In this tutorial, we will explain to you how to enable Advanced Take Profit & Stop Loss in Binance Futures. These settings will allow you to set better exit options for your trading positions based on percentage gain or loss.
"Setting up take profits and stop losses for your trades allows you to more easily trade from your bias, not your emotion."
Head to the Binance Futures interface
When in the Binance Future interface look on the top right corner for a setting/configuration icon (see image). Click the button and a popup should appear with a few more configurations.
Enable the Advanced TP/SL
Click the empty box on the left of the “Advanced TP/SL” option, it should show a yellow-ish filled checkmark such as the one above it.
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View the new TP/SL settings
Before entering a new position you can automatically set a TP/SL, click the TP/SL button and a new menu below should appear where you can display the TP
Setup TP & SL
In the TP/SL box, you can set your exits & stops and Binance will automatically calculate your PnL (Profit and Loss) so this method is really easy to instantly see your risk & reward ratio.
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