MultiversX Tracker is Live!

Stop Loss - Binance Noob Question

Binance

Cryptocoins Exchanges / Binance 244 Views

Hi All, apologies if this is a daft question - I swear I've searched everywhere to understand this, but I'm struggling to get clarity.

If I create a Binance Futures limit order, I can attach a SL and TP to that, so that when the order is filled, I have appropriate risk management in place. These orders are essentially pending until the limit order is filled, at which point the TP and SL orders are placed.

When I create a Spot limit order, there doesn't appear to be the facility to add any sort of stop order. In order to create a stop order, the app seems to expect me to already have the spot to sell - which I don't, I'm waiting on a pending order to be filled.

This means I can't leave a resting order with appropriate risk management in place; I can only apply the SL after the order fills, which might well be when I'm not at the screen.

Is there a way to add a SL to a pending order in spot?

Thanks in advance for any advice.

submitted by /u/SundayRed15
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments