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Few questions (Beginner here) Can anyone explain the automatic selling aspect?

Binance

Cryptocoins Exchanges / Binance 211 Views

Hey guys, I am wanting to purchase some alt coins and I have a few questions.

1) Can anyone explain the automatic stop-limit trading? For example, IF I invested about 1000 into Loopring (LRC) when it was a $3.00, can I tell binance to sell it or trade it for BTC when it reached $3.50? (Or is it smarter to convert it to something else? Like eth? USD?)

2) Similar question, can I set Binance to BUY LRC if it reaches a dip of $2.50?

I am not sure if this is a real thing or not, it just seems nice to have it automated to buy/trade automatically. Any help appreciated! Thanks!

submitted by /u/mc_donkey
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