After buying crypto, the two biggest fears are: not selling when it's up, and not cutting losses when it's down. Binance's take-profit and stop-loss features let you set conditions in advance — when the price hits your target, the order executes automatically, no screen-watching required.
Where to Find Take-Profit/Stop-Loss
Go to the spot trading page on Binance. In the order area, click the order type dropdown and you'll see several options:
- Limit
- Market
- Stop-Limit
- OCO (One Cancels the Other)
Stop-Limit and OCO are the tools you'll use for take-profit and stop-loss.
How to Use a Stop-Limit Order
Let's say you bought BTC at 65,000 USDT and want to automatically sell if it drops to 62,000 as a stop-loss. Here's what to do:
- Select the Sell direction
- Set the order type to Stop-Limit
- Enter 62,000 as the Trigger Price (the order activates when the market reaches this level)
- Enter 61,800 as the Limit Price (once triggered, a sell order is placed at this price)
- Enter the quantity to sell and confirm
It's a good idea to leave a small gap between the trigger price and the limit price. After the trigger fires, the market is still moving, and if you set them to exactly the same number, the order might fail to fill due to a split-second price move.
Using OCO to Set Both Take-Profit and Stop-Loss
An OCO order stands for One Cancels the Other — two orders are placed simultaneously, and when one fills, the other is automatically canceled.
Using the same example, suppose you want to take profit at 70,000 and stop loss at 62,000:
- Select the Sell direction and choose OCO as the order type
- In the Limit section, enter 70,000 (your take-profit price)
- Enter 62,000 as the Stop Trigger Price and 61,800 as the Stop Limit Price
- Enter the sell quantity and confirm
This way, whether BTC hits 70,000 first or drops to 62,000 first, the appropriate order executes automatically and the other one gets canceled.
A Few Practical Tips
- Don't set your stop-loss too close to the current price — normal fluctuations will trigger it, and you'll get shaken out by a "fake dip"
- Consider setting take-profit targets in stages: for example, sell half at a 10% gain, and the other half at 20%
- After setting your orders, confirm they appear under "Open Orders" and check on them occasionally
After signing up for Binance, you can use these features directly on the spot trading page — no additional activation required. Mastering take-profit and stop-loss will significantly improve your trading discipline.