If you are trading on Binance and want to automate your buying and selling, you are in the right place! 🤓 In this article, we will explain to you how to use the automatic buying and selling feature with ease, whether you are new to the world of trading or even have little experience.
First: What does automatic buying and selling mean? 🤔
Auto Trading means that you set up pre-orders to buy or sell cryptocurrencies at prices you choose. For example, you tell Binance: “When the price of Bitcoin reaches a certain number, sell it automatically” or “When the price drops to this number, buy it automatically.” 👍
Basic steps for automatic buying and selling in Binance:
1. Open a Binance account: If you don’t have an account yet, sign up for Binance and activate your account by following the verification steps. 📲
2. Switch to the advanced trading interface:
• Log in to your account, then go to the advanced trading interface. Here you will find all the tools you need to control your orders. ⚙️
3. Select the type of order you want:
• Limit Order: Here you specify the price at which you want to sell or buy. If the price reaches this number, the order will be executed automatically. For example, if you want to buy Bitcoin at $27,000, you enter the number and it will automatically buy for you when the price reaches it.
• Stop-Limit Order: This type helps you if you want to sell or buy after the price reaches a certain point and continues to the limit you want. 🛑 That means you tell him “If the price drops to $26,000, sell immediately.”
4. Specify quantity and price:
• Write the quantity you want to buy or sell, and set the price. Binance will handle the rest. 😎
5. Follow the commands in the “Open Orders” interface:
• To know if there are orders waiting to be executed or not, go to the “Open Orders” interface and see what is happening. 👀
Tips for Automated Trading:
• Use “Trailing Stop” orders: This type of order allows you to specify a price to move with, meaning if the price rises, move with it and sell when it falls, and this is a good strategy to guarantee your profit even if the market changes. 🔄
• Define your goals carefully: This means thinking carefully before setting the price you want so that you don’t miss an opportunity, especially with the price fluctuations in the digital currency market! 💭
• Avoid greed: Don’t let greed make you wait for a long time, the market can change at any moment. Have a plan and stick to it. 😉
a summary
With Binance Auto Buy and Auto Sell, you can better manage your trades without having to monitor prices every minute. This service gives you great convenience and lets you focus on your strategy more than following the market. 🙌
Come on, try it yourself, and let your commands work instead of sitting in front of the screen all the time."