Trailing stop loss Binance

How to set a Trailing Stop Loss on Binance Complete Guide

This video explains how to set a Trailing Stop loss on Binance. This is where we set a stop loss against a percentage amount rather than a fixed price which is what we do with normal Stop losses.

This means that the trailing stop moves up or down by the given percentage amount which allows a trader to stay in the trade as price increases.

You can only use it on Binance futures. It is not available on Binance Stop trading.

You need to first set your market of limit order first. If you are going long, then when using the trailing stop loss you need to hit short sell after you have picked your call back rate and activation price because you are aiming to close out a long position.

If you are going short in your market order, then you need to buy long on trialing stop loss after you have picked your callback rate and activation price.

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