A Quick Guide for Binance Traders
1. Percentage-Based Stop Loss
Set a stop loss at a fixed percentage below your entry price (e.g., 2-5%). Ideal for beginners to limit losses.
2. Trailing Stop Loss
This adjusts automatically as the price moves in your favor, locking in profits while minimizing risk.
3. Support Level Stop Loss
Place your stop just below a key support level. If price breaks it, it may signal a trend reversal.
4. Volatility-Based Stop Loss
Use indicators like ATR (Average True Range) to set stops based on market volatility.
Tip: Always define your risk level per trade and stick to your strategy.