A situation where two orders for cryptocurrency are placed simultaneously, with a rule in place to enforce that if one is accepted, the other is cancelled.
OTOC is a type of exchange order in which its execution results in the cancellation of the other order, hence, the self-explanatory One Cancels The Other (OTOC) order name. An OTOC is a type of conditional order, similar to limit and stop loss orders, where sell or buy actions are automatically executed when a certain trading price threshold is reached or exceeded.
An OTOC typically contains one stop order and one limit order. As soon as one gets executed for meeting a particular criteria, the other one becomes void. It is a complex trading tool used by professional traders that helps them to either cash in on a soaring price or limit their losses if the market plunges.
It should be noted that OTOC orders require skillful execution and a deep understanding of the market and trading methods.
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