How To Set A Stop Loss On Binance
The terminate-limit lodge is one of 3 types of order that you tin find at Binance. However, before continuing, we recommend that you lot beginning learn about limits and market orders.
The all-time manner to understand how a stop-limit order works is to divide it into two parts, cease price and limit toll. The end price is the price that activates a limit club and the limit toll is the specific cost of the limit order that was activated. Therefore, as soon equally your finish price is reached, your limit order volition automatically be entered in the order volume.
Although the finish and limit prices may be the same, this is not a requirement. In fact, it would be safer to set the end price but higher up the limit cost (for sales orders) or just below the limit toll (for buy orders). This increases the chances that your limit order will be filled afterwards the stop-limit is triggered.
How to apply?
Say you lot just bought five BNB at 0,0012761 BTC because you believe the toll is close to a keen level of support and is probable to ascent from hither.
How to trade at binance: end-limit order and stop loss binance
In this situation, you can set a stop-limit order to alleviate your losses if your assumption is incorrect and the cost starts to autumn. To do this, log in to your Binance business relationship and go to the BNB / BTC market. And so click on the Finish-Limit tab and fix the stop and limit prices, along with the corporeality of BNB to be sold.
Therefore, if you believe that 0,0012700 BTC is a reliable back up level, you can fix a stop-limit order just below that price (if the price falls below the support). In this case, we volition define a stop-limit social club for 5 BNB with the stop price at 0.0012490 BTC and the limit cost at 0.0012440 BTC.
How to trade at binance: stop-limit guild and stop loss binance
When you click on Sell BNB, a confirmation window will announced. Make sure everything is correct and press Place Order to confirm.
After placing your limit-society, you will run across a confirmation message.
A little further down, on the same screen, you tin can view and manage your open up orders.
Note that the stop-limit order volition only exist placed if and when the finish price is reached, and the limit order will but be filled if the market toll reaches its limit price. If your limit order is triggered (by the stop price), simply the market cost does not reach the set price, the stop-limit club will remain open up.
Sometimes, you may exist in a state of affairs where the price drops very fast and your stop-limit gild is "crossed" without existence executed. In that example, you can manually resort to market orders to speedily get out of position.
When to apply?
Finish-limit orders are valuable as a adventure direction tool and you should apply them to avoid significant losses. It is worth remembering that they are also useful for placing sales orders in order to guarantee your profits when your trading targets are reached. Yous tin can too gear up a cease-limit order to buy an asset later a sure resistance level is breached, which could indicate the start of an upward tendency.
* PortalCripto values the quality of data and attests to the verification of all content produced by its team, emphasizing, however, that it does not make whatever type of investment recommendation, non being responsible for losses, amercement (direct, indirect and incidental) , costs and lost profits.
Source: https://portalcripto.com.br/en/how-to-trade-in-the-binance-stop-limit-order-and-stop-loss-binance/
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