How to use stop limit on binance
[step-by-step guide] how to set a stop-limit (stop-loss
According to some posts, in order to put a stop loss and a take benefit for a long order at the same time, one can buy a market order and sell a stop limit order (with the stop loss value for the stop price and price) in addition to selling a limit order (with the take profit value as a limit), but this method does not work if the take profit is hit.
You may use OCO orders as a simple form of trade automation when trading on the Binance Exchange. This feature allows you to place two limit orders at the same time, which can be useful for taking profits and limiting possible losses.
How to use a stop limit – stop loss on binance
When you place a limit order outside of the market (for example, a sell order below the highest current buy order or a buy order above the lowest existing sell order), the best available existing order will be filled instead of the limit order’s price.
For instance, buy limit orders will only be executed at the limit price or a lower price, while sell limit orders will only be executed at the limit price or a higher price.
Since all “taker” orders are paired with the best available current “creator” orders, this is the case. This ensures that if a sale limit order isn’t filled at the specified price, it will be filled at the next higher price.
How to set a stop loss on binance – proper way to use stop
I’d like to enlist your assistance. I’m trying to update my python code to submit OCO orders through the Binance API instead of limit/market orders. Limit orders, business orders, and stop loss limit orders are all possible for me. I’m having trouble placing an OCO order…
I was sending order type=ORDER TYPE LIMIT when I used limit order, then I used order = client.create order() and it worked. When I wanted to send a market order, I used order type=ORDER TYPE MARKET; however, when I wanted to send an OCO order, the only choice that seemed to work was: So I can’t use order type. Since ORDER TYPE OCO does not exist and ocoAllowed is valid, I should be able to submit an oco order. However, I receive the following error: “error 1013: Stop loss orders are not supported for this symbol. order failed.”
What I want to do is set “price” as a limit sell order, with a higher take profit when the price reaches that level, and a lower stop loss “stopPrice” if the price drops…all at once. This is the way OCO should operate.
The stopLimitTimeInForce parameter is required by the OCO order. I’ve used the value ‘FOK,’ but here’s a list of the other values you can use: What are time in force? https://help.bybit.com/hc/en-us/articles/360039749233-What-are-time-in-force -TIF-GTC-IOC-FOK- -TIF-GTC-IOC-FOK- -TIF-GTC
Crypto trading tip 3: stop limit orders explained – coinbase
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