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If you want to buy a specific currency in the spot market on Binance and want to sell automatically when the price rises (take profit) or when it falls (stop loss), follow these simple steps:
1. Log in to your Binance account
Open the Binance app or website.
Log in to your account.
Go to the spot trading section.
2. Choose the currency and buy it
Find the pair you want to trade, such as BTC/USDT.
Press the Buy option.
Choose the order type "Limit" if you want to buy at a specific price, or "Market" if you want to buy immediately at the market price.
Enter the amount you want to buy, then press Buy.
3. Set up the automatic sell order when profit is achieved
After buying the currency, you want it to be sold automatically when the price reaches a certain level to take profit.
Go to "Spot Trading".
Choose the currency you bought (e.g., BTC/USDT).
Press "Sell".
Select the order type "Stop-Limit" or "OCO" (preferred).
In the stop price (Stop), enter the price at which the sell order will be activated.
In the sell price (Limit), enter the actual price you want to sell.
Enter the amount you want to sell, then press "Sell".
✅ Example: If you bought BTC at a price of 60,000 USDT and want to sell at 65,000 USDT, you will set:
Stop price (Stop Price): 64,900 USDT
Sell price (Limit Price): 65,000 USDT
4. Set up automatic stop-loss.
To prevent large losses, you can set up an automatic stop-loss order using the "Stop-Limit" order:
Select "Sell".
Select the order type "Stop-Limit".
In the stop price (Stop), enter the price at which you want the sell to be activated.
In the sell price (Limit), enter the minimum price you accept to sell.
Enter the amount you want to sell, then press "Sell".
✅ Example: If you bought BTC at a price of 60,000 USDT and want to stop loss at 58,000 USDT, you will set:
Stop price (Stop Price): 58,100 USDT
Sell price (Limit Price): 58,000 USDT
5. Monitor and control orders
You can monitor your orders through:
Go to "Open Orders" to view, modify, or cancel any order.
If the price rises and reaches the target, the sell order will be executed automatically.
If the price drops and reaches the minimum, the stop-loss order will be activated automatically.
Important advice
✅ Use an OCO (One Cancels the Other) order to set a take profit and stop loss together, so if one is triggered, the other is automatically canceled!
Simply put
Buy the currency from the spot trading.
Place an OCO order to set the take profit and stop loss at the same time.
Monitor the open orders to ensure they work as you want.
✨ This way, you will easily buy the currency and set your profits and losses automatically!