Risk management isn’t just important — it’s everything in trading. Here’s how to protect your capital and lock in profits with Stop Loss (SL) and Take Profit (TP) orders on Binance.
🛑 Stop Loss (SL)
An SL automatically closes your trade if the price drops to a certain level — preventing small losses from becoming big ones.
💰 Take Profit (TP)
A TP automatically sells your position when your profit target is hit — securing gains before the market turns.
📌 How to Set SL & TP on Binance
1️⃣ Open the Trade screen.
2️⃣ Select your trading pair and choose Limit, Market, or Stop-Limit order type.
3️⃣ For Stop Loss:
- Use a Stop-Limit order.
- Set your stop price (trigger) and limit price (execution).
4️⃣ For Take Profit:
- Use a Limit order at your target price or a Stop-Limit with your target as the trigger.
⚡ Pro Tips
For longs: SL should be below entry price.
For shorts: SL should be above entry price.
Choose TP levels based on support/resistance or your risk–reward ratio.
Always use SL & TP together — automate exits, reduce stress, protect profits.
✅ Mastering SL & TP = longer trading life + consistent profits