I trim off the excess batting and backing and then do a wide & long zig zag stitch all around the entire edge of the
quilt using a walking foot. On my Bernina 1031, its set at 5mm width and length. It works great.
I don't pin the binding as I go except for when I get to the corners. I use a walking foot to apply binding or my Pfaff with the IDT(built-in walking foot).