Closing a short or long position in binance futures: a step-by-step guide
Are you tired of receiving notifications when your position is being closed on Binance futures? Do you want to avoid unnecessary orders being placed by the market makers and other traders? C. In this article, we’ll walk you through the process of closing a new order.
Prerequisites
Before You Begin, Make Sure You Have The Following:
- Binance api access :
2.
.
Step-by-Step Instructions
Generating a new order:
- Get your position details
: use the
positionary to retails:
python
Shortqty = Float (Positions ['Origqty'])
- .
.
`python
order = client.futures.create_ORDER (
symbol = binance_futures_symbol,
side = 'close',
Type = Binance_futures_ORDER_TYPE,
quantity = shortqty,
Expiration = None
Optional: Set The Expiration Time (in Seconds)
)
Note that setting expiration is optional and only applies when using a specific order type. If you don’t set it, the position will close immediately.
- Verify the order : use the
client.futures.get_order_idmethod to check if the closing order was successful:
`python
order_id = client.futures.get_order_id (order ['id'])
print (order_id)
Closing and Long Position
Generating and replace, using the same steps and replace shortqty with the quantity you want to sell (i.e., the market value).
`python
Longqty = Float (Positions ['Origqty'])
order = client.futures.create_ORDER (
symbol = binance_futures_symbol,
side = 'close',
Type = Binance_futures_ORDER_TYPE,
Quantity = Longqty,
Expiration = None
Optional: Set The Expiration Time (in Seconds)
)
Verify the Order
order_id = client.futures.get_order_id (order ['id'])
print (order_id)
Important Notes
- When closing a position, It is also possible for other traders to close their positions as well.
.
- Always verify the order details before proceeding.
Binance futures without generating new orders. Remember to stay vigilant and monitor your positions close to ensure they remain in your favor.