Ethereum: Using Binance Futures Trailing Stop Order With Python
As of my last update in April 2023, Ethereum futures trading on Binance has introduced a feature that allows users to place trailing stop orders. The Order’s Price is based on its performance relative to its target. This can be particularly used for traders who aim to lie their loss or lock in profits.
In this article, we’ll walk through an example of how to
Prerequisites
Before diving into the code and explanation, ensure that you have:
- A binance api account : you need to create an account on binance and obtain a client id and secret. This is necessary for authenticating your api requests.
- The
requestslibrary for python :
.
Code Example
Here’s an example code snippet that demonstrates how to place a trailing stop order on Ethereum futures:
`Python
Import Requests
Replace these placeholders with your actual values:
Symbol = "Ethusdt"
Ethereum USDT (E.G., ETH/USDT)
Client_id: int = 0x12345678
Client_secret: str = ""
Def_order_symbol (symbol):
Return f "{symbol} _usd"
DEF place_trailing_stop_order (order_type, symbol, stop_loss_price, trailing_stop_price):
"" "Place a Binance Futures Trailing Stop Order.
Args:
Order_type (str): type or order. Can be either 'limit' or 'stop'.
Symbol (str): symbol of the contract.
Stop_loss_price (float): the price at which to trigger a stop-loss sale.
Trailing_stop_price (float): the price below which to lock in profit.
Returns:
Dict: order details if successful, none otherwise.
"" ""
Base_url = "
Create the Order Request Body
Data = {
"Type": Order_type,
"Side": "Buy",
or sell
"Limit_price": Stop_loss_price,
"Stop_price": Trailing_stop_price,
"Symbol": Get_ORDER_SYSMBOL (Symbol),
"Leverage": 1,
use default leverage if not specific
}
Try:
response = requests.post (
f "{base_url}? symbol = {symbol} & type = order",
json = data,
headers = {
"X-Mbx-Apikey": Client_id,
"X-MBX-TS": int (client_secret),
},
)
Response.Ofaise_for_status ()
Raise an Exception for Http Errors
Return Response.json ()
Except requests.Exceptions.RequestException as e:
Print (F "Request Failed: {E}")
Return None
Example Usage
Let’s Place a Trailing Stop Order on Ethereum USDT (ETH/USDT):
`Python
Stop_loss_price = 10000.0
$ 10000 Stop-Loss Price
trailing_stop_price = 2000.0
$ 2,000 Profit Lock-In Price
Order_details = place_trailing_stop_order (
"Limit", "Ethusdt", Stop_loss_price, trailing_stop_price
)
If order_details:
Print ("Trailing Stop Order Successully!")
Else:
Print ("Failed to Place Trailing Stop Order.")
Important Considerations
- Risk Management :
2.
.