How To Use Stop Limit For Take Profit And For Stop Loss On Binance

In this Blog, I will show you how you can use the STOP LIMIT feature on Binance. you can use this feature for Profit and for STOP LOSS. 

Must use this feature if you want to trade the safe side and want to earn something good.

You bought a coin but it will be highly increased.

Suddenly you see a market after sleeping, coin value is more decreases.

You are going to lose.

You buy a coin at some price and suddenly it is going down.

In the second condition you are not using the application and the coin increases, it is the best time for selling but you are busy with some work.

There is a solution to this problem STOP LIMIT.

I will tell you how you can make a profit from this feature and also how you can save yourself from loss.

STOP LIMIT to TAKE PROFIT:

Now I am using an application to take profit from this feature.

Open Application.

Click Wallet.

Click Spot.

There are many coins shown which are bought.

Click any coin which you bought.

Here I set an order that when the coin increases and I set a limit that on this limit my coin automatically sells.

First, Select Stop Limit.

Set an order that when the coin comes in 320.

Sell a coin on 315.

All 100% amount will be sold.

Click SEll BNB.

Here is shown an order.

Order trigger when the coin comes in 320.

STOP LIMIT to STOP LOSS:

Now I am telling you how to stop loss using the Stop limit feature.

Open Application.

Click Wallet.

Click Spot.

There are many coins shown which are bought.

Click any coin which you bought.

I Selected BNB.

For Example, if You buy a coin at night time and you sleep then the coin value suddenly decreases, So here is a solution to save a coin value from losing.

Stop limit save from the dump.

Here I set an order that when the coin increases and I set a limit that on this limit my coin automatically sells.

First, Select Stop Limit.

Set an order that when the coin comes in 290.

Sell a coin on 285.

All 100% amount will be sold.

May be coin is going down more so I have to save my coin.

Click SEll BNB.

My coin will be sold on which I set a limit, there will be a little bit of loss but it is a safe thing for me that I escape from large losses.

You can change the order according to the market if you are seeing the application.