Binance, Exchanges

How Do You Set a Stop Limit in Binance?

A stop limit is an order type that combines the features of a stop order with those of a limit order. A stop limit order becomes a limit order when the price of the cryptocurrency reaches the stop price.

As with a regular limit order, the trade will only be executed at or better than the specified limit price.

To set a stop limit in Binance, first select the “Exchange” tab at the top of the screen. Then, choose the currency pair you wish to trade in the “Market” section on the left-hand side.

Once you have selected your currency pair, click on the “Stop-Limit” tab just below the chart on the right-hand side. This will bring up an order form.

NOTE: WARNING: Setting a stop limit in Binance involves a significant amount of risk. You should be aware that by setting a stop limit, you may lose all or some of your funds. You should only use this feature if you are an experienced trader and understand the risks associated with it. Furthermore, please make sure to double-check all parameters before creating the order.

Enter your “Stop Price,” which is the price at which you want your limit order to be triggered. Then, enter your “Limit Price,” which is the price at which you are willing to buy or sell your cryptocurrency.

Finally, enter the amount of currency you wish to trade in the “Amount” field.

Once you have entered all of this information, click on the “Buy Limit” or “Sell Limit” button depending on what type of trade you wish to make. Your stop limit order will now be placed and will remain active until either it is executed or canceled.

A stop limit is a great way to protect yourself from sudden market changes while still getting involved in potentially profitable trades. It is important to remember, however, that a stop limit order is not guaranteed to be executed at your desired price.

If the market moves too quickly, your order may never be filled.

Previous ArticleNext Article