Pay Attention to This Tip

On Binance, you can use #StopLoss by setting up a Stop-Limit order or a Stop Market order. Here is a simple step-by-step guide to set it up:

Step by Step to Set Up Stop Loss on Binance

1. Access Binance

Open the Binance app or website.

Go to the trading page of the pair you want to operate (e.g., OG/USDT).

2. Choose the Order Option

Tap on "Sell" (if it's Stop Loss to avoid losses).

Choose the "Stop-Limit" or "Stop Market" option in the order type.

3. Set the Values

STOP (activation price): The price that, when reached, will activate the order.

LIMIT (selling price): The price at which the order will be executed (if using Stop-Limit).

Quantity: Set the amount of coins you want to sell.

Example of Stop-Limit:

Suppose that $OG /USDT is at $4.46 and you want to limit losses if it falls below $4.30.

STOP: 4.32 (if the price falls to here, the order will be activated).

LIMIT: 4.30 (the price at which you will sell the coins).

Example of Stop Market:

If you want to sell instantly as soon as it hits a value, use Stop Market. So, if the price hits $4.32, your order will be executed at the best available market price.

4. Confirm the Order

Click on "Sell" and confirm the order.

Now, your order is set and will be activated automatically if the price reaches the defined value. Thus, you protect your capital against sharp declines.