How to Set Take-Profit and Stop-Loss Orders on Binance Spot
The biggest fear after buying crypto is a sudden crash where you cannot sell in time, or watching a profit evaporate because you did not lock it in. Take-profit and stop-loss orders are the tools that solve this problem. You can set them up on the Binance official website or the Binance official app. iPhone users should first check the iOS installation guide to get the app installed.
What Are Take-Profit and Stop-Loss
In plain language:
- Take-profit: When the price rises to your target level, the system automatically sells, locking in your gains.
- Stop-loss: When the price drops to your bottom line, the system automatically sells, preventing further losses.
You do not need to stare at the charts all day. The system executes automatically on your behalf, whether you are asleep, at work, or away from your device.
How to Set a Stop-Loss Order on Binance
Step 1: Navigate to the Trading Page
Open the app → Trade → Select the trading pair for the token you hold (e.g., BTC/USDT) → Switch to "Sell."
Step 2: Select the Order Type
In the order type dropdown, find "Stop-Limit" or "Stop-Market."
- Stop-Limit: After triggering, sells at your specified limit price.
- Stop-Market: After triggering, sells immediately at the current market price.
Beginners are recommended to use Stop-Market, because it guarantees execution once triggered. Stop-Limit orders risk not being filled if the price drops through your limit level too quickly.
Step 3: Set the Trigger Price
The trigger price is your stop-loss threshold. For example, if you bought BTC at 65,000 USDT and can tolerate a maximum loss of 5%, set your trigger price at 61,750 USDT.
When BTC drops to 61,750, the system automatically triggers the sell order.
Step 4: Set the Sell Quantity
Enter how much you want to sell. You can sell your entire position or just a portion.
Step 5: Confirm the Order
Verify that the trigger price and quantity are correct, then submit.
How to Set a Take-Profit Order
Setting a take-profit order follows the same process as a stop-loss, but in the opposite direction:
- Navigate to the trading page → Sell
- Select "Take-Profit Limit" or "Take-Profit Market" as the order type
- Set the trigger price (your target profit level)
- Enter the quantity
- Confirm
For example, if you bought BTC at 65,000 and want to sell when it reaches 70,000, set the trigger price at 70,000.
OCO Orders: Set Take-Profit and Stop-Loss Simultaneously
Binance offers OCO (One Cancels the Other) orders, which allow you to set both a take-profit and a stop-loss at the same time. When one is triggered and executed, the other is automatically canceled.
How to Place an OCO Order
- On the trading page, select "OCO" as the order type
- Set the take-profit price (the upper limit sell price)
- Set the stop-loss trigger price and limit price
- Enter the quantity
- Confirm
This eliminates the need to place two separate orders — a single OCO order handles both your take-profit and stop-loss.
The advanced trading view on the Binance official website provides the most convenient interface for setting up OCO orders.
How to Determine Your Take-Profit and Stop-Loss Levels
Setting the Stop-Loss Price
Your stop-loss should be neither too tight nor too loose:
- Too tight (e.g., only 2%): Normal market fluctuations will trigger the stop-loss frequently, and you will be "washed out" repeatedly.
- Too loose (e.g., 30%): By the time a 30% loss triggers the stop, the damage is already severe.
A general recommendation is to set the stop-loss in the 5% to 10% range. The exact level should depend on the specific token — more volatile assets warrant slightly wider stop-losses.
Setting the Take-Profit Price
Take-profit levels depend on your return expectations:
- Short-term trades: Consider 5%-15% take-profit
- Medium-term holds: Consider 20%-50% take-profit
- Long-term investments: Consider 100% or higher, or do not set a take-profit at all
A smart variation is scaled take-profit: sell half your position when you are up 20%, then sell the remaining half when you are up 50%.
How to View and Modify Your Orders
Viewing Open Orders
At the bottom of the trading page, there is an "Open Orders" section where you can see all unfilled orders, including your take-profit and stop-loss orders.
Modifying Orders
If you want to adjust the trigger price, you need to cancel the existing order and place a new one. Binance currently does not support direct modification of orders that have already been placed.
Canceling Orders
Find the relevant order in the open orders list and tap cancel. Your tokens or USDT will be unfrozen and returned to your available balance.
Common Mistakes to Avoid
Setting Stop-Loss but Not Take-Profit
Many people focus only on preventing losses and forget to set a take-profit target. The result is watching a profitable position turn around and give back all the gains. It is recommended to always set both. OCO orders make this easy.
Setting Stop-Loss at Your Entry Price
Some people place the stop-loss at exactly their purchase price, thinking "I just do not want to lose money." The problem is that normal price oscillation around the entry price is completely standard, so the stop-loss gets triggered prematurely. Place your stop-loss below a meaningful technical support level, not at your personal cost basis.
Moving the Stop-Loss to Avoid Taking a Loss
When a stop-loss is triggered, it means you took a loss on that trade. That is normal. Do not keep moving the stop-loss further down to avoid the pain of a loss — doing so defeats the entire purpose and is no different from having no stop-loss at all.
Safety Reminders
When using take-profit and stop-loss orders:
- Double-check that the order direction and price are correct before submitting. Setting the stop-loss price above the current price, for example, is a common error.
- During major market moves, market-price stop-losses may experience significant slippage, but some execution is always better than none.
- Periodically verify that your pending orders are still active. System upgrades can occasionally affect open orders.
- Do not over-rely on take-profit and stop-loss orders. They are tools, not guarantees.
The Binance official app makes setting take-profit and stop-loss orders especially convenient, and also supports configurable price alert notifications. iPhone users can refer to the iOS installation guide for setup.