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How to Use a Stop Limit - Stop Loss on Binance - Explained For BeginnersA stop-limit order is an order to buy or sell a cryptocurrency at a specific price, but only after a certain "stop price" is reached. The stop. A Stop-Limit Order is used to place a Limit buy/sell order once the market price reaches the designated Stop price. A stop price is a trigger. Setting up the Binance stop loss order starts with selecting a cryptocurrency pair that you want to secure. Next, you will have to click on the Stop Limit tab.