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How to set take profit when there is no position yet

Personal Finance & Money Asked by Youss on January 18, 2021

I’m trading on binance futures and sometimes I see a nice (for example) resistance level. I then set a limit sell order so that if price reached that level I sell x coins. However I would also like to set a take profit in advance. So if that that level is reached and my sell is triggered there would already be a take profit in place.
Now using the binance platform I don’t see a future were I can do this. I could set a "regular" limit order (with reduce position only checked) that would function as a take profit but I see when price hits that limit order the system then cancels the order leaving me with no take profit if sell is filled. Of course I could wait for the sell to get filled and then set a take profit but the idea is to be able to set orders and walk away from pc.

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