โ
How to Use the Trailing Stop Tool to Protect Your Profits on Binance ๐ก
๐ Example:
Let's assume you bought a cryptocurrency named XYZ for ๐ต 100, and you want to secure profits in case the price rises, but without setting a fixed selling price, instead you want the selling order to move automatically with the price increase.
This is where the Trailing Stop tool comes into play!
๐ฒ Steps on the Binance App or Website:
1. ๐ Log into your Binance account from the app or browser.
2. ๐ Go to the "Trade" section and search for the currency pair like XYZ/USDT.
3. ๐ฉ Select "Sell," then change the order type to Trailing Stop.
๐งฎ You will see fields that need to be filled out:
๐ Activation Price (optional): the price at which the trailing starts (example: 105.00)
๐ Callback Rate: the percentage by which the price moves away from the peak before executing the selling order (example: 5%)
๐ฆ Amount: the quantity you want to sell (e.g., 100% or part of it)
Then press the ๐ด "Sell XYZ" button to set up the order.
โ ๏ธ Important Notes:
The Trailing Stop moves automatically with the price if it increases.
When the price drops by a certain percentage (callback rate) from the highest point it reached, the sale is executed.
You do not need to monitor the market โ the tool works automatically to protect your profits.
๐ง Final Example to Illustrate the Idea:
๐งพ Field ๐ Value
Activation Price 105.00
Callback Rate 5%
Amount 100%
If the price rises to 110 dollars and then starts to drop by 5%, the sale will be executed at approximately 104.50 dollars.
#TrailingStopLoss
#ุชุฏุงูู_ุฐูู
๐ Example:
Let's assume you bought a cryptocurrency named XYZ for ๐ต 100, and you want to secure profits in case the price rises, but without setting a fixed selling price, instead you want the selling order to move automatically with the price increase.
This is where the Trailing Stop tool comes into play!
๐ฒ Steps on the Binance App or Website:
1. ๐ Log into your Binance account from the app or browser.
2. ๐ Go to the "Trade" section and search for the currency pair like XYZ/USDT.
3. ๐ฉ Select "Sell," then change the order type to Trailing Stop.
๐งฎ You will see fields that need to be filled out:
๐ Activation Price (optional): the price at which the trailing starts (example: 105.00)
๐ Callback Rate: the percentage by which the price moves away from the peak before executing the selling order (example: 5%)
๐ฆ Amount: the quantity you want to sell (e.g., 100% or part of it)
Then press the ๐ด "Sell XYZ" button to set up the order.
โ ๏ธ Important Notes:
The Trailing Stop moves automatically with the price if it increases.
When the price drops by a certain percentage (callback rate) from the highest point it reached, the sale is executed.
You do not need to monitor the market โ the tool works automatically to protect your profits.
๐ง Final Example to Illustrate the Idea:
๐งพ Field ๐ Value
Activation Price 105.00
Callback Rate 5%
Amount 100%
If the price rises to 110 dollars and then starts to drop by 5%, the sale will be executed at approximately 104.50 dollars.
#TrailingStopLoss
#ุชุฏุงูู_ุฐูู