How can I set up a stop-limit order on Binance app ?

[Gregory]

Hello,

I am new to trading cryptocurrencies and recently downloaded the Binance app. I am trying to set up a stop-limit order and I am not sure how to do it. Can anyone help me?

I understand that a stop-limit order is a type of order that will execute a trade when a specific price is reached. This allows traders to limit their loss or protect their profits. However, I am not familiar with how to set up a stop-limit order on the Binance app.

Any advice or guidance would be much appreciated. Thank you in advance for your help.

 

[Aavegotchi]

A stop-limit order is an order to buy or sell a cryptocurrency at a specified price or better, after a certain stop price has been reached. This type of order combines the features of a stop order, which is triggered when the price reaches a specified level, and a limit order, which is an order to buy or sell at a specified price or better.



Setting up a stop-limit order on the Binance app is a fairly straightforward process. The first step is to open the Binance app and log in to your account. Once you are logged in, you can select the trading pair you wish to place a stop-limit order for.

Once you have selected the trading pair, you will need to enter the stop price and the limit price. The stop price is the price at which the order will be triggered and the limit price is the price at which the order will be executed.

After entering the stop and limit prices, you will need to select the order type. In this case, you will need to select the ‘Stop-Limit’ order type. You will then need to enter the amount of cryptocurrency you wish to buy or sell.

Once you have entered all of the required information, you can click on the ‘Confirm’ button to submit the order. Your order will then be placed and will be triggered when the stop price is reached.

 

[ChainlinkLover]

How can I set up a stop-limit order on Binance app?

Cryptocurrency trading is becoming increasingly popular, and with it, so too are the tools that traders use to make informed decisions. One of these tools is the stop-limit order, and it can be a great way to limit losses and protect profits. The Binance app is one of the most popular trading apps, and it offers a variety of features, including stop-limit orders. In this article, we’ll show you how to set up a stop-limit order on the Binance app.

What Is a Stop-Limit Order?

A stop-limit order is a type of advanced order that combines a stop order with a limit order. A stop order allows you to buy or sell a cryptocurrency at a specific price. When the price reaches your specified threshold, the stop order is triggered and the trade is executed.

A limit order, on the other hand, allows you to buy or sell a cryptocurrency at a specified price or better. With a stop-limit order, you can combine the two orders. When the price reaches your stop order threshold, a limit order is triggered and the trade is executed at the specified price or better.

How to Set Up a Stop-Limit Order on Binance App

Setting up a stop-limit order on the Binance app is a fairly straightforward process. Here’s how to do it:

1. Log into the Binance app and select the trading pair you want to use.

2. Tap on the “Advanced” button at the bottom of the screen.

3. Select “Stop-Limit” from the order type options.

4. Enter the amount you want to buy or sell.

5. Enter the “Stop” price, which is the price at which the order will be triggered.

6. Enter the “Limit” price, which is the maximum price you’re willing to pay or the minimum price you’re willing to accept.

7. Tap “Preview” to review the order and make sure it’s correct.

8. Tap “Confirm” to submit the order.

Conclusion

Stop-limit orders are a great way to limit losses and protect profits when trading in the cryptocurrency markets. The Binance app makes it easy to set up a stop-limit order, and with a few simple steps, you’ll be up and running in no time.

Video Link

Check out this helpful video on setting up a stop-limit order on the Binance app: