I Cant change Stop Loss position
I Cant change Stop Loss position
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
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.
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.