$BTC

Since a number of esteemed followers have requested more clarification regarding the method of setting a stop-loss on Binance, I wanted to share this post with a simplified and detailed explanation.

✅ How to set a stop-loss (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 application to sell the coin automatically before the price drops further.

📲 How to set a stop-loss on the Binance app or website:

Open the Binance app or log in from your browser.

Go to the trading page (Trade), and choose the pair in which you hold the coin (for example: XYZ/USDT).

Select the "Sell" option.

From the order type (Order Type), choose "Stop-Limit".

Now you will see 3 fields to fill out:

Stop (the price that activates the sell order): for example, $90.00.

Limit (the price at which you want to sell): for example, $89.50 (a little less than the Stop to ensure execution).

Amount (the quantity you want to sell): for example, 100% or a part of it.

Press the "Sell" button to execute the order.

⚠️ Important notes to understand the difference:

Stop: the price that automatically activates the sell order when reached.

Limit: the price at which you want the sale to actually occur, and it is usually a little less than Stop to ensure a quick sale.

🛡️ In summary:

If the price of the coin drops and reaches $90, the system will start selling you the coin at a price close to $89.50, which protects you from larger losses if the price continues to decline.