williams080:
please please i beg the house and all the Guru, please i need a simple explanation and tutor about how to use the Stop Limit and Limit on binance please someone here should guild us Please!!!!!!!!!!!!!

I dont want to go and lose my hard earned money, because i dont know it at all.

in the buy and sell section green buy red sell


below the

limit
market
stop limit
stop market
trailing stop

for instance i want to buy usdt / btc 100usd, how do i make use of all these function please assist

You have to understand, Market Order, limit Order and Stop-limit/ Stop-loss first.

A market order is an order to quickly buy or sell at the best available current price.

A limit order is an order that you place on the order book with a specific limit price. The limit price is determined by you. So when you place a limit order, the trade will only be executed if the market price reaches your limit price (or better). Therefore, you may use limit orders to buy at a lower price or to sell at a higher price than the current market price. You have to have a projected price you want to sell or buy as the case may be.

A Stop-loss is an order placed to stop your loss if price fall below a particular price. Under OCO Stop-limit does the work of Stop-loss.

An OCO, or “One Cancels the Other” order allows you to place two orders at the same time. It combines a limit order, with a stop-limit order, but only one of the two can be executed.

OCO allow you to set a price you are projecting to sell and make profit, then it goes further to allow you set another order called Stop-limit should your projection be wrong and price retracted before reaching the projected profit price, it will sell off and not go down with the price. Your Stop-loss must be below or well below current market price else your order may execute immediately thereby making you loose on good runs. What I do is to monitor it, the moment I have good increase, I move my Stop-loss upward...I keep doing this as the price goes up.

Remember, my Oga @Sailor1 have said it all....if you enter the market at the right time, you don't need a Stop-loss..just continue to take profit. Be careful with the confidence OCO gives you. It can make you loose on good runs or make you stagnant. Especially if you are a goat like me

Sailor1:


Like seriously

Well it seemed to have held support at 120 and may take a shot at the 150 level again.
Already, I've said much about bnb and huge pumps already

Seem 120 won't hold

Sailor1:
Alot of altys are roaring for a bullish move... Eith needs to blow the whistle

We are waiting for the trumpet

Sailor1:


Baba... this is the time to make significant profits... we waited 3 years for this,,,, Crypt0 bear markets no be here oooo... They are equally brutal.
It is the profits made now that will give you the confidence to trade the bear market.

As per suggestion, I don tok am finish before... Emotion is a money killer... e follow kill some of my profits too

Alright thanks.

Help us dey add exit point...make we dey follow bumper to bumper

Sailor1:


Hehehe... how do you want it to be moving

Boss you are doing well.

I'm doing well too....still jumping up and down though.

Still kept making money and loosing part of it, as a result of bad entry and exit.

I need to overcome that..... suggestion on how to overcome that will be appreciated.

Not doing badly though. As always, Thank you for your guidance

Sailor1:


Don't jump in unnecessarily...and be patient too

Lol.... your boy don jump in already.. luckily it hasn't really affected me.

I'm going to stay put.

See XLM.... that's what I left for Zil oo.

This market requires patient

Thank God I still have few XLM

Sailor1:


You're welcome

LTC is an old guy and can be snailly at times, but it'd get there eventually. I believe once it takes 180 successfully, it'd start accelerating quickly.

Personally, I dont trade tron cos I see it ti be too wicky.. it can pump crazy at times but it doesn't suit my trading pattern. It looks due for a pump though

Sniping a good micro may not be bad for your portfolio... Some have not really run and may do so soon... I have my eyes on zil and theta... Trying to get good entries. Some micros can give insane orofit at this stage but are more risky so I allocate a small portion to them. Finding good unpumped ones are difficult cos trust me, some are dead

I'd add that in this market, stuff can move irrationally to the upside.... Just be at rest that no one can time the top. Jumping back in a position soon after leaving like you did is one of the easiest ways to buy the exact top and lose all your profits. When you've taken enough profits and your HTF targets are met, be happy to close it. If it runs, let others benefit. You can decide to leave a moon bag and maybe put a stoploss on it to reduce the temptation to FOMO if it goes higher.
If the market dips now, you'd be annoyed with yourself for buying back... Though bnb seems intent on 100 for now

God bless you. I will check Zil and theta. thanks

Sailor1:


In current market conditions, when a coyn breaks ATH and starts running, I target x2 at least.
New coyns and small caps obviously do much more.

Also, most golks look to take profits around regular whole numbers e.g 100, 0.1 et.c

It broke out from around 40-50, stalled around 70 b4 taking it out...and seems to be accelerating.
Id put sells betwwen 90-95 once it crosses 80.

Also if its a large position, sometimes I leave a small amount called the 'moon bag' incase it keeps running after I exit

Some folks use a mathematical indicator called the Fibonacci level to estimate

Thank you sir.

Your boy don japa at 68 when it revert to 65. Now it's in 70 seem to be going higher.... I'm just too afraid this days.

I shared all my portfolio between XLM, ETH, Tron and LTC. Just now I put just 45usd in BNB back, hopefully I will be safe. I've really tried this past 5days. With my 151usd, I've made 50usd. Hopefully i won't experience any downsizing soon.

Bless you all for me.

Sailor1:


BNB was long long overdue a move. It broke ATH at 38 a while ago nd had been consolidating around it
Its a very wicky coin and one I don't like trading. I never chase it. Sometimes, it can move this way or slow and steady for a long time. I only have some to pay less fees on binance.
Good if you're in it, I'd advise you take profit on the way up

Taken profit already sir.

However, I have like 29usd in crypt.o.com which I started as 20usd 2days ago. As you know crypt.o isn't like Bi.nance where you can use stop-loss to protect yourself or take profit on the way up.

It requires an outright sales.... please at what price do you think BNB may stall.

Or should I want to exit now, which coin would you advise I convert to.... any signal or stable coin that is consolidating

Sailor1:


I don't see panic selling from Nigeria affecting the market at all. It may temporarily affect ngn pairs moreso ngn/usdt conversion cos that is local but nope for the wider market

Thank you.

What's driving BNB. The thing they shock me

BNB....am I the only one noticing this coin. this co.in is givi me joy for 4days now.

What's the best action to take now. Sell off and wait for all this panick sellers to settle.

Seem everything is crashing down

Jerry59:
Lol y’all better listen

I pray they listen....

You can make the profit like I did with DOGE....and I was so confident from the start I could make it....I did made over 150k naira but I never knew I could loose it or knows how to keep my profit.

So when, they tell you to wait.... it's because you have a lot to learn. Now I am wishing I did wait.

Sailor1:


They are tokens which maximise your loss or profit..

Most folks here dont understand how margin traders move this market in the short term.
Look at the recent wallstreetbets fiasco or watch the big short to get a glimpse.
On the move of eith from 1400 to 1600, some folks have made x10 of profits a spot trader would make.

Leveraged token are offerings which mimic margin trading but reduce some risks... Most are limited to x3 either way. You wouldn't be lose your account (liquidated) but you can loose a large chunk.

On binance, you could search for 'up' or 'down' and see what offerings are there...

They're not for new traders... There best entered when you're quite sure of a move. Not when your mind feels there'd be a move.
Also, before you start trading them, its best you perfect your day trading in trading spot...
Keep off them if you can until you get the skill

Thanks.

Sailor1:


This market can be volatile and unpredictable but the cycles are well respected...

Eith breaks ATH, the party begins


BTW, who else trades leveraged tokens?

What is leverage tokens sir?

Jerry59:
I hate to see stories like this
Newbies have been advised couple times not to chase market. People have been making money from crypt0 and will keep making money till thy kingdom comes so stop thinking you’ve come late to the party. There will always be opportunities to buy moreover there are also a lot of other good coins to buy.

Instead of jumping in and hoping to get lucky use that opportunity to study about a coin( technically and fundamentally).... read, read and read you’ll benefit from doing so in the long run. Cheers!

Boss.

We the newbies are goats....we no dey hear words.

Moreover, getting burn is very good for us too.....see me now in less than 2weeks I don Sabi waiting for take me 6months. The fear of not getting burn is now the beginning of wisdom for me.

If you are newbies like me, you will do yourself a lot of goods by sticking to ETH and Bitcoin, mAybe LTC, Link and others mentioned here previously.

Don't run after prices, don't Day Trading, don't jump in and out. I promised you I have used myself as a scapegoat and I can tell you I came back bunt to ashes. Them warned me....infact on DOGE day, I came here robbed it on everybody's face that I'm going in and if I perished I perish. I wish I didn't.

Guys trust me I'm intelligent and I know and i was banking on it...I was so burnt that when xrp started I didn't near it.

Listen oooo. I'm saying it again. Don't do it.

AbdulJabbar1:


Jedisco is Sailor1 ; Sailor1 is Jedisco lol

Ehen....I could have bet all my coin on it

Hadsty23:
Where is jedisco abeg... a big thanks to everyone who have by one way or the other contributing/,ed to this thread. Gained and still learning.

God bless us all!

Jedisco and sailor1 has to be same, or brothers. If none....I therefore marry you together as brother's from today.

They kind of speak alike

Sailor1:


Nothing do u... Whatever route you find profitable... Hope you don't miss a rapid move..

For me once it crosses 1500, I'm not selling shishi until 2k at least

Now that bold is my major concern with this day trading and use of Stop-loss.

I discovered stop-loss keep making me miss out on rapid moves, especially around resistance/support level. Also, jumping in and out doesn't seem profitable. Still seriously researching.

Loss is a great motivator....the way I'm digging info and checking different strategies....you do think I lost more than 300usd.

FocusedB1h:

What is this eith I keep seeing in this thread pls? Is it Eth as in ethereum or another different coin?

Yes...Ethereum

Sailor1:


For number 1, frankly speaking, I cant tell. It's like going to the park and asking if the last bus that left would return. It may, it may not. I don't advise buying into green candles but sometimes I do if I think the potential upside is significant. For instance, I am not so bothered buying eith at its current price cos I know when it runs, it would not matter if I bought at 1300 or 1400... If eith wasn't moving, then I'd say to wait for entries but now there seems to be a market wide breakout and if eith continues up, they'd likely follow. Practically, what you could do is to look for those who haven't moved much with significant potential upside and sitting on support. Alternatively, you could enter on a flip of previous resistance.


2. It depends on the pulse of the market. sometimes, I sell part of my stash to fiat and wait for a dip to reenter same coin. If I think it's done moving for a while, I might just exit my whole position or leave a small part just incase it keeps moving.
Reentering other coins depend on the way the market looks. On a green day like this moreso after the microcap run last week, id rather move to fiat except I identify a potential good breakout. Cos when the marked pullsback, I'd get better entries on coins that have not moved
On other days when there are early runners, I swap. Allso, sometimes I make a quick trade to increase my eith or betece stash.. Its tricky
I'd five u an examle.. Last week I sold part of my uni and later the rest at 19.5 from my 5.1 entry a month ago. Seeing that micros were poppin and that betece would likely continue up, I waited and took entries on eith, zil, vet and atom. Obviously, those entries are in profit while Uni hovering around 18.5 and seems to be distributing. It may still run more but I'm not bothered. On another day, I might just have left profits in cash if betece was showing weakness.

in summary, taking profit in a basic way is selling part or all after a big move. What you do with what you sold can go several ways

Thank you Boss

billyG:

Will Ripp still run like a bull?bought @ 190 wanna offload @ 190...I dnt wanna burn ma fingers.

Xrp is one coin I so have expectation on, just like ETH. I made good entry but DOGE made me dump it before a good run of yesterday. Now I'm just waiting to make both my savings account. I want it to still come down.

Aquilapriscilla:
Why do everyone on this thread seem to be talking in parables or somekind of strange language?

������

Waiting you no understand

Gobengroup:
Boss pls how do this oco works

You have to understand, Market Order, limit Order and Stop-limit/ Stop-loss first.

A market order is an order to quickly buy or sell at the best available current price.

A limit order is an order that you place on the order book with a specific limit price. The limit price is determined by you. So when you place a limit order, the trade will only be executed if the market price reaches your limit price (or better). Therefore, you may use limit orders to buy at a lower price or to sell at a higher price than the current market price. You have to have a projected price you want to sell or buy as the case may be.

A Stop-loss is an order placed to stop your loss if price fall below a particular price. Under OCO Stop-limit does the work of Stop-loss.

An OCO, or “One Cancels the Other” order allows you to place two orders at the same time. It combines a limit order, with a stop-limit order, but only one of the two can be executed.

OCO allow you to set a price you are projecting to sell and make profit, then it goes further to allow you set another order called Stop-limit should your projection be wrong and price retracted before reaching the projected profit price, it will sell off and not go down with the price.


Remember, my Oga @Sailor1 have said it all....if you enter the market at the right time, you don't need a Stop-loss..just continue to take profit. Be careful with the confidence OCO gives you. It can make you loose on good runs or make you stagnant. Especially if you are a goat like me.

Sailor1:
I noticed some are looking towards coins to buy and hold for sometime.... Obviously, once eith moves, another run starts...

I'd mention certain things.

1. Before you buy a coin, at least look at the chart. You dont want to be buying a coin that has done x4 in the past month. Like it or not, smart folks took position before it ran and are distributing theire bags to you. Always look at the chart of a coyn for at least the last month before getting into it


2. People get excited when a coyn pumps well and the mentions increase. That's when smart folks leave. Some will now buy for high prices and after it's not pumped for sometime, they leave and jump to another top. Case in point is DOT. Few weeks ago, most folks were asking about DOT because it's done x4 in a month. I said it here I was selling my dot bags into other coyns. I'm sure alot bought it and have been disappointed for the past weeks. I believe it's consolidating for the next move, either way, it may also be distributing...

3. Try and avoid buying anything that has done over 20% in a day... You should laern to snipe entries before they move. Before you buy a coin that has moved 25% in a day, ask yourself why didn't you buy it yesterday

4. When you buy and hold, you know when to exit the market. When my coin has done x4 in a month, nobody needs to tell me to look elsewhere. If I was jumping in and out, I wouldn't even know.

5. If you're buying a coin that everyone is talking about on social media, then youre simply doing adashe wey u no go pack. Use market sentiment to your profit and don't be the sentiment others are profiting from. A coin would usually get attention after it's moved heavily and folks are looking on who to distribute. Exceptions may be some obvious big names.

6. Timing is everything... Coyns move in tandem. I said over the weekend that since microcaps have pumped, focus is shifting to the large guns. I sold my uni which I bought for 5 early January at 19.5 and used it to add more eith and link. Same also for aave.. which had gone from 100 to 300... Though I still have some left. Understand how the market cycles and try and move b4 it does

First, betece is king. If in doubt, go betece

Coins I believe would rest for a while after a very strong run. They may still run, but better opportunities exist elsewhere.

Aave
Uni

Coyns I believe would do well over the coming weeks. They have settled after a previous move up.

ETH
Link
Ada
Vet
Ltc
Algo
Zil
Atom
Xlm


That should do well but not typically strong coyns
YFI
Ren
Sxp

Can't say for now
DOT- may move up or down. Up seems more likely
Theta- it's moves are explosive and it runs for a very long time. Seems to be consolidating or distributing. Not in it

Each of those coins could easily give x2 and some x3 from here if you're patient. And I'm talking about the next few weeks. Needless to say, those coyns were at the bus station over the weekend...they have began to leave
Tip.. In these conditions, smaller caps usually perform better than large caps

Tip: even if you want to day trade, split your portfolio in two ir have another account on a different exchange. Use one to day trade and the other to keep sensible projects. Over time, look at which is doing better and which works for you.

2 questions.

Can we buy this coins at current price for hold or it will still retract.

Also, when you say you take profit. Do you mean you sold part of the coin leaving the worth of what you entered with. Or you sold outright and move to another seemingly under dog?

Akinola2345:
How do you people cash out usdt on binance spot wallet....i mean to my Nigeria bank acct?

Or can I sell to an exchanger?

Thanks

You can convert usdt to any coin or naira and withdraw to your account with 300 charges.

Sailor1:


Much appreciated baba... We're all here to build a community and learn from each other to become better investors.

Good you're learning risk management...
Unfortunately, you started in the midst of a bullrun and couldn't snipe good entries.
I'd say the best risk management is your entry... Person wey buy eith at 350 wouldn't be bothered about stop loss except at certain times of the market.

Thanks man.

Sailor1:
I noticed some are looking towards coins to buy and hold for sometime.... Obviously, once eith moves, another run starts...

I'd mention certain things.

1. Before you buy a coin, at least look at the chart. You dont want to be buying a coin that has done x4 in the past month. Like it or not, smart folks took position before it ran and are distributing theire bags to you. Always look at the chart of a coyn for at least the last month before getting into it


2. People get excited when a coyn pumps well and the mentions increase. That's when smart folks leave. Some will now buy for high prices and after it's not pumped for sometime, they leave and jump to another top. Case in point is DOT. Few weeks ago, most folks were asking about DOT because it's done x4 in a month. I said it here I was selling my dot bags into other coyns. I'm sure alot bought it and have been disappointed for the past weeks. I believe it's consolidating for the next move, either way, it may also be distributing...

3. Try and avoid buying anything that has done over 20% in a day... You should laern to snipe entries before they move. Before you buy a coin that has moved 25% in a day, ask yourself why didn't you buy it yesterday

4. When you buy and hold, you know when to exit the market. When my coin has done x4 in a month, nobody needs to tell me to look elsewhere. If I was jumping in and out, I wouldn't even know.

5. If you're buying a coin that everyone is talking about on social media, then youre simply doing adashe wey u no go pack. Use market sentiment to your profit and don't be the sentiment others are profiting from. A coin would usually get attention after it's moved heavily and folks are looking on who to distribute. Exceptions may be some obvious big names.

6. Timing is everything... Coyns move in tandem. I said over the weekend that since microcaps have pumped, focus is shifting to the large guns. I sold my uni which I bought for 5 early January at 19.5 and used it to add more eith and link. Same also for aave.. which had gone from 100 to 300... Though I still have some left. Understand how the market cycles and try and move b4 it does

Coins I believe would rest for a while after a very strong run. They may still run, but better opportunities exist elsewhere.

Aave
Uni

Coyns I believe would do well over the coming weeks. They have settled after a previous move up.

ETH
Link
Ada
Vet
Ltc
Algo
Zil
Atom
Xlm


That should do well but not typically strong coyns
YFI
Ren
Sxp

Can't say for now
DOT- may move up or down. Up seems more likely
Theta- it's moves are explosive and it runs for a very long time. Seems to be consolidating or distributing. Not in it

Each of those coins could easily give x2 and some x3 from here if you're patient. And I'm talking about the next few weeks. Needless to say, those coyns were at the bus station over the weekend...they have began to leave
Tip.. In these conditions, smaller caps usually perform better than large caps

Tip: even if you want to day trade, split your portfolio in two ir have another account on a different exchange. Use one to day trade and the other to keep sensible projects. Over time, look at which is doing better and which works for you.

Thank you.

I'm seriously banking on my experience with OCO on Binance....it has really helped me since yesterday I've made more profit than loss.

I usually move my stop-loss with any upward movement.

I've also learnt a lot from other mistake even with stop loss.

I guess I need to also keep moving my profit away to another exchange. Probably keeping my profits in ETH.

I sincerely appreciate the way you keep tutoring me. Guiding me, I don't think you noticed me yet but you have guided me than anyone here. I appreciate you. Abeg no get tire of me ooo

Sailor1:


Hmmm... Truth is I have no idea... No one can say what the market will do next
Said it here multiple times that in trading nothing is certain. We make decisions based on probabilities and risk. Moreover, nothing goes up in a straight line. There'd be pullbacks along the way. If it goes up to steeply, it sells off just like xrp or doge

Fact is it can dump to 300 usd from here or it may continue upward. Based on technicals (explained below), the upside seens the more likely direction hence my advice.

That said, it's unlikely to blast through 1400 in a dingle go. It'd take some time to resolve. But being the 4th attempt and the fact that its dipped less after subsequent previous attempts make me hedged more towards the upside.

Boss,
I currently have a very small portfolio and looking for a steady daily increase....maybe 10-15usd daily by entering low and taking profit at very low percentage increase too.

I currently do this, sharing the small portfolio of 170usd on 3 coins at ago, but now, I'm considering dealing with just one strong coin with a large cap and less volatility. E.g ETH, Betece, etc

Wondering which will be less risky and more profitable between the 2options.

Gurus your advise will be appreciated.

Xx

tammyboy1:
bro i wish i could like this your comment 1million times

Even me.

Funny enough I never knew I had it in me until this my 2weeks in crypto. It has cost me very very dearly.

Sailor1:


Careful with stoploss esp when u dont sinpe a good entry...

It's difficult to say... It's really held well especially with xrp all over the place... This shows bullish momentum... But then exrp dosent look like its done dipping...also betece looks somehow...
I'm in it for a longer time nd my average entry was around 0.32... I'm only worried if betece dips otherwise, I know it'd bounce up in the coming days... If xrp dips further and it still holds this level, thrn thats reassuring.

I don't rush back into a trade after I've been stopped except im relatively sure...
Id say it all depends on how long you're willing to hold for... But either way, observe for a while b4 making a decision

Thank you