How to put buy and sell order at the same time in binance
There are two main types of orders when trading cryptocurrencies: market orders and limit orders. A market order is an instruction to buy or sell an asset immediately (at the market’s current price), while a limit order is an instruction to wait until the price hits a specific or better price before being executed. Let’s see how they work and how to place them on Binance.
What is a market order?
A market order is executed at the current market price as quickly as possible when a user places the order.
When placing a market order, you can select [Amount] or [Total] to buy or sell.
For example, [Amount] is recommended when you want to buy or sell BTC with a certain quantity. However, if you wish to buy BTC with a certain amount of funds, such as 10,000 USDT, placing a market order with [Total] is a better option.
In general, you can use both functions to place your buy and sell orders. However, when you place the order after the system calculates the amount you can get, the asset price might have changed significantly, and the order would fail. This often occurs when the buy/sell ratio is close to or equal to 100%.
Market order example
The current price is 2,400. If you place a market order, your order will be filled with the best available price on the order book immediately. The average filled price of your order may not be exactly 2,400 (A). Depending on your order’s direction, it could be slightly below or above 2,400. For buy orders, the average filled price may be slightly above the current price, while for sell orders, the average filled price may be slightly below the current price.
How to place market buy orders?
1. By Total
Suppose you o
wn 1,000 USDT and want to place a market order for BTC/USDT. When you place a “Buy 100%” order, the system will execute your order at the current market price according to the amount of USDT you have, but it is uncertain how many BTC you can buy. The final BTC transaction amount is determined by the market price and quantity when the order is placed. You can check the amount of BTC purchased and the average price from [
2. By Amount
For example, you own 100,000 USDT, and the price of BTC/USDT is fluctuating around 34,105 USDT. When you place a “Buy 100%” order, the system will match your order with the best available sell order(s) on the market to determine how many BTC you can buy.
If the system calculates that you can buy 2.932401 BTC with 100,000 USDT and you click to place the buy order, but at the same time BTC price increases, meaning that 100,000 USDT can no longer buy 2.932401 BTC, your order will fail. You can place another order by manually editing the amount of BTC to buy, or using the [Total] function instead.
How to place market sell orders?
1. By Amount
Suppose you own 100 BTC and want to sell 50% with a market order. The amount of USDT from selling this 50 BTC will be determined by the current market price when you place the order. You can check the amount of USDT obtained from the order and the average selling price from [
2. By Total
For example, you own 0.06272 BTC, and the price of BTC/USDT is fluctuating around 33,889.26 USDT. When you place a “Sell 100%” order, the system will match your order with the best available buy order(s) on the market to determine how many USDT you can obtain.
If the system calculates that you can sell 0.06272BTC for 2,125.534 USDT and you click to place the sell order, but at the same time BTC price drops, meaning that 0.06272 BTC can no longer sell for 2,125.534 USDT, your order will fail. You can place another order by manually editing the amount of USDT to get, or use the [Total] function instead.
Note: We highly recommend reading our guides on limit and stop-limit orders prior to continuing.
An OCO, or “One Cancels the Other” order allows you to place two orders at the same time. It combines a limit order, with a stop-limit order, but only one of the two can be executed.
In other words, as soon as one of the orders get partially or fully filled, the remaining one will be canceled automatically. Note that manually canceling one of the orders will also cancel the other one.
When trading on the Binance Exchange, you can use OCO orders as a basic form of trade automation. This feature gives you the option of placing two limit orders simultaneously, which may come handy for taking profit and minimizing potential losses.
How to use OCO orders?
After logging in to your Binance account, go to the Basic Exchange interface and find the trading area as illustrated below. Click on “Stop-limit order” to open a dropdown menu and select “OCO.”
On Binance, OCO orders can be placed as a pair of buying or selling orders. You can find more information about OCO orders by clicking on the “i” mark.
After selecting the OCO option, a new trading interface will be loaded, as shown below. This interface allows you to set a limit and a stop-limit order simultaneously.
Price: The price of your limit order. This order will be visible on the order book.
Stop: The price at which your stop-limit order will be triggered (e.g., 0.0024950 BTC).
Limit: The actual price of your limit order after the stop is triggered (e.g., 0.0024900 BTC).
Amount: The size of your order (e.g., 5 BNB).
Total: The total value of your order.
After placing your OCO order, you can scroll down to visualize the details of both orders on the “Open Orders” section.
As an example, let’s suppose that you just bought 5 BNB at 0.0026837 BTC because you believe the price is close to a major support zone and will presumably go up.
In this case, you can use the OCO feature to place a profit-taking order at 0.0030 BTC along with a stop-limit order at 0.0024900 BTC.
If your prediction is correct and price rises to or above 0.0030 BTC, your sell order will be executed, and the stop-limit order will be automatically canceled.
On the other hand, if you end up being wrong and the price drops to 0.0024950 BTC, your stop-limit order would be triggered. This would potentially minimize your losses, in case the price drops even more.
Note that in this example, the Stop Price is 0.0024950 (trigger price) and the Limit Price is 0.0024900 (the trading price of your order). This means that your stop-limit order would be triggered at the moment the 0.0024950 mark is reached. And the actual order price that would be placed as the limit order would be 0.0024900. Put in another way, if BNB/BTC drops to or below 0.0024950, a limit sell order at 0.0024900 will be placed. However, if the price drops below 0.0024950, there is the risk that the limit order may not be filled.
The OCO feature is a simple but powerful tool, which allows you and other Binance users to trade in a more secure and versatile way. This special type of order can be useful for locking profits, limiting risks, and even for entering and exiting positions. Still, it’s important to have a good understanding of limit and stop-limit orders before using OCO orders.
1. How to place a Limit Order with TP/SL?
When placing a Limit Order, you will be able to set the [Take Profit] and [Stop Loss] orders simultaneously.
Click [Limit] and enter the order price and size. Then, check the box next to [TP/SL] to set the [Take Profit] and [Stop Loss] prices based on the [Last Price] or [Mark Price]. Next, click [Buy/Long] or [Sell/Short] to place the order.
*You can only select either [TP/SL] or have enabled [Reduce-only] in a single order.
[TP/SL] function is only available for [Open] orders.
Please note that if you are using [Hedge Mode] , thefunction is only available fororders.
You can check your orders under the [Open Orders] tab and Click [View] under [TP/SL] to view order details.
When an order is triggered, you can add or modify the TP/SL under the [Positions] tab. This will be applied to the entire position.
After closing the position, the TP/SL will be automatically canceled.
Under TP/SL, click [Advanced] to have more precise control over the execution price.
Advanced TP/SL allows users to set the TP/SL [Trigger Price] by entering the percentage [Gain] or [Loss] expected. It also helps set up TP/SL prices based on the [Last Price] or [Mark Price] and displays the estimated profit and loss for Take-Profit and Stop-Loss orders.
2. Which types of orders support the TP/SL function?
Excluding Trailing Stop Order, only Limit, Market, Stop Limit, Stop Market, and Post Only Orders are supported under the [TP/SL] function.
These orders are executed through the strategy order. Currently, Binance Futures supports two types of strategy: One-Triggers-a-One-Cancels-the-Other (OTOCO) and One-Triggers-the-Other (OTO). They allow you to place two orders – a primary order and a secondary order – at the same time.
In an OTOCO order, if the primary order is filled or partially filled, the secondary order will take effect (either Take Profit or Stop Loss). If TP is filled, SL will be canceled, and vice versa. This is also called an OTO order.
Note: If the trigger price of the secondary order is too close to the primary order, it is highly likely that the secondary order will be canceled when the primary order is executed. We recommend users set an ample price distance between the primary and secondary orders.
3. If I increase or reduce my position, will it trigger the TP/SL to close all my positions?
Yes, all positions will be closed after increasing or reducing the position. You can view the orders under [Open Orders] – [Close Position].
4. Can I set multiple TP/SL for my orders?
Yes, users can set multiple Take Profit and Stop Loss orders for each of their Long or Short positions. Note that the Take Profit and Stop Loss orders will be executed in the order that they were placed until the
of these orders meets the same size of the primary Long or Short position.
5. Can I view the unfulfilled TP/SL under [Open Orders]?
You can click [View] under [TP/SL] on the primary order to view unfulfilled TP/SL.
6. Are rules for Stop Limit/Stop Market/Trailing Stop Order the same?
There is no change to the Stop Limit/Stop Market/Trailing Stop Order shown below. You can choose whether to enable ‘Reduce-Only’, set Trigger price and Execution price, etc. Please note that the TP/SL set up here will not be shown in your positions, and it doesn’t support the [Close Position] function.