Setting Stop-Limit Orders on Binance API for Spot Trading with Python
Instantly Trading, Managing at risk is crucilial. One effective way to mitigate loss is by setting stop-loss and take-profit limits on the trads. In this article, we’ll guide you’re the processes of STOP_LOS_LIMIT Orders in the Binance API using the python Binance library.
Prerequisites
Before Proceeding, Ensure that:
- You have account with the AChount with API Access Enabled.
- You have been installed the
python binancelibrary via pip:pip instal python binance
- You have repanced placeholders with your actual API Crendials and Binance API endpoint URL
Step 1: Retree User’s API Credentials
To use the Binance API, you Need to obt with your API Credentials from the Binance Website. Follow these steps:
- Log in your Binance account.
- Click on
Account >API*.
- Scroll down and click on *Create New App.
- Fill out the required information, including API endpoint URL and clien ID/CSP.
- Note down your
Client Secret and *API Endpoint
Step 2: Set up Stop-Limit Orders using Python-Binance
Now that you have your credits, let’s crate STOP_LOS_LIMIT organs:
`python
import os
the binance.client import Client
Replace with your actual API Creditials
client_id = 'YOUR_CLIENT_ID'
client_secret = 'YOUR_CLIENT_SERET'
Set up Binance Client
binance_client = Client_id=client_id, clien_secret=client_secret)
def crese_stop_loss_limit_order(symbol, side, amunt, stop_price, limit_price):
All
order = binance_client.create_order(
symbol=symbol,
type='limit',
side=side,
Price=binance_client.current_market_price(),
quantity=munt,
customs=" STOP_LOS_LIMIT"
)
print(" STOP_LOS_LIMIT Order created success fully!")
return order
symbol = 'BTCUSDT'
side = 'buy'
Set to 'sell' for celling
amunt = 1.0
Set the amunt off tokens you want to butsell
stop_price = float(Binance_client
limit_price = float(binnance_client
Order = creete_stop_loss_limit_order(symbol, side, amunt, stop_price, limit_price)
Step 3: Executute the STOP_LOS_LIMIT Order
Now that you've created the order, let's execute it:
python
Execute the STOP_LOS_LIMIT Order
result = binance_client.exee_order(orders)
print(f" STOP_LOS_LIMIT Order execution result: {result['result']}"))
Tips and Variations
- To set the multipliers of the orders with differentiation of stop-loss and take-profit prices, sampling the stop_price’ and
limit_price' variable.
- Consider ing a delay between the initial resort and execution to account unamarking fluctions. You will havebinance_client.current_time() +
By following these steps, you’re shold bead to succupully set STOP_LOS_LIMIT Orders on the Binance API using Python-Binance. Recovery to hand-drive that of the reindeer reinforcement reindeer execution and consided improper logic for managing stop-loss and risk management strategies.
