How to set a stop loss on Binance
Not all cryptocurrency trading has promised zero risks, but Binance made a way to deal with losses. We provide the steps how to set a stop loss on Biance in three different ways.
Losing on cryptocurrency trading is never a good idea.To stop it from happening in the first concept you need to learn to limit further risk.The real question is – how to set a stop loss on Binance in simple ways.
3 Ways to Stop Loss on Binance
Binance Stop Limit
Clickthe stop limit order on the tab, with three blank parameters. The stop price is what appears on the order book, while the limit price is the amount you want to sell your token. The amounts will automatically react through a stop loss or any risky actions in trading.
It is a trading automation toolwhich can set a stop loss. It has three parameters, including price, profit, and amount. You can take advantage of its enhanced functionality like receiving SMS alerts and more. Whenever stop-loss triggers,a possible amount of loss will be displayed.
OCO stands for “order cancel order”. This is the way wherein you can set a stop loss and make a profit at the same time.It demands more parameters to fill up, including the price, stop, limit, amount, and total.