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Can someone explain to me how to do stop loss on Binance?

Can someone explain to me how to do stop loss on Binance?

Binance

Cryptocoins Exchanges / Binance 13 Views

I’m a crypto noob and recently invested in a token that’s listed on Binance. In the coin’s telegram channel people were advising that investors create a stop loss order just in case the value ends up dropping in the coming days (it’s predicted to rise though).

The current price is 460 sats so I created a sell order for 440, the amount people had recommended. I wasn’t expecting the order to fill unless the price actually dropped but to my surprise it filled instantly. Luckily I hadn’t suffered a loss since it was more than I’d bought in for but it was still frustrating - clearly I don’t know how to create a stop loss order, so how exactly do you do it?

submitted by /u/darkest_africa
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