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Master Orders with Profit and Stop Loss Settings. However, navigating the complexity of the API of Binance can be intimidating, especially if they are faced with mistakes. In this article.
Requirements:
- Create a binance account if you don’t have one yet.
- Set Up and Suitable Trading Couple (e.g. EUR/USD).
3.
Step 1: Understand Border Orders
. Loss Settings:
* Take profit:
Determine a price where you can leave the trade when it reaches your target level.
* STOP LOSS: Determine a price at which new stop-loss order can occur to limit potential losses.
Step 2: Create and Limit Order
Following the following steps on binance to create a border order:
1.
2.
- Click on « markt » or « limit » to specify the order type.
- Select in the Dropdown Menu « » « » « Limitation Order ».
- Enter the following details:
* Page: Buy or Sell
* Type: Border Order (Market, Limit or Stop)
* Price: The Price You Want to Enter Into The Trade
* Quantity: The Number of Units You Want to Buy Or Sell
Step 3: Profit and Stop Loss Set -Settings
To set Profits and Stop Loss Settings:
1.
- Select « Take Profit » from the Dropdown Menu.
3.
- Set A Stop-Loss Price under or Via the Price for Take Profit.
5.
Step 4: Check and Confirm the Order
Check Your Limit Order Settings Carefully:
- Check whether the
, Type
, Price
and Quantity ** fields meet your requirements.
2.
Frequent Mistakes to Pay Attention to
When Creating A Border Order On Binance:
* Errors: Invalid Takeprofit or ‘Stoplost Price
+ Solution: Check Your Company, The Course Price and Your Stop-Loss Price.
* Error: InvalidSide, TypeorQuantity`
+ Solution: Carefully check your trading requirements and ensure the right values.
Additional Tips
To Improve Your Limit Order to Binance:
* use a reliable api key : make sure that your api key will not be expired or revoked.
Configure Your Account Settings **: Set Up Your Trading Couple, Your Symbol and Your API Authorizations to Optimize Performance.
* Monitor your orders : Keep an eye on your orders in the « Order » tab to recognize errors or problems.
Diploma
Creating a border order with a profit for profit and stop loss for the future. If you follow your financial goals. Remember to date on the api documentation and the restrictions of binance to avoid mistakes and to ensure a seamless execution of your orders.