https://ibb.co/42y90gsThis is the OCO window on my binance.us exchange. I'm just using it for an example.
I making this post to check and see if I understood what I learned about this via googling it out and youtubing it out:
Inputs:
Price------------------ the price of the cryptocurrency in question in which I want to sell
Stop------------------ the price in which I want to sell x amount of coins if the value of said coins drops to a certain level(if this order is fulfilled, it'll cancel the higher price that I want to sell, but if
the higher price is reached before the price I input in "Stop", it'll cancel the sell order I typed in this "Stop" box, thus this being called a OCO order as in "order cancels order"
Limit----------------- the price I want the OCO bot to stop buying coins (for example, if I want to sell x amount of dogecoins when it makes it to .30/coin (USD) but but not sell anymore if the price
goes above .30/coin (USD)
Amount-------------- the x amount of coins I want to purchase
slider----------------- just a lazy way to decide my "x amount" of coins that I want to buy
Total----------------- how much my "x amount" of coins would cost me in USD
Do I finally "get" how to make an OCO order or do I not understand this correctly?