How To Set Stop Limit Binance

The finish-limit order is one of iii types of guild that yous tin discover at Binance. Yet, before continuing, nosotros recommend that you first learn about limits and market orders.

The best way to understand how a stop-limit club works is to divide information technology into ii parts, terminate price and limit cost. The stop price is the price that activates a limit order and the limit price is the specific price of the limit lodge that was activated. Therefore, every bit presently as your stop price is reached, your limit order will automatically be entered in the order volume.

Although the cease and limit prices may be the aforementioned, this is not a requirement. In fact, it would be safer to set the stop toll simply above the limit price (for sales orders) or just beneath the limit toll (for buy orders). This increases the chances that your limit order will be filled later the stop-limit is triggered.

How to use?

Say you just bought 5 BNB at 0,0012761 BTC considering you believe the price is close to a smashing level of back up and is likely to rise from hither.

How to trade at binance: terminate-limit club and terminate loss binance

In this situation, yous can set a stop-limit order to alleviate your losses if your assumption is incorrect and the price starts to fall. To do this, log in to your Binance account and become to the BNB / BTC market. Then click on the Stop-Limit tab and set the terminate and limit prices, along with the amount of BNB to be sold.

Therefore, if you believe that 0,0012700 BTC is a reliable support level, you can set a stop-limit order just beneath that price (if the price falls below the support). In this case, we will ascertain a stop-limit guild for 5 BNB with the cease price at 0.0012490 BTC and the limit cost at 0.0012440 BTC.

How to merchandise at binance: stop-limit order and stop loss binance

When yous click on Sell BNB, a confirmation window will appear. Make sure everything is correct and press Place Order to confirm.

After placing your limit-club, you will see a confirmation message.

A little farther down, on the same screen, you tin can view and manage your open up orders.

Annotation that the stop-limit order volition only be placed if and when the stop price is reached, and the limit order will but exist filled if the marketplace cost reaches its limit toll. If your limit lodge is triggered (by the stop price), but the market price does not reach the set price, the finish-limit order volition remain open.

Sometimes, you may be in a situation where the price drops very fast and your stop-limit order is "crossed" without being executed. In that case, you can manually resort to market orders to speedily become out of position.

When to apply?

Finish-limit orders are valuable as a adventure direction tool and you should use them to avert pregnant losses. It is worth remembering that they are also useful for placing sales orders in guild to guarantee your profits when your trading targets are reached. Yous tin too set a stop-limit order to buy an asset later on a certain resistance level is breached, which could indicate the first of an upward tendency.

* PortalCripto values ​​the quality of information and attests to the verification of all content produced by its squad, emphasizing, however, that it does not make whatsoever type of investment recommendation, non being responsible for losses, damages (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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