Stop Limit Order On Binance Exchange

[JacobM64]

I don't understand how it works, maybe somebody could explain to me. If I want to sell Zillica coin on Binance, by putting stop limit order, if there is not trade option pairs between Zillica, and TUSDT and I have to sell it to BTC. My question is, if BTC is going down, and Zillica is going to go down and going to be sold by stop limit order to BTC is there a reason to sell it to BTC? Is it going to save my value or I am going to lose my value anyway? Thank you.

[wayancrypto]

Stop limit order is order that still pending and does not enter to ordebook yet, and you can use this feature for stop loss, trailling stop and buy stop. But is better use this feature for stop loss and trailling stop only as risk management. So this feature will be work for stop loss, you have to enter price in Stop higher than Limit, and both price should lower than purchase price.

[el kaka22]

I don't understand how it works, maybe somebody could explain to me. If I want to sell Zillica coin on Binance, by putting stop limit order, if there is not trade option pairs between Zillica, and TUSDT and I have to sell it to BTC. My question is, if BTC is going down, and Zillica is going to go down and going to be sold by stop limit order to BTC is there a reason to sell it to BTC? Is it going to save my value or I am going to lose my value anyway? Thank you.

If you think while you are selling the coin you have the bitcoin will also go than you do not have that much option to sell it to something that has a usdt pair. I mean if zillica has no usdt pair and only btc pair and if you think while zillica goes down btc will go down than there is nothing that you can do to stop losing money at all, you WILL lose money in that case.

If you fear about something like that, best you can do is find a coin that has a USDT pair and put the stop loss order on usdt base that way if the price of it goes too low you will get USDT instead of bitcoin and even if bitcoin drops as well you will not be harmed by it since your money will be in fiat. There is no middle ground for this, either you are going to change it to bitcoin and hope it doesn't drop too much or you are going to start using usdt pairs.

[bisdak40]

I am also confused during the first time in using Stop Limit Order but with continuing study and focus, i already learned on how to use it. There are also some videos on youtube wherein it could help you learn using it. BTW, stop loss is such a helpful feature where it help us minimize our lose if we are going south with our trade.

[wayaneka]

We should be trade on Pair of BTC/Altcoin by short trade because the both crypto in high volatility, in situation of market now when the price of Bitcoin going down the price of altcoin will follow it. Actually better idea to trade only in pair crypto with USDT so will be easy to calculate profit/loss in fiat. But if that coin does not any pair with USDT, there will be not other choice and we have to trade it with BTC. To make easy to trade make open potition not more than 3 different coin. Currently only a few exchange that have stop limit feature, and this feature we can use for stop loss, so use only exchange that have it because is very risky trading without stop loss.

[apityeh71]

Now Binance add more pair of stable coin so will be easy to trade and to avoid loss from downtrend of BTC value. Stop limit is feature that we can use to put stop loss and also we can use it to make order buy stop.  I heard Binance will add OCO order that we can use it to put stop loss and sell limit at the sametimes, and this is will be make more easy and profitable in trading.

[karungbitcoin]

Binance already add pair of ZIL/USDT so you can trade in this pair without worry about fall of Bitcoin price's. Stop limit order is the same like trigger order which our potition not enter yet to order book but its wil be enter to order book once the last price the same with stop price, so stop price to trigger limit price to enter to orderbook. Many trader use stop limit order for stop loss.

[moynul2050]

please be calm, don't be too afraid if the price of bitcoin falls and will affect Zillica's price because the pair of Zillica is not only based on the floating Bitcoin pair, it can be on other more stable altcoins

[BitcoinTurk]

I didn't know how this feature worked and how it worked, but how did I find out? Of course, instead of running into the study to do research and read articles on this topic, I chose to watch the videos. I want to offer you what I do, and you know what that thing is about. If you do some research and research before you create such topics, you will get the answer instead of waiting. On the other hand, if you need to answer your question, you can access this feature from the Stop Limit section.

[Renaldi blackspadeteam]

of course you will lose its value, every altcoin traded uses Bitcoin as the main money then it will follow the price of bitcoin. so if the bitcoin price drops then the altcoin value connected with bitcoin will decrease in value.

[The Cryptovator]

I am bit confused about your question. Stop loss use for prevent huge loss. It's not connected with your value of fund. If I am not wrong then your are worrying about USDT price. If you hold btc then its depend market price what is the value on USDT. If you use stop loss on btc pair then your capital will calculate according to btc price. And yes you will lose value of USDT if btc dump continue. But who know may be pump again and your capital value will increase.

If btc down it doesn't mean all Altcoins will dump too. But yes , most of altcoin follow trend sometimes.

[gantez]

I just think that op's question is why using stop loss on trade and I believe it is a part of money management to limit your losses in case market turns negative to you. By this, if the market changes, it will log you out and keep your balance.

[Greed Dev]

I don't understand how it works, maybe somebody could explain to me. If I want to sell Zillica coin on Binance, by putting stop limit order, if there is not trade option pairs between Zillica, and TUSDT and I have to sell it to BTC. My question is, if BTC is going down, and Zillica is going to go down and going to be sold by stop limit order to BTC is there a reason to sell it to BTC? Is it going to save my value or I am going to lose my value anyway? Thank you.

You should check back and Binance has updated ZIL / USDT. It seems that TUSD is not allowed to pair with ZIL by Binance. USDT is also a similar choice and I think it doesn't affect your portfolio too much.

[hipSter]

There is a reason you should do it (sell zil for btc) because at such times every altcoins go much deeper then btc.

[malikusama]

I don't understand how it works, maybe somebody could explain to me. If I want to sell Zillica coin on Binance, by putting stop limit order, if there is not trade option pairs between Zillica, and TUSDT and I have to sell it to BTC. My question is, if BTC is going down, and Zillica is going to go down and going to be sold by stop limit order to BTC is there a reason to sell it to BTC? Is it going to save my value or I am going to lose my value anyway? Thank you.

It will definitely going to save your value, altcoins drop more than BTC in downtrend. It has been observed that decreasing percentage of alts is much higher as compare to BTC, so it will be better to stop loss in BTC if there is no required pair is available of your altcoin and USDT.

[manggis97]

First i know about stop limit feature when trading on Poloniex,  the same like others trader i did not understand how its work,  but by search on google i find the easy explanation about it in YouTube.  So we should be diligent  to make research about it and we will know that feature is very helpful in trading because we can use it for stop loss and trailing stop.

[ShowOff]

First i know about stop limit feature when trading on Poloniex,  the same like others trader i did not understand how its work,  but by search on google i find the easy explanation about it in YouTube.  So we should be diligent  to make research about it and we will know that feature is very helpful in trading because we can use it for stop loss and trailing stop.

Actually at past not much exchanger that have stop loss feature. But maybe people know it from Poloniex, just like me who know about trading with Poloniex. Actually i found what mean of that a year later, because never use that feature.