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Title: Any advance way of setting limit orders? Post by: btcb3g1nn3r on January 10, 2022, 04:43:48 AM Hi,
I'm on Binance. I want to do the following: Precondition: 0 USDT in account 1 limit sell order set at 40000 BTCUSDT What to do: if (BTC price < 40000 USDT) { set_limit_order("buy", amount) } I would like to do that via Binance or by other means like Pine script or other. I need to know if it's possible and to have some guidance. Many thanks! PS: because most of my topics get 70% offtopic messages, I ticked self-moderated option for this one. Title: Re: Any advance way of setting limit orders? Post by: witcher_sense on January 10, 2022, 07:35:43 AM Hi, I'm on Binance. I want to do the following: Precondition: 0 USDT in account 1 limit sell order set at 40000 BTCUSDT What to do: if (BTC price < 40000 USDT) { set_limit_order("buy", amount) } I would like to do that via Binance or by other means like Pine script or other. I need to know if it's possible and to have some guidance. Many thanks! PS: because most of my topics get 70% offtopic messages, I ticked self-moderated option for this one. As far as I understand, what you want to achieve is that you want to set a specific limit buy order only if the price of bitcoin goes below a certain level. I am not sure how to set it automatically after the fact that bitcoin has reachead a certain price, but you can definitely set such an order beforehand by utilizing a special market order called a stop-limit order. The idea of a stop-limit order is that it allows you to specify a particular price (the stop price) after reaching which your limit order enters the game. For example, you can create a buy order with the following conditions: stop price - 40000$, buy price - 39999$ or lower. This type of order is explained in detail here: https://www.binance.com/en/support/faq/115003372072 Title: Re: Any advance way of setting limit orders? Post by: Oshosondy on January 10, 2022, 07:46:06 AM 1 limit sell order set at 40000 BTCUSDT You mean the price of BTC is higher than $40000, but if the price is less than $40000, you want to sell the BTC and convert it to USDT?What to do: if (BTC price < 40000 USDT) { set_limit_order("buy", amount) } You will have to use stop loss order Place stop price at $40100 or above $40000, limit order price at $40000. If bitcoin price reach $40100, the order will be filled at $40000. You can adjust the limit and stop price but in a way it will not be too tight so that the order will be filled. Read this: https://academy.binance.com/en/articles/what-is-a-stop-limit-order.amp Title: Re: Any advance way of setting limit orders? Post by: btcb3g1nn3r on January 10, 2022, 09:38:12 AM I have 0USDT available in account.
I have running limit SELL order of 10USDT worth BTC at price 40000USDT. If BTC price goes to 38000USDT I want to set BUY limit order of 10USDT at 38000USDT price. How to do this in automatic way? Title: Re: Any advance way of setting limit orders? Post by: noorman0 on January 10, 2022, 10:27:33 AM I have 0USDT available in account. I have running limit SELL order of 10USDT worth BTC at price 40000USDT. If BTC price goes to 38000USDT I want to set BUY limit order of 10USDT at 38000USDT price. How to do this in automatic way? What I remember is that you can't automate your intended orders on Binance unless you activate a trading bot. You have to at least prepare another usdt available to make 2 orders at once. Would you consider another exchange to do this? I've said Kucoin can do some really special things, here (https://bitcointalk.org/index.php?topic=5337018.msg57070145#msg57070145). But still, without bots you should have available balances on both sides. |