Setting limits on binance is a process of setting maximum and minimum prices for your trades. By doing so, you can control how much you’re willing to spend on each trade, and avoid accidentally overspending.
There are two types of limits that can be set on binance: trade limits and order limits.
Trade limits are the maximum and minimum prices that you’re willing to accept for a trade. They’re set by you, the user, and they’re used to make sure that you don’t accidentally overspend on a trade.
Order limits, on the other hand, are set by the binance system itself. They’re designed to protect against price manipulation, and they ensure that all trades are executed at a fair price.
To set a trade limit, simply go to the “trade” tab on binance, and click on the “limit” button. From there, you’ll be able to set your maximum and minimum prices.
Order limits can be found under the “order” tab, and they can be adjusted by clicking on the “limit” button.
It’s important to remember that setting limits is only half of the equation; you also need to make sure that you stick to them. Once you’ve set your limits, it’s up to you to make sure that you don’t overspend.
If you do find yourself in a situation where you’ve overspent, don’t panic; just cancel the order and try again. With a little practice, setting limits will become second nature.
In conclusion, setting limits on binance is a process of setting maximum and minimum prices for your trades. There are two types of limits that can be set on binance: trade limits and order limits.
Trade limits are set by the user, while order limits are set by the system itself. It’s important to remember that setting limits is only half of the equation; you also need to make sure that you stick to them. With a little practice, setting Limits will become second nature.