The two biggest fears in futures trading are not selling when profitable and holding through losses. Setting both take-profit and stop-loss is a fundamental skill. Binance supports setting both simultaneously when opening a position — it's not complicated.
Method 1: Set at Order Placement
This is the recommended approach — set TP/SL at the time of ordering, no need to add them afterward.
After registering on Binance, enter the futures interface:
- Select the trading pair (e.g., BTC/USDT Perpetual)
- Choose Long or Short
- Enter price and quantity
- Find the "TP/SL" option in the order panel
- Toggle it on
- Enter your take-profit price and stop-loss price separately
- Confirm the order
Once the position opens, both TP and SL orders are placed simultaneously. When price hits either condition, that order executes automatically and the other is cancelled.
Specific Example
Suppose you go long on BTC with an entry at 60,000 USDT:
- Take-profit: Set at 62,000 (auto-close at profit when price reaches 62,000)
- Stop-loss: Set at 59,000 (auto-close to limit loss when price drops to 59,000)
Regardless of which direction price moves, your maximum profit and maximum loss are both defined.
Method 2: Add After Opening
If you forgot to set TP/SL when opening, you can add them later:
- Go to the "Positions" tab
- Find your open position
- Tap the "TP/SL" button on the right side
- Set take-profit and stop-loss prices
- Confirm
Trigger Price Types
Binance Futures TP/SL offers two trigger price options:
Mark Price (Recommended)
- Weighted average from multiple exchanges
- Better reflects the true market price
- Less likely to be triggered by anomalous prices on a single exchange
Last Price
- Based on Binance Futures' latest trade price
- Faster response but may be triggered by brief price spikes
Mark Price is recommended to avoid being triggered by "wicks" (brief anomalous price movements).
Execution Types
After triggering, you can choose how the closing order executes:
Market
- Closes immediately at market price after trigger
- Guaranteed fill, but may have slippage
- Suitable for most situations
Limit
- Places a limit order at your specified price after trigger
- Better price control but not guaranteed to fill
- For situations with strict price requirements
For beginners, market execution is recommended to ensure the position actually closes.
Advanced: Tiered Take-Profit
Binance also supports multiple TP targets with partial closes:
- First target: Close 50% at 3% profit
- Second target: Close 30% at 5% profit
- Third target: Close 20% at 10% profit
This approach locks in partial profits while leaving room for larger gains.
FAQ
Q: Can TP/SL be triggered prematurely? If using Mark Price trigger, generally not. If using Last Price, brief wicks might trigger it.
Q: Can TP/SL be modified? Yes. You can modify TP/SL prices at any time from the position info.
Q: Does it work for both cross and isolated margin? Both are supported with identical setup methods.
Q: Available on both app and web? Yes. Download the Binance app for equally convenient mobile operation.
TP/SL Setting Tips
- Always set a stop-loss with every trade: This is an iron rule — no exceptions
- Don't set stop-loss too tight: Leave some room for normal fluctuations to avoid being stopped out by noise
- Risk-reward ratio of at least 1:1.5: TP room should exceed SL room
- Don't modify frequently: Once set, let it execute — frequent changes defeat the purpose
Summary
Binance Futures supports setting TP and SL simultaneously at order placement, and also allows adding them after opening. Use Mark Price trigger + Market execution as the default combination. Always plan your TP/SL levels before placing any order — it's the most fundamental risk control measure.