Combine stoploss and take profit on binance.

[Obiwankenodium]

Does anyone know how i can manage to have a stoploss and take profit on 1 position at the same time on binance.

If i am in a position i would like to set a stoploss to get out of the position if the reason of my trade is not valid any more and at the same time i want to make sure to get out of the osition if my target price is reached.

I can only manage to do 1 of these options, so i am at risk to become a bag holder if i only have a sell order for taking profit or i have the risk of the price touching my target price without having a sell order open for taking profit because i only have an open stoploss order to cover losses.

Please help me out here, is what i want even possible on binance? Can i do this using a 3rd party trading app (if so, which one). Or do i just need to wait on CZ for fixing this?

[apityeh71]

I was looking for solution for this my problem by make research feature of others exchanges, and finally I found crypto exchange that has trigger order is possible to use stop loss and sell limit at the same times, that exchange is gate.io.

[karungbitcoin]

Yes i have the same recommedation to Binance exchange to add that feature so i can setting take profit and stop loss by the same times , will be the same thing like Metatrader platform. I dont know about third trading app, and i hope there are will be exchange that use software like Metatrader so trading activity will be more easy and more profitable.

[nicster551]

Does anyone know how i can manage to have a stoploss and take profit on 1 position at the same time on binance.

If i am in a position i would like to set a stoploss to get out of the position if the reason of my trade is not valid any more and at the same time i want to make sure to get out of the osition if my target price is reached.

I can only manage to do 1 of these options, so i am at risk to become a bag holder if i only have a sell order for taking profit or i have the risk of the price touching my target price without having a sell order open for taking profit because i only have an open stoploss order to cover losses.

Please help me out here, is what i want even possible on binance? Can i do this using a 3rd party trading app (if so, which one). Or do i just need to wait on CZ for fixing this?

Just find a good coin and try to trade and leave it for a while and putting a stop-loss, If your stop loss hits then let it go and find another trade and do the same until you win a trade.

[Obiwankenodium]

Does anyone know how i can manage to have a stoploss and take profit on 1 position at the same time on binance.

If i am in a position i would like to set a stoploss to get out of the position if the reason of my trade is not valid any more and at the same time i want to make sure to get out of the osition if my target price is reached.

I can only manage to do 1 of these options, so i am at risk to become a bag holder if i only have a sell order for taking profit or i have the risk of the price touching my target price without having a sell order open for taking profit because i only have an open stoploss order to cover losses.

Please help me out here, is what i want even possible on binance? Can i do this using a 3rd party trading app (if so, which one). Or do i just need to wait on CZ for fixing this?

Just find a good coin and try to trade and leave it for a while and putting a stop-loss, If your stop loss hits then let it go and find another trade and do the same until you win a trade.

Thats noy how i prefer to trade, thats why i am looking for a solution so i can set both orders.

[Karlinz]

Unfortunately, Binance does not have such tool yet, it would have been interesting, you cannot execute both orders at the same time on the same trade, you have to exit one to place the other. I will it would be possible if Binance could add such, such that one can place a stop loss order as well as take profit on the same trade at the same time

[vit05]

Send another email to them requesting it. Binance is still missing several tools of trade. It is far from being the best in options for trade. They are still focused on creating the best ecosystem for anyone before having more tools that are common in other exchanges.

[Obiwankenodium]

Send another email to them requesting it. Binance is still missing several tools of trade. It is far from being the best in options for trade. They are still focused on creating the best ecosystem for anyone before having more tools that are common in other exchanges.

i filled in their survey today and said i miss this option.

[Lighthouze]

That is one of the most important tools that Binance is lacking at the moment and should they have it, they'll be miles ahead of their competitors. I do little of Forex trading using Metatrader 4 and I always wish Binance had the same functions

[Obiwankenodium]

I read on cz_binance's twitter that they are working on it. Hope they will finish the working on it soon.

[richcorner100]

Although we can not use stop loss and take profit at the same times on Binance, this is better than others exchange that did not have feature of stop loss. I think all crypto exchange should be has feature of stop loss because crypto has high fluctuacion. I hope Binance wil add new feature so we can combine stop loss and take profit that make less risk and more profitable in trading.

[Matthewmorris4]

it's better to avoid the 3rd party app because there are currently many gaps there that are often used for security breaches. Try to ask this question at binance support or answer one from CZ's retweet, they might be able to answer this one 

[CryptoWorldTrader]

You shoud use a 3rd party app, for example https://walloftraders.com is free. We have developed it. You can place Take Profit and Stop Loss at the same time (One Cancel the Other) and trailing to follow the price. APIs are encrypted.

[Awesomus Maximus]

It is beyond me how a reputable exchange like Binance doesn't have this feature yet. It is not a new exchange, it is the biggest and most important, yet there is no stop loss + take profit at the same time. You can use 3rd party tools or bots to achieve this but I don't recommend it. It is not the same as having this feature built in on the platform itself. With third parties you have to use APIs and trust their service. Most bots require to be connected to binance 24/7. 

[Crypto_kk]

The best solution right now is to use Signal, a trading tool for Binance.

https://media.giphy.com/media/lPGazz88jRWDsSl6Yn/giphy.gif (click the link to see a gif of it)

Our trading tool is fast, secure, and easy to use.

Some key features include:

• Setting a stop loss and up to 5 take profits at the same time
• Trailing stop loss
• Laddered buys
• SMS alerts

You can sign up at https://signalgroups.com

[Ailmand]

Binance still lacks some important features but we could still message them via email for our suggestions. If you're not comfortable transacting in binance because it doesn't have a stop loss feature then you could try to use another exchange but I hope that binance could add helpful tools soon.

[LUCKMCFLY]

Pitifully Binance does not have the characteristic of Stop Loss and Take Profit at the same time, the only exchange that owns it is Bitfinex, previously Kraken had this option, but they removed it, I think that feature if implemented in Binance will attract many more operators of the market.

If you operate in Binance I recommend you to place your stop loss, and program the take profit from another application so that when you reach your position you direct and close them, while in these Exchanges they place the necessary function one day.

[noormcs5]

Does anyone know how i can manage to have a stoploss and take profit on 1 position at the same time on binance.

If i am in a position i would like to set a stoploss to get out of the position if the reason of my trade is not valid any more and at the same time i want to make sure to get out of the osition if my target price is reached.

I can only manage to do 1 of these options, so i am at risk to become a bag holder if i only have a sell order for taking profit or i have the risk of the price touching my target price without having a sell order open for taking profit because i only have an open stoploss order to cover losses.

Please help me out here, is what i want even possible on binance? Can i do this using a 3rd party trading app (if so, which one). Or do i just need to wait on CZ for fixing this?

Bianance does not offer this feature of Getting the stoploss and take profit option enabled at the same time. You can use only one at a time.

There are few third party apps which allow you this feature but they also take fee for availing their services. Maybe in future binance may introduce both features together on their own site.

[Zadicar]

Does anyone know how i can manage to have a stoploss and take profit on 1 position at the same time on binance.

If i am in a position i would like to set a stoploss to get out of the position if the reason of my trade is not valid any more and at the same time i want to make sure to get out of the osition if my target price is reached.

I can only manage to do 1 of these options, so i am at risk to become a bag holder if i only have a sell order for taking profit or i have the risk of the price touching my target price without having a sell order open for taking profit because i only have an open stoploss order to cover losses.

Please help me out here, is what i want even possible on binance? Can i do this using a 3rd party trading app (if so, which one). Or do i just need to wait on CZ for fixing this?

Bianance does not offer this feature of Getting the stoploss and take profit option enabled at the same time. You can use only one at a time.

There are few third party apps which allow you this feature but they also take fee for availing their services. Maybe in future binance may introduce both features together on their own site.

If they would able to see that there are lots of demands regarding on this feature then they might consider on adding it up but for now they havent shown any updates regarding this feature.
I cant deny to myself that these SL and TP things are really good to be add up on good exchange like Binance.These will attract even more users.

[traderethereum]

The only chance for you to solve that thing is you make 2 orders at the same time, but of course, you should have the coin before you can execute the orders at the right price.
But I don't think that will be possible to get in the exchanges because I don't see that feature available on the other exchanges.
How if you buy the coin at one price, then after you get the coin, you can place the order sell in the price you want.