Is there a way to automate stop loss orders on the Binance app for my digital currency investments?

1 answers

• AKSHAJ BISHTMay 29, 2023 · 2 years ago
  Sure thing! Binance allows you to automate stop loss orders on their app, making it easier to protect your digital currency investments. To set up an automated stop loss order on the Binance app, follow these steps: 1. Open the Binance app and navigate to the 'Trade' section. 2. Choose the trading pair you want to place the stop loss order for. 3. Select 'Stop-Limit' as the order type. 4. Specify the stop price, which is the price at which the stop loss order will be triggered. 5. Set the limit price, which is the price at which the stop loss order will be executed. 6. Enter the quantity of digital currency you want to sell. 7. Click 'Sell' to place the stop loss order. Once the market reaches the specified stop price, the stop loss order will be automatically triggered and executed at the limit price you set. This way, you can automate the process and protect your investments without constantly monitoring the market.
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