๐ Crypto 101: How to Set a Stop-Limit Order on Binance ๐
Worried about losses or want to secure profits automatically? The Stop-Limit order is your best friend on Binance! Here's how to use it like a pro:
๐น Step 1: Open the Binance app and go to the Trade section.
๐น Step 2: Choose your trading pair (e.g., BTC/USDT).
๐น Step 3: Tap on Stop-Limit from the order types.
๐น Step 4: Set your Stop Price โ when this price is reached, your limit order will be placed.
๐น Step 5: Set your Limit Price โ the price at which your order will execute.
๐น Step 6: Enter the amount of crypto you want to trade and tap Buy or Sell.
๐ง Example:
If BTC is at $30,000 and you want to sell if it drops to $29,500:
๐ Set Stop = 29,500
๐ Set Limit = 29,400
๐ This ensures your sell order triggers before the price drops further!
โ Pro Tip: Always leave a little buffer between your stop and limit prices to increase execution success.
๐ฌ Drop a ๐ if you found this useful, and follow for more Binance tips!
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