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How to Set a Stop Loss on Binance - Proper Way to Use Stop Limit Order (Live Ripple Example)

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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: http://bit.ly/START-BINANCE 🎥 Learn How to Buy Altcoins on Binance Exchange: https://www.youtube.com/watch?v=8LkD5OvPmJI&t=3s 🎥 Learn How to Deposit Bitcoin from Coinbase to Binance: https://youtu.be/V5Fi9Avie4k ------------------------------------------------------ Connect with Satoshi Scope ✅ Steemit: https://steemit.com/@satoshiscope ✅ Tumblr: https://satoshiscope.tumblr.com/ ✅ Medium: https://medium.com/@satoshiscope ✅ Blogger: https://satoshiscope.blogspot.com/ ✅ Contact: [email protected] ------------------------------------------------------ 🚩 Note: The following content is not financial advice, this is my own personal advice/opinion after extensive research and experience. It is highly advised that you do your own research prior to making any financial investments. Any content should not be treated as explicit financial, trading or otherwise investment advice. 🚩 Disclaimer: The following video content and description may include affiliate links. This means if you click on one of these product links, I will receive a small commission. These commissions help support my channel and I only use reputable companies and products that I personally use. Thanks so much for your support!
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Text Comments (69)
Satoshi Scope (5 months ago)
What is your favorite trading pair on Binance? Bitcoin, Ethereum or Binance Coin? Let me know in the comments below. Thanks for watching :)
J bell (1 month ago)
Wat about tether? Asking
Zambo (3 months ago)
ONT BTC and EOS BTC
Ricardo Nepacina (3 months ago)
Tron Trx🚀
eth
david woods (4 months ago)
whether you are aware or not when we tried to post a public comment about this video it simply disappeared and did not post.
j bloggs (5 hours ago)
You have explained a difficult subject for newbies very well, thanks.
C J Allison (10 days ago)
Very helpful content. Have subbed. Please blink and smile to improve performance.
Petar Stamenkovic (11 days ago)
Thank you for this video. Stop= price you want your order to show up Limit= price you want to sell your coin So following your own example, if you want to sell XRP when it hits 8k satoshis, you'd set the stop to 8010 satoshies, and limit to 8k. That way, when the market price hits 8010 satoshies, your order to sell @ 8k would be posted. If the price goes down even further, all the way down from 8010 to 8000, your order would fill and you'd sell your coins. You can do the same for buying- set to buy @ 8k (limit) when the price drops to 8010s (stop). No need to spread higher than 10 satoshies for the high volume coins like XRP. Good luck.
mickel ans (13 days ago)
Awesome thanks!
CM RJ (17 days ago)
very helpful!
Whoa Brian (18 days ago)
Thanks for the video! I was so confused when it came to stop limit orders, but you cleared it up quite well. Thanks. Question: can I set more than one stop limit to sell on a single trade? One stop for loss protection and the other to sell at a certain gain? Thank you!
j bloggs (19 days ago)
Very well explained, thanks.
My favorite trading pair is US dollars... Because if I trade in altcoin with Bitcoin and then Bitcoin drops then I lose money... But when I sell my alts for usdt then I don't have to worry so much about watching my account
Carol Capner (21 days ago)
Well, that was excellent and very clear. TQ
Stephen dela Cruz (26 days ago)
Kickass orders tutorial walkthrough! 👍 This is awesome! That limit order is better for discount price and as a default order. You can stop-limit buy (dip) and stop limit sell (stop loss) & stop limit buy (take profit). I never thought stop-limit orders can be so versatile! 😎
Mahdi Julaye (30 days ago)
good content but you look like a zombie man cheer up
riceX (1 month ago)
Does the Stop-Limit also work if you are shorting the BTC market?
Stephen dela Cruz (26 days ago)
Ah... yes! It's pretty much self-explanatory.
music matters (1 month ago)
Great video i subbed
Charles Ezekwesili (1 month ago)
Ethereum my favorite
Romeo Casper (1 month ago)
Great Vid!
temax (2 months ago)
Why on Earth would you want to buy at a higher price a coin that is already cheaper at market price?
PuralityHD (7 days ago)
Speculating an upward trend. Never make these tight however.
karren vee (2 months ago)
are you a beginner ?? looking to start earning on bitcoin in no time, Mr BTCKYLE has the fastest miner as for now
Rudin Karyanto (2 months ago)
Can you make video about how to save your binance account into wallet. I am planning to buy alt coins and hold it for long period of time and I am afraid of being hacked.
Charles Oldham (2 months ago)
Thanks Mate.. Just set my first stop limit. Thank you for the tip
EXPLORATION ECHO (2 months ago)
Much love from Puerto Rico, America's New Crypto Hub. I may have found another channel to grab a bit of wisdom and experience from in order to trade a little better.
Lud Wig (2 months ago)
Binance btw😊✌🏼
Lud Wig (2 months ago)
Thank you soooo much!!!😎👍🏼👍🏼👍🏼
N24Z Beats (2 months ago)
I don’t think he blinks once
Stavros Constantine (19 days ago)
he blinked at 2:31
karl scaife (2 months ago)
Top job bras cheers!
Looks like we need 2x money to set SL & TP at the same time, right?
The Crypto Nono (2 months ago)
there is no way to use stopp loss and a high sale order at the same time?
Thomas Noyes (2 months ago)
Excuse the dumb question but this my first attempt at a day trade. Is the Stop Limit Sell settings set up when you click Buy? Or do you need to set the Sell side after the coins are purchased?
Alternate Increase (2 months ago)
Good info, thanks
Don Rene (2 months ago)
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
Crypto Mogul (3 months ago)
very easy to understand and I love the live example because it shows what happens after you buy or sell
DST2223 (3 months ago)
Do you buy and sell all at the same time? Like you buy it then right away put in your stop loss to sell ?
Stephen dela Cruz (26 days ago)
Yeah! Once you got that limit order, then you setup that stop-limit sell order as a kind of stop-loss. You can also use this stop-limit sell order as a take-profit! It's like putting a stop loss instead of below... you put it above the present market price and take-profit instead. Pretty neat. 👍😏
DST2223 (3 months ago)
So when selling the LIMIT is what you actually want to sell it for. You do not want to sell it for anything less than the limit but the Stop is just the trigger correct ?
AllEyezOnMe AA (3 months ago)
yes thats what i understand also. Goodluck.
Hallam Hope (3 months ago)
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.
Hello Google (3 months ago)
GD Vid!
ercrypto 74 (3 months ago)
Thanks for the video.
Chew Chew Train (3 months ago)
GREAT explanation and storage advice. THANKS from Silicon Valley.
Boss Sofa (3 months ago)
Great video and thank you so much for the lesson now i can start trading.
Hallam Hope (3 months ago)
Excellent video and information. Very nice advice. I hit the like and subscribe. Really good video. Hallam in always sunny Barbados.
shiftcon (3 months ago)
Can you use lite coin to purchase tron on binance?
Benselama Mohsen (4 months ago)
your explain is easy to understand, thank you
mohamed kamal (4 months ago)
Amazing, organized way of explanation. Thanks
Jared Jalal (4 months ago)
Thanks a lot for sharing this. I have a question, what if the value for both limit and stop is same? What happens then?
Zeng kamei (3 months ago)
i have the same question....sell limit should be higher than buy.
Laine Golay (4 months ago)
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?
Billy Santos (4 months ago)
thank you , very nice of you explaining this...
Nice video well explained thank you
peter heighes (4 months ago)
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
peter heighes (1 day ago)
yeah surely its a great niche in the market to do that. ?
Muhammad Hafeez (1 day ago)
I HV same issue,,there should be both options,,stop loss + take profit ..like this superd settings available in IQ options
peter heighes (2 months ago)
Wesly G, I’ve established that you are limited to the stock limit options on the binance exchange. What you can do is use the percent tabs to say sell 50% X amount and 50% buy with the other 50% but as I say that’s the best you can do on binance without using a crypto bot which would be programmable in that way. There’s plenty out there but very expensive. Other options would be to use a simple script programming language and create your own simple program. Or just manually sell ofcourse
Crypto Black (2 months ago)
This is my question as well
Wesly G (3 months ago)
Is there a way to do this on Binance?
Sina (4 months ago)
was a good video brother but looks a little creepy staring straight at the camera haha
david woods (4 months ago)
thank you for this video, the detailed explanation was exactly what we were looking for.
Satoshi Scope (4 months ago)
Not a problem at all. I'm glad I was able to help.

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