Since Binance does not support a Trailing Stop Loss (TLS) natively, I use Signal. It is a simple tool and the process for setting a TSL is pretty straight forward. You just link your exchange, toggle “Trailing” on when creating your trade, and then specify how much you want it to trail by .
Read moreWhat is reduce only on Binance?
The system will automatically implement the “Reduce only” risk control measures and notify the user via email. Once this measure is in place the user will only be able to reduce the position of the contract , and will not be able to increase their position or open new positions.
Read moreWhat is stop limit order in Binance?
A Stop Limit order is a conditional order over a set timeframe, executed at a specified price after a given stop price has been reached . Once the stop price is reached, it will buy or sell at the limit price or at a better price than the limit price you set.
Read moreHow do you set TP and SL on Binance futures?
When placing a Limit Order, you will be able to set the [Take Profit] and [Stop Loss] orders simultaneously. Click [Limit] and enter the order price and size. Then, check the box next to [TP/SL] to set the [Take Profit] and [Stop Loss] prices based on the [Last Price] or [Mark Price].
Read moreWhat is reduce only Binance futures?
The system will automatically implement the “Reduce only” risk control measures and notify the user via email. Once this measure is in place the user will only be able to reduce the position of the contract, and will not be able to increase their position or open new positions .
Read moreIs there Stop Loss in Binance?
The Stop Order on Binance Futures is a combination of stop-loss and take-profit orders . The system will decide if an order is a stop-loss order or a take-profit order based on the price level of trigger price against the last price or mark price when the order is placed.
Read moreWhat is TP SL in Binance?
The TP/SL of the first filled order will be used to take profit or stop loss for all your positions . Other TP/SL will be automatically canceled when the order is created. For example, you placed 3 strategy orders with different TP/SL prices.
Read more