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Spot Trading
How to Use the Stop-Limit Function
Binance
2017-12-11 10:53

A stop-limit order will be executed at a specified (or potentially better) price, after a given stop price has been reached. Once the stop price is reached, the stop-limit order becomes a limit order to buy or sell at the limit price or better.

Explanation of SL (stop-limit) mechanics:

Stop price: When the current asset price reaches the given stop price, the stop-limit order is executed to buy or sell the asset  at the given limit price or better.

Limit price: The selected  (or potentially better) price that the stop-limit order is executed at.
Quantity: The quantity of assets to buy or sell in the stop-limit order.

Example:

The last traded price of BNB is 18.4 USDT, and the resistance is around 18.30 USDT. If you think that the price will go higher after the price reaches the resistance, you can put a Stop-Limit order to automatically buy more BNB at the price of 18.32 USDT. This way you won’t have to continuously watch market movements waiting for the price to reach your target price.

Approach: Select “Stop-Limit” order, then specify the stop price to be 18.30 USDT and the limit price to be 18.32 USDT. Then click the button “Confirm” to submit the order.

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To Query Existing Orders: Once orders are submitted, existing ‘stop-limit’ orders can be found and reviewed in “open orders”.

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When orders are executed or discarded, your stop-limit order history can be found in “My 24h Order History”.

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