#StopLossStrategies

Stop Loss

​To set a stop loss order on the Binance platform, you can

log in to your account: open the Binance platform and log in to your trading account.​

Select Trading Pair: Choose the cryptocurrency pair you want to trade, such as BTC/USDT.​

Go to Trading Interface: After selecting the trading pair, go to the advanced trading interface.​

Specify Order Type: In the "Place Order" section, choose the order type "Stop-Limit".​

Enter Order Details:

Stop Price: Specify the price at which the sell order will be activated.​

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Limit Price: Specify the price at which you want to sell the currency after the stop order is activated.​

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Amount: Specify the amount of currency you want to sell.​

Review and Confirm Order: After entering all details, review the information to ensure its accuracy, then click on "Sell" to activate the stop loss order.​

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For example, if you own a coin that is currently trading at $100, and you want to limit your losses in case the price drops, you can set the stop loss order as follows:​

Stop Price: $95.​

Limit Price: $94.​

Amount: The number of units you own or a portion of it.​

This means that if the price of the coin drops to $95, a sell order will be activated at $94.