⚠️Protect Your Assets⚠️
Here's How to Use Stop-Loss & Limit Order on Binance
In the volatile world of crypto trading, two important features that you must master are Stop-Loss and Limit Order. Both help you maximize profits and minimize losses.
A Limit Order is used when you want to buy or sell an asset at a specific price. For example, if you want to buy BTC when the price drops to $60,000 (currently $61,500), you simply create a limit buy order at $60,000. This order will only be executed if the price touches that point.
A Stop-Loss is a feature to reduce losses when the price drops sharply. For example: if you buy ETH at $3,000 and want to limit your loss to 10%. You can set a stop-loss sell at $2,700. If the price of ETH drops to $2,700, the system will automatically sell your ETH to prevent greater losses.
How to Set Up on Binance:
1. Open the trading page.
2. Select "Stop-Limit" below the chart.
3. Fill in the "Stop" (trigger) price, "Limit" (order price), and the amount of coins.
4. Click "Buy" or "Sell" as needed.
By understanding these features, you can trade more disciplined and not panic when the market is fluctuating.
