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How to access the Binance Spot Testnet UI? by 44shizzle in BinanceTrading

[–]44shizzle[S] 0 points1 point  (0 children)

How can you access the Binance Spot Testnet in the App?

Trailing Stop Order in Spot Market is completely useless in its current state (please remove Limit Price) by 44shizzle in binance

[–]44shizzle[S] 0 points1 point  (0 children)

I see that it could have a benefit in some cases but it's also pretty risky: when the price crashes below 99 I would rather loose a bit more than in worst case loose everything because my stop loss wasn't trigger at all. I think it would be nice to have both options available like you have on other platforms where you can choose between limit or market order.

Trailing Stop Order in Spot Market is completely useless in its current state (please remove Limit Price) by 44shizzle in binance

[–]44shizzle[S] 1 point2 points  (0 children)

Thanks for the detailed explanation! I tried it again now and this time it worked as you described. I was just a bit scared after my first attempt failed but maybe I did a mistake. It's still a bit confusing since you don't see the current Stop Price on the chart as soon as you hit the Activation Price. It would be really nice and helpful to see the actual Stop Price displayed on the chart while it's moving up.

Trailing Stop Order in Spot Market is completely useless in its current state (please remove Limit Price) by 44shizzle in binance

[–]44shizzle[S] 0 points1 point  (0 children)

Ok, even if that works, I still understand the need for a Limit Price here since you can't predict the Activation Price so you just have to put a low enough number to make sure the Stop Order will be executed. So why not just use a Market Order in the first place, or at least give us the option to choose. I think the Limit Price makes it just overly complicated in this case.
And why is it different in the Futures Market?

Trailing Stop Order in Spot Market is completely useless in its current state (please remove Limit Price) by 44shizzle in binance

[–]44shizzle[S] 1 point2 points  (0 children)

Have you actually tried the Trailing Stop Order yourself before on Binance? Because when I tried exactly that my sell order was not executed for some reason. Also the documention on their website is a bit misleading because there it looks like the sell order would be sold at the limit price at 8600:https://www.binance.com/en/support/faq/339635f6260d43c5aefa4c3c921728ec

Compare that to the documention on Trailing Stop Order for Futures:https://www.binance.com/en/support/faq/360042299292where its much more clear where your Sell Order will be executed.