How to Trade on Binance Binance’s Trading Interface

hey there so in this video i am going to talk about binance’s trading interface now it can get kind of confusing or overwhelming if you’re new to trading so that’s why i created this video or i am going to be talking about these parts right here now if your screen doesn’t look like mine what you need to do is you’ll need to go into the settings and then you know choose whichever one but right now i’m on full screen and fresh and on dark mode or night mode so that’s why my screen may look like may look different from yours so i’m going to talk about these things right here and what it all means so there’s spot cross and isolated now they’re all a little bit different and you might be confused as to what those are so again in this video i’ll be breaking down what the differences are between these three and some of these functions over here right so i’m going to do that for both the buy and sell side so ethereum let’s just say the limit right so if i’m on spot and limit now what that means is spot is i have funds that i will currently want to use right so that means i actually have those funds i’m not going to borrow anything these are funds that i actually have so the first spot i have this much in my account right so at the moment i have about 100 usdt and point about 0.22 ethereum so what it’s saying is if i want to do a limit order that means if i do 200 that means i want to do i want to buy ethereum at 200 and let’s just say i want to buy 0.1 ethereum right this means that i want to buy 0.1 ethereum for 20 bucks which will cost 20 bucks at two hundred dollars so if ethereum does go to two hundred dollars i should be able to get my 0.1 ethereum and it will cost me twenty dollars on the flip side if i want to sell ethereum and i want to sell at 400 i put and i want to let’s just say 0.1 then i would put that in and it would give me 40 assuming that ethereum goes up to four hundred dollars right so four hundred point one forty dollars and you know if i list if i press sell ethereum it’ll create an order but i’m just going over these different menu options with you to clarify what they’re all about so that’s what the limit a spot limit buy and sell are right so that’s that particular option right there now if i go to market market means that i want to buy or sell at whatever price market prices so right now looks like the buy if i wanted to buy 0.1 ethereum i would pay this much i would buy it for 244.85 whichever one is the best price here right on the flip side if i want to sell my ethereum i got to sell it to someone who’s buying it so it’s i would have to i would get 244 84 for that for the one ethereum that’s assuming that there’s enough in the order books yep but there is so that’s what market on spot is now if i go to stop limit right this is a little bit confusing but what it basically means is if the price goes up or below a certain price then i want to get it right so example let’s just say uh and again this is more for higher advanced traders who like to buy on breakouts so example uh or or if you’re margin trading and you have to cover your shorts for example but i’ll talk about that a little bit later but this is what it means if the price of ethereum goes to 300 if it goes beyond 300 i’m willing to buy ethereum up until 301 dollars and you you know let’s just say i want to buy one well i can’t do that but 0.1 right so i want to buy one ethereum if or zero point yeah 0.1 ethereum if the price goes up above 300 up until 301 dollars so that’s what it means and it will cost me this much on the flip side this is saying that if ethereum right now goes below 200 i’m willing to sell it for 200 up until 199 and i’m going to put in my limit right so that’s that means if ethereum goes below this number and i’m going to sell it up until 199 and it’ll automatically sell now these the stop limit is more for risk management right so some people who are in trading positions they might say okay i’m willing to take this much risk right but if you’re someone who buys and holds you don’t really need to worry about stop limits now the other thing is oco or the order cancels order this is very similar to stop limit but instead they have a an extra function here so this means so if i if you look over here the stop limit and amount they have that exact same thing for oco but the only thing that they add here is what is what they have at the top so what this is oco means its order cancels order so if one order happens it will cancel the other so example i want to buy ethereum at 200 or if it goes above 300 i will buy and again i’ll buy up the 301 so this means if ethereum goes to 200 i will get this i will be able to get it for 0.1 or if ethereum goes above 300 then my order gets executed right so that’s what this part here means it’s one order will cancel the other so it’s kind of like you’re in between your your order is just outside it’s sandwiching the market value right so that’s what this means here and this is kind of the same thing if example it goes to 200 or example sorry if it goes to 400 i will sell or if it goes to 200 and then oops 199 and 0.1 this is the opposite if ethereum goes to 400 i will sell 0.1 of it or if this happens first or either one then or if ethereum goes to 200 i automatically sell so it one order will cancel the other so that’s what that means for oco on sp spot market right so that’s only for spot now there’s other parts here where there’s cross and isolated now i’m going to talk about that so if i go to cross right now you you’ll notice that you’ll have the limit market oco which is the same right that that stuff i’ve just talked about it’s all the same but what cross margin is is basically you are borrowing a margin you have the option to borrow on margin right so there are three different options here there’s normal borrow and repay so for example borrow or normal this is how much i have in my margin account at the moment right of 970 usdt but if i want to borrow that’s the maximum how much i can borrow based on my current position right or if i want to repay it then you know that that’s something else but i haven’t borrowed anything at the moment so for example when you margin trade right just as you would with a regular account when you trade just as you would on spot what margin trading is is you’re borrowing funds to now place your order right so example here if i do normal this is i can only buy a maximum of 970 dollars worth of usdt at whatever price right but if i borrow right now i can borrow up to this amount to place an order right so that’s what the borrow is the repay is once i’ve once i’ve bought it back and then i repay it back to binance which i’ve borrowed it from right so that’s what that means and that’s it’s the same with the sell side you can sell right now i don’t have any ethereum in my cross margin account you will have to put ethereum in there so example if i did click on transfer right and i can transfer from my spot account to my margin account so that’s what i can do right there or i can borrow some ethereum right so for example if i click on borrow it’ll show me how much ethereum i can borrow right that’s how much ethereum i can borrow and this is more so for short selling right if you want to borrow ethereum right so that’s what that is and then you can also repay it so let’s just say you you borrowed some or you borrowed some ethereum and then you want to repay it right so that’s what that option is so pretty much the only difference between spot and cross is that you can borrow on margin or trade on margin or borrow essentially right and there are some functions here that allow you to borrow and repay now isolated oh i haven’t created that but if you haven’t created you’re gonna have to create one just click on that and the only difference between the isolated and cross is just how the risk is calculated so isolated means that it’s only for ethereum so that means my risk i can leverage up to 10 times only specifically on ethereum against whatever collateral i’ve put in there now cross is across all of my assets that are in that account and on different um i guess positions or or different cryptos that i have so isolated and cross they’re exactly the same but if i i have to put money specifically in the isolated account so there’s you’ll have a spot account your cross account and you’re isolated and the way the risk is calculated if you’re margin trading or borrowing it’s calculated differently between cross and isolated which makes sense because for isolated it’s just ethereum’s price where they calculate your risk cross is all across all the cryptos right so and that could very well change so that’s pretty much how you can use binance’s interface right here i mean it is kind of confusing especially if you’re new to crypto and you don’t really know how to trade just yet it can be overwhelming or kind of confusing if you’re just honestly if you’re new to crypto just stick with the spot section right here if you’re feeling kind of risky then yeah maybe do some margin trading but i i wouldn’t recommend that unless you knew the risks of margin trading right so uh there there’s a lot of risks involved especially if you something called getting liquidated or margin called and that’s something that you don’t want to happen it basically means that they’ve taken your collateral and uh and whatever you’ve put in is all gone so yeah but that can’t happen on spot because you’re not borrowing anything all right so yeah anyways that’s uh that’s pretty much binance’s trading interface and i hope that uh i was hope i was able to help you out if you have any questions or comments leave them down below because i do check them and i do respond to them if you are interested in receiving notifications of my future videos then hit that subscribe button other than that thanks for watching and i’ll see in the next video bye for now

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