Do you want to learn how to set a stop loss on Binance and the proper way to use stop limit order? This 2018 Binance tutorial is for beginners already invested in cryptocurrency like Bitcoin and Ethereum and want to know how to use Binance exchange for buying and selling alternative coins.
We start the video tutorial on the Binance dashboard, here we will search for Ripple coin (XRP) on the Bitcoin market. I will then proceed to the Binance advance chart page. Once on this page, I will teach you how to buy and sell altcoins using market, limit or stop-limit orders.
I will start with a market order example. This is simply an order purchased directly off the order books and will be processed instantly. Next I will place a limit order, this is a more complex order type which involves a price trigger. In this example order I will show you how to assess the market and then set the appropriate price limit for purchasing Ripple.
In the final section of the Binance tutorial you will see live Ripple examples of stop loss order and stop-limit order. Learning how to do these orders correctly will enable you to leave your computer screen without the worry of losing your money, instead you can actually make profits without pressing a button.
☑️ Register to Binance and start to buy and trade altcoins:
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if i have 10eth for exemple..
i want a stopploss and a takeprofit.
i think on binance you just can make 1order for the coin.
u can say stop loss 5eth
and profit for 5 eth..
but not stoploss for all 10eth and then also make a profitstop for these 10..
you just can use the coin once...
or is there on binance a possibility to use both stops for the one and same coin???
thx for the video.. i can show these to my friends
Hello Satoshi. A very interesting video. I use limit orders and you are right you can find the order is not filled especially if you are aiming for a discount by placing your limit order below what I consider the base low, if you follow. So we buy in the red and sell in the green. the aim being to make a profit every time. Can you use the stop limit and still make a winning trade every time? And if so how or do I need to listen again because I was listening for that connection. My understanding of stop limits is you want to avoid making bigger losses. In my case I don't want to make any losses period which means I use a manual approach to set the limit buy physically buy when I think I am making a reasonable profit. Now you mentioned I could set a price at which I want to sell. What happens if the price goes past that price I have set to sell and nobody buys? Would this mean I would be left with a bag of coins hanging in the air? My limited understanding is what I call the manual approach of setting a limit order and physically selling can be counterproductive. Hallam in always sunny Barbados.
I enjoyed the video, thank you. Also, I got a couple questions for you. First, can you actually trade on binance in USD? I thought you can only trade coins in it.Also, I hear a lot about how it's strongly advised to keep your coins in cold storage. Do you have any concerns about leaving your coins on the exchange?
hi, great video, ive subscribed. I have a question, can i add two limit orders for the same coin so a stop limit to sell at a low price and a stop limit at say 5% increase ?
so far from messing around i find that i can either place a safety stop limit to mitigate loss but cannot add a stop limit to sell at a higher price ? please help
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