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Here is a step-by-step guide and example article on how to create an order in the Binance API using Python:

Creating an Order with Stop Price in Binance API

In this article, we will go through the process of creating an order with a stop price in the Binance API using Python. We will use the exchange.create_order method, which is part of the Binance API.

Prerequisites:

• You have a Binance API key and a pair of cryptocurrency symbols you want to trade.

• You have installed the binance-api library using pip:

pip install on binance

• You have the following Python code in a file named main.py (replace symbol, side, etc. with your actual values):

import requests


exchange = 'binance'

symbol = 'BTC/USDT' 




pair of cryptocurrency symbols

api_key = 'YOUR_Binance_API_KEY'

api_secret = 'YOUR_Binance_API_SECRET'


headers = {

    'X-MBX-APIKEY': api_key,

    'X-MBX-SECRET-PRESS': bee_secret

} }


params = {

    'symbol': symbol,

    'side': 'buy',

    'type': 'stop_loss_limit',

    'time_in_force': 'gtc', 
can be 'gtc', 'IOC', 'FOK'

    'reduce_only': 'true' 
only reduce the position when stop loss is triggered

} }


response = requests.post(f' headers=headers, params=params);


if response.status_code == 200:

    order_id = response.json()['id']

    print(f'Order ID: {order_id}')

else:

    print ( f ' Failed to create order . Status code : { response . status_code } ' )

Explanation of the Code:

• We first import the requests library, which is used for making HTTP requests.

• We define our Binance API credentials (api_key and api_secret) in a dictionary headers.

• We construct the request parameters (params) using the exchange, symbol, and other values ​​we want to include in the order.

• We make a POST request to the /api/v3/order endpoint on the Binance API, passing the headers and params as arguments. The time_in_force parameter is set to 'gtc' (good till cancelled) to allow for stop loss orders.

• If the order is created successfully, we extract the order ID from the response JSON and print it.

• We catch any errors that might occur during the request.

Tips and Variations:

• Make sure to replace symbol, api_key, and api_secret with your actual values.

• You can customize the time_in_force parameter as needed for your specific use case.

• If you want to cancel an existing order, simply update the params dictionary to include the updated parameters.

• Be aware of the API limits on creating orders (e.g., 100 orders per minute).

• Consider using a try-except block to handle potential errors and exceptions.

I hope this article helps!