I Cant change Stop Loss position | Bitcointalksearch.org

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Quote from: BitMaxz on February 20, 2024, 02:52:08 PM

...In Binance you can able to cancel any order or position(Stop-limit) in spot trading so I think the BingX exchange is the only exchange that can't cancel your old stop-loss position.

OP writes that he cannot edit the previously entered data for the stop loss, so he has to cancel the previously set stop loss and set a new one with new values. By the way, this problem is not only with the Bingx exchange.

Hamza2424

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Quote from: david678345 on February 20, 2024, 02:34:17 PM

I am using Bingx and in futures I can change/move the SL but in spot trading I cant change Stop Loss..

I have to cancel the SL position and open a new SL position if I want to change my SL...is this the same in other exchanges?

and what would be the best way to get the exchange to add this feature in spot trading? I contacted support but it seems it didnt work

Buddy the name you are mentioning is very unfamiliar to me because I had never tried that platform and it varies from platform to platform in which sort of features they provide on their platform to facilitate the traders, some exchanges allow SL customization even in the open position on future and some don't.

In solution to the problems you are facing with any feature try to find out which platform offers your desired features for trading it, Personally most of the top exchanges provide a standard set of features which is more than enough for a regular trader. Even now the DEXs are offering many advanced features which re not even available on most top-tier centralized exchanges. You can try them out a well, but you should analyze the DEX security and reliability first because it costs more on DEX trading due to additional network calls.

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Quote from: david678345 on February 20, 2024, 02:34:17 PM

I am using Bingx and in futures I can change/move the SL but in spot trading I cant change Stop Loss..

I never used Bingx but if they are showing a feature of editing SL in the future but not on the spot trading page, then it means they don't support this feature on the spot. Your sole request might not convince them to add this feature, but they might consider it also (as there is still that possibility), besides contacting them on support to see if they have a suggestion box page on their site, or visit there telegram if they are giving replying to you, then you can share your suggestion there.

But keep in mind that, exchanges don't take suggestions that seriously, I never used stop loss in Spot trading, because if I have some limit in my mind, I simply set the sell limit, instead of SL limit. I mostly use Binance. And we can edit the SL in Binance AFAIK.

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Quote from: BitMaxz on February 20, 2024, 02:52:08 PM

I never traded on BingX you mean if you set a stop loss in BingX it was locked and can't able to cancel it?
Do you see any error when trying to cancel it or the cancel button is greyed out?

In Binance you can able to cancel any order or position(Stop-limit) in spot trading so I think the BingX exchange is the only exchange that can't cancel your old stop-loss position.

I don't even know if Bingx have a restriction to other countries, because I have not make the use of BingX before, majority of people across the country make use of binance for their exchange, we have numerous exchanges that people exchange their coins to fiat currency, but the larger one way people know is binance

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Could you tell us which of the two you are using. Is it the Mobile APP or the web version. Obviously, most mobile apps of exchanges have limited functionalities as compared to the web versions.

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If you're trading in cryptocurrency, look for an exchange with a high volume and a large user base. The best exchange in the crypto sphere is Binance. You can also adjust your stop loss (SL) as desired in the spot market. However, a stop loss in the spot market can be set manually because if the SL is set as an open order, the take profit (TP) at a loss is unfavorable. Indeed, it's more advantageous to have a manual SL. This way, when the price is still in a loss, the cryptocurrency can still be staked to generate additional coins or used for margin trading.

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@OP, In every centralized exchange that I know, there are none that have the feature of "stop loss and take profit" on their spot trading account. If you are carrying out a spot trade on an exchange, you are not trading on leverage but rather trading based on the current price, or you can set the particular price at which you want your buy or sell order to execute. In future trading, you are trading based on leverage with respect to market volatility, and the need for a "stop losses and take profits" is to prevent your asset from being easily liquidated.

You cannot get liquidated on spot trading because you are trading at a particular spot price. So, it's not necessary to add the kind of feature you are implying on spot trade. Such a feature is only necessary in futures trading and not spot trading.

BitMaxz

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I never traded on BingX you mean if you set a stop loss in BingX it was locked and can't able to cancel it?
Do you see any error when trying to cancel it or the cancel button is greyed out?

In Binance you can able to cancel any order or position(Stop-limit) in spot trading so I think the BingX exchange is the only exchange that can't cancel your old stop-loss position.

david678345

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I am using Bingx and in futures I can change/move the SL but in spot trading I cant change Stop Loss..

I have to cancel the SL position and open a new SL position if I want to change my SL...is this the same in other exchanges?

and what would be the best way to get the exchange to add this feature in spot trading? I contacted support but it seems it didnt work

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