โ How to use the Limit TP/SL tool on the Binance platform ๐ก
๐ Illustrative example:
Let's assume you bought currency XYZ at a price of ๐ต 100 dollars, and you want to:
Sell it at a higher price (e.g., 120) to take profits.
Or sell it automatically at a lower price (e.g., 90) to minimize losses.
The Limit TP/SL tool allows you to set two orders simultaneously in the same trade.
๐ฒ Steps on the Binance app:
1. ๐ Log in to your account from the app.
2. ๐ Go to the "Trading" section and select "Open Orders" or "Position".
3. Select your open order on a currency like XYZ/USDT.
4. Press "Take Profit / Stop Loss".
๐งฎ Fields will appear for you to fill out:
โ Take Profit (profit): the price at which you sell to make a profit (e.g., 120.00)
โ Stop Loss (loss): the price at which you sell to minimize loss (e.g., 90.00)
๐ฆ Amount: the quantity you want to sell (e.g., 100%)
Then press confirm โ to save the order.
โ ๏ธ Important notes:
This tool is often used in futures trading.
You can set a profit point and a loss limit at the same time.
It protects you from market fluctuations without manual intervention.
๐ง Final example to clarify the idea:
๐งพ Field ๐ Value
Take Profit โ 120.00
Stop Loss โ 90.00
Amount ๐ฆ 100%
If the price reaches 120, the order closes with profit.
If it drops to 90, it will close automatically to avoid larger losses.
๐Click here for free coins๐ต๐ค
