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Introduce Stop Limit and OCO order type with Spot trading
29/10/2024

Dear Nami Community,

With the goal of increase the convenience and expand the utility for users, Nami Exchange will add Stop Limit and OCO (One Cancels the Other) order with Spot trading from 2024-10-30 07:00 (UTC)

This article will provide detailed information and instructions on how to use two new orders on Nami Exchange.


1. Stop Limit Order

Stop Limit is an order that will be activated and converted into a limit order when the market price reaches the trigger price. At that time, the limit order will be executed at the limit price or better (if any).

Users can see more information about Stop Limit orders as follows


For example: You predict that BTC tends to increase if the BTC price breaks through 60,500 USDT. You use a Stop Limit order to open a buy position. You set the trigger price to 60,500 USDT and the limit price to 60,600 USDT. As soon as the BTC price reaches 60,500 USDT, a limit order will be placed at 60,600 USDT.


How to use Stop Limit order?

Step 1: On the Exchange, select the trading pair and order type (Buy or Sell)

Step 2: Select Stop Limit order

Step 3: Fill the order's parameters, in which:

Trigger price: When the market price reaches the trigger price, the Stop Limit order is executed to buy or sell the asset at the limit price or better. Note:

  • For buy orders, the trigger price must be greater than the market price
  • For sell orders, the trigger price must be less than the market price

Limit price: The price at which you want to trigger the order to buy or sell the asset

Amount: The quantity of asset you want to buy or sell. After entering the quantity, the system will display the corresponding asset to be paid/received from the buy or sell order in Total. Users can also use the slider to set the percentage volume according to your assets for the order

Click Buy/Sell to confirm the order


2. OCO Order

OCO (One Cancels the Other) order allows users to place a Stop Limit order and a Limit order at the same time. Only one of the two orders will be able to be executed. When one of the two orders is opened or canceled, the other order will be canceled.

Users can see more illustrations of the OCO order as follows


For example: You want to buy ETH at 2,800 USDT (current price is 2,830 USDT) and determine that ETH is in a strong uptrend, ETH price may continue to increase to 2,860 USDT. You can place an OCO buy order with:

Limit price of 2,800 USDT for Limit order

Trigger price of 2,860 USDT and Limit price of 2870 USDT for Stop Limit order

If your prediction is correct, ETH price reaches 2,800 USDT, the Limit order will be executed and the Stop Limit order will be canceled.

If the price increases to 2,860 USDT, the Stop Limit order will be activated, the Limit order will be canceled.


How to use OCO Order?

Step 1: On the Exchange page, select the trading pair and order type (Buy or Sell)

Step 2: Select the OCO order

Step 3: Enter the OCO order parameters, including:

  • Limit Order

Price: The price you want to trigger the order to buy or sell the asset.

  • Stop Limit Order

Trigger Price: When the market price reaches the trigger price, the Stop Limit order is executed to buy or sell the asset at the limit price or better. Note:

  • For buy orders, the trigger price must be greater than the market price
  • For sell orders, the trigger price must be less than the market price

Limit Price: The price you want to trigger the order to buy or sell the asset

Amount: The quantity of asset you want to buy or sell. After entering the quantity, the system will display the corresponding asset to be paid/received from the buy or sell order in Total. Users can also use the slider to set the percentage volume according to your assets for the order.

Click Buy/Sell to confirm the order


After confirming the order, a Limit and a Stop Limit order will be created simultaneously. When one of the two orders is opened, the other order will be canceled.

If you manually cancels 1 of the 2 orders in the OCO order, the remaining order will also be canceled immediately.


3. Instructions for canceling orders and tracking order history

Users follow the instructions below to cancel active Spot orders and track order history on the account:

On the Exchange page, users scroll down and select "Open orders", or click on the "folder" icon to go to the Exchange History page and select "Open orders".


Users can cancel an open order by clicking "Cancel" on that order, or cancel all open orders by clicking "Cancel All"


To check all order history (information about all orders) and trade history (information about successfully orders), users access the Exchange History page and select the corresponding information


(Image is for illustration purposes only and may not be the latest version of the exchange product)


Further information:

Best Regards,

Note: Nami reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.

Risk Warning: Futures trading carries substantial risk and the possibility of both significant profits and losses. Past gains are not indicative of future returns. All of your margin balance may be liquidated in the event of extreme price movements. The information here should not be regarded as financial or investment advice from Nami. All trading strategies are used at your discretion and your own risk. Nami will not be liable to you for any loss that might arise from your use of Futures.


About Nami Exchange

Nami Exchange is a trading platform belonging to the Nami Foundation ecosystem that enables dynamic trading and effective investing through its Spot and Futures trading systems, which offer a wide selection of more 1000 trading pairs, support leverage up to x125, and 24/7 live support in Vietnamese & English.
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Website: https://nami.exchange/

Download Nami Exchange app here.

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