How to Use a STOP LOSS on Binance | Set Stop Limit ✅ Explained For Beginners! Put Stop Loss BINANCE
0Ever wondered how to use a stop limit or stop loss on Binance? In this guide, we’ll explain these important trading tools and show you how to use them effectively to protect your investments and manage risks while trading crypto.
A stop loss is a tool that helps you limit your losses by automatically selling a cryptocurrency when its price reaches a certain level. Similarly, a stop limit is a more specific type of order that gives you even greater control over the price at which your asset is sold. Both are designed to help prevent emotional decision-making during market volatility and provide protection for your trades.
To use a stop loss on Binance, the first step is to log in to your Binance account and navigate to the "Spot Trading" section. From there, choose the cryptocurrency pair you’re trading (for example, BTC/USDT), and you’ll be taken to the trading interface where you can place your orders.