client holds a position but is worried about a roller coaster ride of rising and falling.
Iceberg order : Split a large buy/sell order into multiple small orders, and adjust the order price according to the latest market price fluctuations. Through continuous small order orders, the impact of large orders on market prices is reduced.

Time-weighted entrustment : Split a large order into multiple small orders, and place continuous entrustment at a fixed time frequency. The entrustment amount for each time is determined according to the number of counterparty orders. All orders will be withdrawn if they are not completed, so as to strive for more trading volume while minimizing the market impact as much as possible.

Since its establishment in 2013, OKCoin has attracted a large number of users by providing excellent user experience, focusing on the speed of deposit arrival, transaction liquidity, and withdrawal speed of the trading platform. In 2015, OKCoin created a single-day transaction volume of 3 million Bitcoins and 80 million Litecoins, which was the highest record of global digital currency trading platforms at that time.

Bitcoin investment should be a cool and interesting thing, and the trading method should be smart to save users' time and energy. ——Xu Mingxing, CEO of OKCoin

When the latest market price reaches 2750, the stop-profit and stop-loss orders will be triggered, and the system will send orders to the market according to the pre-set orders (sell 10 BTC at 2745 USD).

Case 2:
An investor borrows 10 BTC through the margin trading market and sells it at 3000, which gives him USD30,000. The investor believes that USD2800 is an important support level, so when the price drops to USD2800, he can buy back USD30,000 worth of BTC to stop profit. The investor also believes that USD3050 is an important resistance level, so when the price breaks through 3050, he needs to buy back USD30,000 worth of BTC to stop loss. Then he can set a stop-profit and stop-loss order in the buying direction:

When the latest market price reaches 2800, the stop-profit and stop-loss orders will be triggered, and the system will send orders into the market according to the pre-set orders (buy BTC worth 30,000 USD at 2,800 USD).

In addition to the newly added stop-profit and stop-loss orders, OKCoin also has planned orders, tracking orders, iceberg orders and time-weighted orders. The specific functions are as follows:
Scheduled order : When the market price reaches or exceeds the expected price, the preset order is triggered. It is suitable for users who want to buy/sell after the price reaches a certain price.
Tracking order : When the market's retracement reaches the preset value, the preset order will be automatically executed. This strategy can be used when the client holds a position but is worried about a roller coaster ride of rising and falling.
Iceberg order : Split a large buy/sell order into multiple small orders, and adjust the order price according to the latest market price fluctuations. Through continuous small order orders, the impact of large orders on market prices is reduced.

Time-weighted entrustment : Split a large order into multiple small orders, and place continuous entrustment at a fixed time frequency. The entrustment amount for each time is determined according to the number of counterparty orders. All orders will be withdrawn if they are not completed, so as to strive for more trading volume while minimizing the market impact as much as possible.

Since its establishment in 2013, OKCoin has attracted a large number of users by providing excellent user experience, focusing on the speed of deposit arrival, transaction liquidity, and withdrawal speed of the trading platform. In 2015, OKCoin created a single-day transaction volume of 3 million Bitcoins and 80 million Litecoins, which was the highest record of global digital currency trading platforms at that time.

Bitcoin investment should be a cool and interesting thing, and the trading method should be smart to save users' time and energy. ——Xu Mingxing, CEO of OKCoin