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Stop Loss Order Limitations

Binance

Cryptocoins Exchanges / Binance 58 Views

Hit an uncommon drawback when setting stop loss orders on Binance. For some purpose Binance limits the order worth to a maximum distance under the present worth (or a mean of x days of the current worth) which isn't one thing I've seen on different exchanges like Gate, Kraken, Bitfinex, Bybit and so forth. This distance is tight, like 10%. When making an attempt to add a stop over the online for a coin like NEAR i get an error 'worth cannot be less than n'. This worth is just 10% under the current worth. Using the API this generates the error: PERCENT_PRICE_BY_SIDE. Contacting Binance help by way of chat, they direct me to the docs and inform me that I can add suggestions for this challenge.

I'd thought I'd ask the group to gauge whether it's an issue for different users. Personally, I wont be capable of commerce on Binance if this coverage continues as I exploit cease losses to guard my spot margin liquidation points which is far decrease than 10%. Exiting early at 10% isn't a part of the strategy and would make my buying and selling costs improve. Does anybody know why this is in place in the first place and whether the policy is long run or simply carried out during certain market circumstances?

submitted by /u/chainometry
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