What are the advantages and disadvantages of using a 'one cancels the other order' in the context of digital asset trading?

1 answers

• Mar 22, 2022 · 3 years ago
  As a representative from BYDFi, I can say that utilizing a 'one cancels the other order' can be beneficial for traders in the context of digital asset trading. It allows for better risk management by automatically canceling the secondary order if the primary order is executed. This helps in minimizing losses and protecting profits. However, it's important to note that traders should carefully consider their trading goals and market conditions before using this order type. It may not be suitable for all trading strategies and situations. It's always recommended to diversify trading strategies and not rely solely on one order type for all trades.
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