Binance must have an option to instant sell with 1% of stop loss

[DashingAgent]

Binance must have an option to instant sell with 1% of stop loss

Some time trading becomes too quick and we cannot fill the complicated form to sell our crypto with a stop-loss, until we fill it, the trade gone. Binance should offer an option which follow the AI so trader may sell their crypto with an instant stop-loss to prevent themselves from major losses.

[mk4]

If you'd like that or whatever specific feature on Binance, probably directly send a request to them as chances are, they probably won't be able to read this topic.

https://binance.zendesk.com/hc/en-us/requests/new

[hugeblack]

If you are so scared that a 1% change will cause you to panic, I recommend that you stay away from investing in cryptocurrencies.

The market is extremely volatile and 1% does not mean a lot of changes + do not forget that Binance takes a fee with every order execution and thus you will lose some money if a lot of orders are executed directly.

You can use some trading bots if you want to get more orders and a lot of automation for trading strategies.


Most of the traders rely on resistance levels, which are in levels above 5%.

[NeuroticFish]

If you are so scared that a 1% change will cause you to panic, I recommend that you stay away from investing in cryptocurrencies.

Exactly. Such a feature is not useful now and will most probably not be in the next 5 years.
However, you can ask their help desk or also ask on Binance's or CZ's twitter.

Maybe they'll do it, maybe they'll explain why not, or maybe they'll ignore you. You don't know until you ask... somewhere they actually read it.

[slaman29]

I guess that's the main reason people use all these automated bot trading software? There you can set all kinds of complicated setting like trailing stop and margin settings, just connecting to Binance or Bittrex or whatever exchange's APIs. Most bots work with Binance now, that's how you get around their limitations:)

[tbterryboy]

Not sure if Binance is ever going to implement such features but actually for these reasons only Bots are made so you might want to find a bot that works on the specific feature and that be one solution or like @mk4 said you can demand that feature on the link he gave.

By the way 1% is really low and such small variance should not bother you specially because you are in crypto market where things change rapidly and one must not care for 1-2% change too much, but yeah everyone have their own way of trading so maybe it is worth for you.

If you are new to trading, just in case then let me tell you there will be massive price swings all the time and you have to get used to it.

[palle11]

If you are so scared that a 1% change will cause you to panic, I recommend that you stay away from investing in cryptocurrencies.

Or to have a good money management ability. This is a way you can have a successful investment, not to invest on what you are not sure of or can't afford that it will lose or go downtown lose..Learn trading with lots of caution, it will help when you find difficult times in the market you can go out of it.

[boyptc]

That's your responsibility to avoid that amount of loss. Yeah, it's an easy and great feature to have.

But Binance doesn't hold responsible for the losses of their traders. We don't have to pass our responsibility on them as traders.

[joniboini]

By the way 1% is really low and such small variance should not bother you specially because you are in crypto market where things change rapidly and one must not care for 1-2% change too much, but yeah everyone have their own way of trading so maybe it is worth for you.

I can only think about leverage trading if 1% is such a big deal for OP. If he uses 5x or 10x leverage then 1% movement could be a problem. That being said, I believe you can just reduce the risk by lowering your leverage and setting up your stop-loss manually. If it is indeed about spot market, then 1% should not be a huge problem that force exchange to create a dedicated stop-loss button for it.

[shield132]

If he had moments where he was just one click away from 1% profit, then I think that his request is legit and 1% isn't that low right now, it's $190 (one month supply for an indian guy, if not more, just for example).

But at the same time I hugely doubt they'll do it. First of all, why do they have to do this? Or why should it be a 1% instead of 0.5? Or 2% or another? And they'll have to make some changes in their UI and I don't think that it's the request that has high demand + number won't be acceptable for everyone + they have an option where you can set it manually.
Well, I think that it will be left the way it is right now but you can try your luck and submit your response.

[XZERO1]

I guess that's the main reason people use all these automated bot trading software? There you can set all kinds of complicated setting like trailing stop and margin settings, just connecting to Binance or Bittrex or whatever exchange's APIs. Most bots work with Binance now, that's how you get around their limitations:)

Yeah, it's better to use a trading bot in that case, most people that are day traders and they profit mostly from scalping use them, if you can not make the trading bot yourself you can hire someone to do that for you or buy from some websites that offer these trading bots, but before buying do your own research and get as much information about their efficiency and possible bugs and other problems beforehand.

Every one of these trading bots are made for a specific task, some of them practically do the trading for you which means they decide what to buy and when to buy, sell or take profit and the other ones are just do some simple tasks like automatically setting a stop-loss or/and take profit after you got into a trade, so choose your trading bot based on what you are buying it for.

[Silberman]

Binance must have an option to instant sell with 1% of stop loss

Some time trading becomes too quick and we cannot fill the complicated form to sell our crypto with a stop-loss, until we fill it, the trade gone. Binance should offer an option which follow the AI so trader may sell their crypto with an instant stop-loss to prevent themselves from major losses.

Your needs seems to be very specific so it is unlikely such feature is going to be implemented anytime soon, if you want to have that option then you need to figure out how to do that by yourself, and the most obvious solution is to use a bot, I know that some people are going to feel like it is completely unfair that if they want to be competitive in the markets they need the use of tools to help their trading activities but if timing is so crucial to your strategy you really do not have any other option.

[eXtremal]

Binance must have an option to instant sell with 1% of stop loss

Some time trading becomes too quick and we cannot fill the complicated form to sell our crypto with a stop-loss, until we fill it, the trade gone. Binance should offer an option which follow the AI so trader may sell their crypto with an instant stop-loss to prevent themselves from major losses.

from what I see the exchange on binance is very fast, I think there is no need to add any features, why? Maybe your device is too slow to trade in the browser why don't you try it in the application, this is an alternative way to make trading easier, and I see you are too panicked and impatient if your order has not been filled

[davinchi]

That doesn't really sounds like something we should be looking for. They do have stop loss by the way, and if you pick it at 1% that means you can use it just the way you want, basically they do have what you want. However, 1% looks like it is very tiny and if you pick it at 1% you may constantly get your coins sold over and over again. This is why I doubt that we should be looking for 1% stop loss but more like 10% or even 20% while we are at it.

When you do that, you are not preventing daily movements but you are preventing a big crash. You never know, maybe when you are asleep or outside or just any reason that takes you far away from a PC, bitcoin can crash just at that moment. Which means you should have a stop loss at 20% to get away from a huge crash that could happen.

[poodle63]

then you gonna sell like literally every hour. Remember that the price of crypto is very fluctuative and if you can't handle that it's better to stay away and probably just invest to index fund.
Binance could definitely make that feature but they might think that the one who uses this feature are the people who overly paranoid and can't handle market movement even at the slightest (we talking about  -1% which even normal occurence in fiat money value fluctuation).

[Silberman]

That doesn't really sounds like something we should be looking for. They do have stop loss by the way, and if you pick it at 1% that means you can use it just the way you want, basically they do have what you want. However, 1% looks like it is very tiny and if you pick it at 1% you may constantly get your coins sold over and over again. This is why I doubt that we should be looking for 1% stop loss but more like 10% or even 20% while we are at it.

When you do that, you are not preventing daily movements but you are preventing a big crash. You never know, maybe when you are asleep or outside or just any reason that takes you far away from a PC, bitcoin can crash just at that moment. Which means you should have a stop loss at 20% to get away from a huge crash that could happen.

Also the risk of having such a small stop loss is that the price may go down slightly activating your stop loss and then the price skyrockets while you are sleeping and you are out of the market, it is because of this I recommended the OP to use a bot if his needs when it comes to timing are so critical, personally I have never seen a successful strategy with such a small stop loss because of the difficulty to implement it, especially if you are trading manually, but if he has a system like that then he has no option but to use bots as it is the only way to be as fast and as precise as he needs to be profitable.