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Is trailing stop on spot on Binance essentially a stop-limit or am I missing something?

Binance

Cryptocoins Exchanges / Binance 105 Views

I just read the Binance tutorial and what I get from it is that on spot trailing cease is nothing more and nothing less than a stop-limit with a unique identify.

I just learn this

https://www.binance.com/es-LA/support/faq/339635f6260d43c5aefa4c3c921728ec

And what I get from it's that in a purchase if the worth goes above the trailing worth, it units an order so you purchase at a worth that you simply set at restrict ( esentially a stop-limit) but if the worth goes down the trailing worth will go the infinitum, and when the market worth goes above the trailing worth I can purchase it but not at the present trailing worth however at my set worth restrict (esentially a stop-limit)

The restrict worth set by no means updates, it stays the same, and trailing worth is ineffective when you don't buy when the worth equals the trailing worth, it just sends an order to buy it at your set worth (this is esentially a stop-limit)

Leys say I need to buy and I set my delta trailing 5%, the activation worth is 9000, my restrict worth is 8900

the costs goes right down to 3000 and my trailing worth is 3150, then the market worth goes to 3200. The order is activated.

I gained't be shopping for at 3150, I shall be shopping for at 8900, that is extraordinarily dumb. trailing stop is esentially a stop-limit with more buttons that do nothing.

it ought to set a purchase order at 3150, is the logical thing, not 8900.

The 3150 won't set a buy order at that worth but it can set a purchase order on the limit worth.

submitted by /u/HardTruthssss
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