🔥FOR BEGINNERS🔥😭 LEARN HOW TO STOP LOSS IN YOUR QUEST TO MAKE $100 ON BINANCE🤑
When engaging in spot-trading , you will come across an icon labelled Stop Loss and another one labelled limit.
I want to explain what these two icons mean.
If you have already bought a coin, say $WCT , and are looking to make a profit, you aim to sell it at a price higher than the buying price.
Optimistically, optimistically, you hope the price is going to increase . However , at times, the price of the coin may instead keep going down, below your buying price.
A stop loss price is set to minimize the loss by automating a selling price if the coin starts declining in price.
For example, $BANANAS31 is at 0.016USDT and based on your analysis, you hope that the price will increase. However, you are willing to take a loss of 0.001. You will set the stop price such that it accounts for the loss you are willing to make. Once the market price reaches that price, the order will be automatically executed.
In case the market price doesn't reach your limit, the order will not be executed and you can sell the coin at a higher price. You can do the same for other crypto including $XRP
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