There are many traders who are unaware of how to set a stop loss on Binance. I wanted to share this post with a simplified and detailed explanation:
✅ How to set a Stop-Limit on Binance in easy steps
📌 A simple example:
You bought a coin at a price of $100, and you want to protect yourself from a significant loss if the price drops.
You set a stop loss at $90, meaning if the price reaches $90, you want the app to automatically sell the coin before the price drops further.
📲 How to set the stop loss on the Binance app or website:
Open the Binance app or log in from the browser.
Go to the trading page (Trade), and choose the pair in which you hold the coin (for example: BTC/USDT).
Select the "Sell" option.
From the order type (Order Type), choose "Stop-Limit".
Now you will see 3 fields to fill:
Stop (the price that triggers the sell order): for example, $90.00.
Limit (the price at which you want to sell): for example, $89.50 (a little lower than the Stop to ensure execution).
Amount (the quantity you want to sell): for example, 50% or part of it.
Press the "Sell" button to execute the order.
⚠️ Important notes to understand the difference:
Stop: the price that automatically triggers the sell order when reached.
Limit: the price at which you actually want the sale to occur, and it is usually a little lower than the Stop to ensure a quick sale.
🛡️ In summary:
If the price of the coin drops and reaches $90, the system starts selling the coin at a price close to $89.50, which protects you from larger losses if the price continues to decline.