Binance - no stop-loss order... only stop-limit

[loll_l]

There doesn't seem to be a stop-loss order on Binance and I can't understand why!....

Example: Say I buy $100 of BTC and I want to sell immediately if it drops to $95 in value... why do I have to put a limit order in as well?

If I just want to do a normal stop order at $95 how do I do this?

[mk4]

With your example, you can just set the limit price to something like $90. Because even if you set it lower, the coin/token will be sold to the highest buy offer available anyway, which should be around $92-94(depending on how thick the orderbook of the trading pair is).

[loll_l]

With your example, you can just set the limit price to something like $90. Because even if you set it lower, the coin/token will be sold to the highest buy offer available anyway, which should be around $92-94(depending on how thick the orderbook of the trading pair is).

Thanks for the reply...

Doesn't this risk the token not being sold at all though? If you look at the 4 min video here: https://www.youtube.com/watch?v=GodKseSPFtE it seems to be saying that, if both the stop and limit prices are bypassed whilst the token is decreasing in value, the price would need to go back up to the limit value in order to be sold - which risks the token not being sold at all - unless I'm mistaken?

[mk4]

Thanks for the reply...

Doesn't this risk the token not being sold at all though? If you look at the 4 min video here: https://www.youtube.com/watch?v=GodKseSPFtE it seems to be saying that, if both the stop and limit prices are bypassed whilst the token is decreasing in value, the price would need to go back up to the limit value in order to be sold - which risks the token not being sold at all - unless I'm mistaken?

Yes, hence why I said it depends on how thick the orderbook is. But regardless, even if it's a stop-loss and not a stop-limit, you're very likely to be selling at a lower price if it was a flash crash(one huge red candle) in the first place. So if you really really want to get it sold no matter what, set it to like $50 or something; obviously it comes with the risk of your coins being sold far lower.

[smartaction]

Example: Say I buy $100 of BTC and I want to sell immediately if it drops to $95 in value... why do I have to put a limit order in as well?
If I just want to do a normal stop order at $95 how do I do this?

Stop (USDT) means, what is your stop-loss target price. how price you want to sell your token immediately if your token hit that target price.

And Limit (USDT) - how much price you want to placed order to sell your token/coin instantly.

Example - You bought  100$ of BTC Approximate price (37,500 USDT per btc) Now you're analyzed that if Bitcoin drops below 35,000 it could be a bigger dump. here 35k is your stop-loss target. and here you have to put 35k in (stop usdt box)  and you have to set (Limit usdt) 34,999$ or more less As much as you want. now if bitcoin hit 35,000$ then Your Bitcoin will automatically placed sell order at 34,999$ and your btc will instantly sold at that price. that's it.

[loll_l]

Thanks for the reply...

Doesn't this risk the token not being sold at all though? If you look at the 4 min video here: https://www.youtube.com/watch?v=GodKseSPFtE it seems to be saying that, if both the stop and limit prices are bypassed whilst the token is decreasing in value, the price would need to go back up to the limit value in order to be sold - which risks the token not being sold at all - unless I'm mistaken?

Yes, hence why I said it depends on how thick the orderbook is. But regardless, even if it's a stop-loss and not a stop-limit, you're very likely to be selling at a lower price if it was a flash crash(one huge red candle) in the first place. So if you really really want to get it sold no matter what, set it to like $50 or something; obviously it comes with the risk of your coins being sold far lower.

Ok thanks...

Just one more thing that's confusing me....

I bought $100 (USDT) of SPELL and want to sell if it drops to $85 in value. Please see screenshot here: https://postimg.cc/DmfxRx3K

Why on earth does it show the total as 1044560 USDT? What does this total represent?

[smartaction]

Just one more thing that's confusing me....

I bought $100 (USDT) of SPELL and want to sell if it drops to $85 in value. Please see screenshot here: https://postimg.cc/DmfxRx3K

Why on earth does it show the total as 1044560 USDT? What does this total represent?

Here you have to mention SPELL price. not your usdt amount.
for example - you bought 13057 SPELL token for $100 it means each token $0.007658. here if spell price dropped $0.006126 each SPELL then you will loss $20 and your your correct usdt will $80. so, you have to set that price on stop-limit box. See the screenshot below as an example of such

[loll_l]

Thanks for the reply...

Doesn't this risk the token not being sold at all though? If you look at the 4 min video here: https://www.youtube.com/watch?v=GodKseSPFtE it seems to be saying that, if both the stop and limit prices are bypassed whilst the token is decreasing in value, the price would need to go back up to the limit value in order to be sold - which risks the token not being sold at all - unless I'm mistaken?

Yes, hence why I said it depends on how thick the orderbook is. But regardless, even if it's a stop-loss and not a stop-limit, you're very likely to be selling at a lower price if it was a flash crash(one huge red candle) in the first place. So if you really really want to get it sold no matter what, set it to like $50 or something; obviously it comes with the risk of your coins being sold far lower.

Ok thanks...

Just one more thing that's confusing me....

I bought $100 (USDT) of SPELL and want to sell if it drops to $85 in value. Please see screenshot here: https://postimg.cc/DmfxRx3K

Why on earth does it show the total as 1044560 USDT? What does this total represent?

Here you have to mention btc price. not your usdt amount. you have to calculation in yourself. Like if you bought btc for  $100 at 37,500 usd per btc. then you will get 0.00266 btc for your 100$ now if bitcoin drop to 32,000$ then your 0.00266 btc value will $85. now here you have to Stop (USDT) 32,000 and Limit (USDT) 31,998
https://i.ibb.co/PjwHXDS/IMG-20220201-103605.jpg

Ok thanks for this - I thought that may be the case but if you look at this screenshot: https://postimg.cc/TpdFTR8h it is asking for the amounts in USDT ... Is that a bug/error on the website?

[smartaction]

Ok thanks for this - I thought that may be the case but if you look at this screenshot: https://postimg.cc/TpdFTR8h it is asking for the amounts in USDT ... Is that a bug/error on the website?

It is asking Token price worth of USDT not your invested amount of usdt. it is not bug/error on that exchanger. this is a misunderstanding of yours.

[loll_l]

Ok thanks for this - I thought that may be the case but if you look at this screenshot: https://postimg.cc/TpdFTR8h it is asking for the amounts in USDT ... Is that a bug/error on the website?

It is asking Token price worth of USDT not your invested amount of usdt. it is not bug/error on that exchanger. this is a misunderstanding of yours.

Got ya - ok thanks for your help

[noorman0]

If I just want to do a normal stop order at $95 how do I do this?

On Binance there are stop limit, stop market and OCO. Then you just use the stop market so you don't need to enter a limit price. And you don't have to worry that your order will not be filled, because of that you will get prices (maybe) vary until all of your order volumes are filled.
Keep in mind, a stop market means you don't limit your losses to a price you can afford. If the buy order gap or sell volume is too high, you can get a price at the bottom even though the actual decline didn't reach it. I personally prefer to use a stop limit rather than a stop market.

[loll_l]

If I just want to do a normal stop order at $95 how do I do this?

On Binance there are stop limit, stop market and OCO. Then you just use the stop market so you don't need to enter a limit price. And you don't have to worry that your order will not be filled, because of that you will get prices (maybe) vary until all of your order volumes are filled.
Keep in mind, a stop market means you don't limit your losses to a price you can afford. If the buy order gap or sell volume is too high, you can get a price at the bottom even though the actual decline didn't reach it. I personally prefer to use a stop limit rather than a stop market.

I can't see a 'stop market' option... where can I find it? That's exactly what I'm looking!

Also, just 2 final questions on stop-limits to make sure I fully understand:

1 - If I put both the 'stop' and 'limit' values as exactly the same and the token has a big drop all of a sudden taking the price below both the stop and limit values that I've entered, am I right in saying the sale order won't trigger unless the price goes back up to the amount I've entered as the 'limit'?

2 - If my understanding of the above is correct, is there any downside to setting the limit at $1? (i.e. to ensure that the token definitely sells if it drops below my stop price)

[noorman0]

I can't see a 'stop market' option... where can I find it? That's exactly what I'm looking!

Check this out: Desktop version, mobile version

Also, just 2 final questions on stop-limits to make sure I fully understand:

1 - If I put both the 'stop' and 'limit' values as exactly the same and the token has a big drop all of a sudden taking the price below both the stop and limit values that I've entered, am I right in saying the sale order won't trigger unless the price goes back up to the amount I've entered as the 'limit'?

2 - If my understanding of the above is correct, is there any downside to setting the limit at $1? (i.e. to ensure that the token definitely sells if it drops below my stop price)

1. IIRC, (in sell orders) if the stop value is more than or equal to the price value, binance will warn that it should not. Value price should be lower. Even if it is allowed to be the same, it is possible that your order will not be filled because it was filled by someone else's order that reached that price first. Then your order is placed in the queue as a regular limit sell order.

2. You can't directly, you have to calculate manually based on the token price. Make sure you first understand what the token price and "Total" your order is.
If I refer to @smartaction's calculation above, your token price is $0.007658 on buy. If you want to lose $1 of the total buy (to $99), then you have to set a selling price of $0.007582 and the triggering price (limit) should be the same or in between.

[loll_l]

Check this out: Desktop version, mobile version

Ah yes it looks like the 'stop market' option is available on the 'Futures' screen but it won't give me access to all coin/token trades in 'Futures' from what I can tell. If I want put a 'stop market' sell order for the SPELL/USDT pair for example - is this not possible?

2 - If my understanding of the above is correct, is there any downside to setting the limit at $1? (i.e. to ensure that the token definitely sells if it drops below my stop price)

Apologies I explained this incorrectly - I shouldn't have used $1 as the LIMIT example as that was way too high!... Basically what I'm asking is, using SPELL/USDT as the example, if I want to put a stop limit order to sell if/when SPELL goes down to $0.0062, what happens if I put the STOP amount as $0.0062 and the LIMIT amount as $0.0001? My understanding is that putting the LIMIT so low will essentially make this a 'stop market' order as a) it will sell as close to $0.0062 as possible but maybe just under, and b) putting the LIMIT so low will essentially mean that the sell order is bound to go through.

So, with the above example, even if I've put the LIMIT as $0.0001, it should still sell somewhere near the STOP price of $0.0062 so I would expect it to sell at $0.0062 or $0.0061... and there should also be no danger of it not selling because it will keep trying to sell right down to $0.0001.... Have I understood this correctly?

[noorman0]

Ah yes it looks like the 'stop market' option is available on the 'Futures' screen but it won't give me access to all coin/token trades in 'Futures' from what I can tell. If I want put a 'stop market' sell order for the SPELL/USDT pair for example - is this not possible?

Just checked my binance account, looks like you are right. The “stop market” feature is not available for spot trading. Sorry.

Apologies I explained this incorrectly - I shouldn't have used $1 as the LIMIT example as that was way too high!... Basically what I'm asking is, using SPELL/USDT as the example, if I want to put a stop limit order to sell if/when SPELL goes down to $0.0062, what happens if I put the STOP amount as $0.0062 and the LIMIT amount as $0.0001? My understanding is that putting the LIMIT so low will essentially make this a 'stop market' order as a) it will sell as close to $0.0062 as possible but maybe just under, and b) putting the LIMIT so low will essentially mean that the sell order is bound to go through.

So, with the above example, even if I've put the LIMIT as $0.0001, it should still sell somewhere near the STOP price of $0.0062 so I would expect it to sell at $0.0062 or $0.0061... and there should also be no danger of it not selling because it will keep trying to sell right down to $0.0001.... Have I understood this correctly?

Yes, you are absolutely right with that explanation. However, I don't think you need to set the limit price too low at $0.0001. Maybe this is okay for an exchange that has a high trading volume like Binance. What I'm worried about, is that you apply it in a low-volume exchange, the opportunity to sell at the lowest price is very possible. Just set a limit price at a fair value (you can afford to sell at that price).

[loll_l]

Ah yes it looks like the 'stop market' option is available on the 'Futures' screen but it won't give me access to all coin/token trades in 'Futures' from what I can tell. If I want put a 'stop market' sell order for the SPELL/USDT pair for example - is this not possible?

Just checked my binance account, looks like you are right. The “stop market” feature is not available for spot trading. Sorry.

Apologies I explained this incorrectly - I shouldn't have used $1 as the LIMIT example as that was way too high!... Basically what I'm asking is, using SPELL/USDT as the example, if I want to put a stop limit order to sell if/when SPELL goes down to $0.0062, what happens if I put the STOP amount as $0.0062 and the LIMIT amount as $0.0001? My understanding is that putting the LIMIT so low will essentially make this a 'stop market' order as a) it will sell as close to $0.0062 as possible but maybe just under, and b) putting the LIMIT so low will essentially mean that the sell order is bound to go through.

So, with the above example, even if I've put the LIMIT as $0.0001, it should still sell somewhere near the STOP price of $0.0062 so I would expect it to sell at $0.0062 or $0.0061... and there should also be no danger of it not selling because it will keep trying to sell right down to $0.0001.... Have I understood this correctly?

Yes, you are absolutely right with that explanation. However, I don't think you need to set the limit price too low at $0.0001. Maybe this is okay for an exchange that has a high trading volume like Binance. What I'm worried about, is that you apply it in a low-volume exchange, the opportunity to sell at the lowest price is very possible. Just set a limit price at a fair value (you can afford to sell at that price).

Ok... thanks for your help