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As an active trader, you’re likely familiar with using the binance api to manage your future orders. However, when it comes to setting take profit (pp) and stop loss (SL) levels at the same time, you may encounter issues with the api’s functionality. In this article, we’ll explore how to achieve this feat.
The Challenge:
Set both tp/SL at the same time, you need to use a combination of the binance api’s Positions.Update Endpoint and some additional logic. The
Solution:
Endpoint in conjunction This approach will allow us to set both tp and sl levels for each future simultane.
Here's an example code snippet that demonstrates how to achieve this:
php
// Set Up Binance API Credentials and Options
$ binanceapi = new \ binanceapi \ client ('your_api_key', 'your_api_secret');
$ APIOPTIONS = Array (
'apikey' => $ binanceapi-> getconfig ('apikey'),
'secretkey' => $ binanceapi-> getconfig ('secretkey')
);
// Define the Futures Contract and Position ID
$ futuresontractid = 'your_futures contract_id';
$ positionid = 'your_position_id';
// SET THE TP/SL LEVELS FOR EACH POSITION
$ TPlevel1 = 1000; // 10% Profit Target Price
$ sllevel1 = 900; // Stop Loss Level (Set to 10% of the Contract Price)
$ StoplossPrice1 = $ Binanceapi-> GetMarketData ('SMA', '4H', $ FuturesContractid, True)-> Getclose ()-> Getlow ();
$ takeprofitprice1 = $ sllevel1 * 0.9; // SET TP LEVEL TO 90% OF SL LEVEL
// Set The Trailing Stop Loss
$ StoplossPrice2 = $ Binanceapi-> GetMarketData ('SMA', '4H', $ FuturesContractid, True)-> Getclose ()-> Getlow ();
$ takeprofitprice2 = $ sllevel1 * 0.9;
// Update Positions with the New TP/SL Levels
$ positionsupdate = Array (
'Symbol' => $ FuturesContractid,
'side' => 'Buy',
'Type' => 'Limit',
'positionid' => $ positionid,
'quantity' => 1,
'StoplossPrice' => $ StoplossPrice2,
'takeprofitprice' => $ Takeprofitprice2
);
$ Binanceapi-> POSITIONSUPDATE ($ POSITIONSUPDATE, ARRAY (
'APIOPTIONS' => $ APIOPTIONS
));
In this code example:
- We first set up the binance api credentials and options.
- We define the futures contract and position ID.
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Note:
Additionally, please ensure that your binance api credentials are set up correctly and you have sufficient permissions to perform these operations.
By using this solution, However, keep in mind
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