How to use a Stop Limit – Stop Loss on Binance

what’s up everybody in this video we’re gonna be looking exactly at stop them in order this is one of three order types you can find here on buy Nance but before proceeding with this one I definitely recommend you to get acquainted with market and limit orders especially with limit order because without knowing what is limit order and how it functions it would be very hard for you to understand stop limit okay and if you want to see another full explanation of this issue click here on this question mark view more and here we have a small article from by Nance on how to use stop limit function very brief very small and very useful ok let’s go for it stop limit order basically is more complex the limit order the best way to understand stop limit order is to break it down into two different aspects stop price and limit price the stop price is just gonna be the price that triggers a limit order and the limit is pretty much standard limit order what it means is once your stop price has been reached your limit order will be immediately placed so here’s the first example on how to cut your losses with a stop limit feature this is BTC used apparel and imagine that I want to buy a Bitcoin in this small consolidation area meaning that I think that the price will go up from this point and not to lose a lot of my position I will place my stop limit order somewhere below that support level let’s say my stop price will be 6 or 255 my stop price 6055 and my limit price will be even lower than my stop price is just to be on the safe side that your limit order will be fully filled ok choose amount of your bid see I will choose one half percent it shows the total amount in unity click sell bit see and here here we can see small clarification if the last price drops to or below 60 55 USD in order to sell our amount of bitsy at the price of 60 to 50 you City will be placed click place order here we can mind monitor all your open orders and one thing worth mentioning if the price goes rapidly down from that point like it did here there are still some chances that your limit order might not be fully filled so you gotta be careful with that and you’d better keep an eye on your position in so volatile market okay let’s go to another example this example is how we can catch breakout using stop limit feature here we have our resistant level the price 66 21 it’s quite strong and got rejected from it’s an all-time before here here and here and it’s more likely if we break this was this level we’re gonna go higher so if you don’t want to miss that opportunity you can catch that breakout by using stop limit order but we will place it a bit higher than always in case it’s gonna be false breakout so let’s say I wanna place my stop price somewhere around 6 to 650 I did it already and my limit price will be even higher than that at 66 70 again just amount and by busy and again that means if price ever touches 6650 our limit order will be placed at 66 70 I guess that’s quite clear okay so thank you for your attention and remember good trader always cares about risk this type of orders is one of the best features out there to help you with that thank you

14 thoughts on “How to use a Stop Limit – Stop Loss on Binance”

  1. If you have Bitcoin and you sell it where does the USD go? How do you get it off the Exchange to your bank account of wallet?

  2. Hello. What's the difference with a limit order then? Because if its get through your limit, it goes through your stop for sure

  3. won't the same thing happen if we place limit order instead of stop limit? what purpose does that additional trigger feature fulfills?

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