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. For example, there is an OSO order consisting of two orders. The primary order is a 1) Trailing Stop Buy order to buy 100 units of a symbol, and attached to it is a secondary order: 2) Trailing Stop Sell order. When the primary order is filled, the secondary order is placed, one buys the coin when the market is at Dip and another sells the coin when the market is at Peak.
Steps to place an OSO order:
- Select the type of OSO from dropdown: Ex. Trailing Stop Buy + Trailing Stop Sell.
- Select Market Pair: Ex. BTC/ADA
- Offset1: First offset is to specify Trailing Offset for Sell Order. Ex. 8%
- Offset2: Second offset is to specify Trailing Offset for Buy Order. Ex. 5%
- Total: Amount of Base coin to trade. ex. 0.5 BTC
- Repeat: If repeat is enabled. It will repeat the entire order once the first set of sequence is finished. Ex. if repeat value is set to 1 then once the first cycle is finished (Trailing Buy + Trailing Sell) another cycle will start with same order parameters. Setting it to 2 will repeat the cycle 2 times after the first cycle ends. Making it total of 3 cycles. By default, it is set to false.
Cyclic OSO: An OSO order is called cyclic OSO if Repeat is set to true with some positive integer to specify the number of cycles. It can be useful in case when you wish to HODL a coin for long term. Then placing an OSO order will automatically keep selling a coin when market starts falling and buying again when market starts rising by combining Trailing orders.
Caution: Use this feature with care. OSO Orders are a combination of Trailing orders. And Offset value set in Trailing Order depends on users discretion and may fail to predict market behavior thereby causing losses.