Binance Trading Tutorial for Beginners (Order Types Explained)
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- čas přidán 25. 07. 2024
- In this Binance Tutorial for Beginners, you will learn how to set a market order, limit order, stop loss, stop limit, and oco order.
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Binance order types are essentially the instructions that you send to an exchange to buy and sell cryptocurrency. You tell the exchange, such as Binance, how you want to buy the cryptocurrency and at what price you are willing to pay for it.
The 5 basic order types are a market order, a limit order, a stop loss, a stop limit, and oco orders which stand for one cancels the other.
🔔CHAPTER TIMES🔔
0:00 - Binance Tutorial Introduction
1:14 - 1.) Binance Market Order
2:20 - Market Buy Order Example
4:02 - Market Sell Order Example
4:42 - 2.) Binance Limit Order
5:21 - Limit Buy Order Example
7:12 - Limit Sell Order Example
7:55 - 3.) Binance Stop Loss Order
8:48 - 4.) Binance Stop Limit Order
9:26 - Stop Limit Buy Order Example
10:35 - Stop Limit Sell Order Example
12:01 - 5.) Binance OCO Order
12:37 - OCO Order Example
14:07 - Key Takeaways + Special Rewards for You!
DISCLAIMER: This description contains affiliate links, which means that if you click one of the product links and make a purchase then I’ll receive a small commission at no additional cost to you. I'm not a financial advisor and this video is for entertainment/educational purposes only, meaning that you need to do your own research before making any investment decision. The video is accurate as of the posting date but may not be accurate in the future.
#ordertypes #binance #stoplimit #stoploss #oco #investing
This One of the only videos among thousands that actually explain how trading works on Binance with no unnecessary information.
Glad you enjoyed it! :)
Thank you! I managed to put by first order with your help! :)
Thanks Josh for putting up order expained in simple and not in rush. However OCO SELL example seems to be missed out. It would be great if u can add an example for OCO SELL order .
Very Informative video Josh...Keep creating such Awesome content!
Thanks so much! Really appreciate you joining the premiere and super glad you found the video helpful.😀
Just subscribed.Newbie here and just found your YT while looking for a clearer explanation of OCO. Can I just use limit order even for days without having floating loss? Thank you.
So there is no real SL TP order for buys and sells? I know with OCO you can do it for the sell, but you can't limit risk on a buy right?
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That's so amazing to hear! Keep up the great work.💪
Thanks for this video!! Been so confused with the different types of transactions and your video clearly explained everything! Keep going! 👍🏽👌🏾
You're welcome! I'm glad you enjoyed it :)
Man, your voice is so calm! It's great to watch your videos! :)
Thank you!
Appreciate that!
I'm still confused! So is it possible to set a stop loss as well as a price at which you wish to take profits in one hit? Or do you need two separate stop limit orders, one covering each scenario?
The most helpful video I've watched on orders, thank you .
Glad it was helpful! 😁
Does buying and sell order on binance the same as forex own.
what is post only order ? how to use them?
Another great video👍.
Appreciate that!!🙏
Well Precisely And Informative 👍
Appreciate that!
Well explained thank you.
You're very welcome!
When I try to do a limit order they execute at the market order in the past this problem wasn't but now it happen with me a lot, what's the solution?
Great..♥️
Nice ❤
I don't get the Market Buy order. Let's say I have 50 USDT that I want to use to buy BTC, no matter what the price of BTC at that moment.
Why can't I then specify the amount of USDT in the amount field?
Instead I have to calculate the amount of BTC I'm more or less receiving, which is never accurate.
Cool. Thx
You're welcome Rick!
Thanks
You're welcome!
Waiting!
18 minutes! 🚀🚀🚀
I'm starting to crypto trade and the amount of basic industry level standards for exchanges that's missing from this sector of investing/trading keeps blowing my mind. I had opened a coinbase pro account cause I thought "it advertises itself as a trader oriented platform" and it didn't even have oco orders... what a waste of time it was setting that up so I was looking up others and even binance DOES NOT HAVE oco orders listed for crypto order types it's under the futures section and so I cam here to see if you actually could use that order type AT ALL for crypto. Well thank you for making this video still not sure which to choose between this or kraken but those seem to be the only 2 with oco order types so I guess those are my only two options XD. Thanks for the video and time stamps so I could skip to it. Still wish the stop order could be a market order tho. Guess just gotta have a wide spread between the stop and stop limit
Thanks bro I can't express my happiness....I know this tutorial is not about upwork but I am following your upwork tutorials....and now after 15 days of creating my upwork profile just by following your guidelines I have won my first job of $45.... I'm very excited thank you so much.....
You're welcome and I appreciate the comment! That's so awesome to hear! I'm actually uploading a new Upwork proposal tutorial next week.😀
@@JoshBurnsTech Thank you so much. You are real hero. Hope to grow more on upwork by following your tips...keep it 👆 the great work bro😍😍😍
what do we do when our withdrawals are suspended due to risk managment for like 2 months with out any custumor service support?
Binance and other crypto exchanges definitely get overwhelmed with support requests. Luckily I haven't ran into this issue, but it did take a long time for my account to be verified when I first signed up. Unfortunately all you can do is keep reaching out and hope they get to it soon.
@@JoshBurnsTech thanks you for your time man! nive video!
@@marcoayala248 Absolutely! Glad you enjoyed it.
Thanks Josh 😀. I finally understands the limit order. What I want is to buy btc/usdt & then cancel the Order & see how much I Earn. Thanks Buddy 😇
You're very welcome! :)
It's so weird that you don't have a single order on Binance that allows you to set a LIMIT price to buy/sell an asset AND also set both a TP/SL for that very same order...
Actually you can. I don’t know why it won’t let you do it. Maybe you need the app
@@loicdragnel Please, do explain where I find this mate, I’d HIGHLY appreciate it!
Da best!
Glad you think so! 🙏
Still not sure why you would use a stop-limit instead of a limit order. Seems like an unnecessary extra step. Can anyone clarify?
Same wondering here
@@SufyMax And why isn't there a stop and a limit for a normal limit order? Why does it work that way for just one direction?
Thanks now i know something about crypto appreciate it 😂
Happy to help!
i need know this in help me
Hey! What questions do you have?
I placed a Stop sell order on Binance. My limit order got executed right away when the stop order triggered even though the the limit order was much lower. Can you explain why that happen pls?
Hey! That shouldn't happen unless the price dipped down and hit the limit price after hitting the stop. If your limit order was executed right away at your limit price, then another scenario could be if someone had a buy order placed in the order book at your limit price.
@@JoshBurnsTech my limit order is executing right away when the stop order is hit. My limit order is much lower but the trade is executing as soon the price is hitting the stop order. Works ok in a scenario where limit order is above the stop order but when the limit order is below the stop order the trade is executing right away when the stop order is hit.
Hi, thank you for the video.
Just want to ask for help,
For OCO. with your example Cardano,
Limit Price : 1.50
Stop Price : 1.70
Limit : 1.60
If the price goes to 1.70 triggered the order , cancel the 1.50 right. so now , since my order book open 1.60 waiting to be filled as 1.70 been triggered, let say it goes to 1.65 then shoots up to 1.80. Thus, the order been filled at 1.65? for 15.7 cardano coins? despite the higher price? or getting lesser coins?
Another situation,
1.70 * triggered , dip to 1.69 then goes up to 1.80, thus it mean they made an order at 1.69 then still get 15.7 coins or less? 🤔
if 1.50 gets me 15.7coins too then?
so both prices gives me 15.7 coins? 🤔
Thank you 🙏
Hey! Glad you enjoyed the video.
Correct, if the price of ADA hit $1.70 then that would trigger the stop-limit order and cancel the limit order. The second part is incorrect though. With OCO, your limit price within your stop-limit order is $1.60. Your order will not be filled until the price of ADA hits $1.60. So if the price dipped down to $1.65 and then shot back up, your order would remain in the order book.
If the limit order is triggered at $1.50 then your order will fill at $1.50 and the stop-limit order will cancel automatically. The main thing to remember is that OCO orders are a combination of a limit order and a stop limit order. You're thinking of a market order, which can involve getting a lower or higher price because it's executed instantly at the best available price.
Hope that helps!
I thought I saw you on up work?.
I'm on there!
there is literally no video on youtube that specifies setting target and stoploss in binance at the same time.