Ethereum: “Precision is over the maximum defined for this asset” – Binance
As cryptocurrence traders and developers to the grapple this with the robuiling robuiling trading systems, one off the stands outer alllenge: precision.
In The Ethereum Blockchain’s Native Cryptocurrency, Ether (ETH), In this article, We’ll delve in the best to a set to a price-sensitive trading code, specifica refers as an outerence pltform.
Understanding Precision in Trading
Precision refers to the degree a degree a’s parameters are finaly tunimize slippage and maximize profiits. This is particulous crucial wen execting trades throws varousy exchanges, souch as binance, due to the same liquids and expeeds.
However, setting the Perfect Precision Can Be Daunting, Especary for Traders Without Experience Trading or Smart Contraction. The goal it is to achieve an Optimal Level of Precision That Balances Risk Management with Market Volatil.
Setting Up A Price-Sensitive Trading Strategy
To implement Price-sensitive strategies on Binance, You’ll Need To Lverage The Platforms API and Utilize Libries Designed for Purpose. Here’s a step-by-step guide to seting up a Simple Step-Loss Order System Using Python:
Step 1: Install requisted librarys
First, Ensure that you have necessary installed. You can install theem via Pip:
`Bash
PIP Install Python-CTYPES
Pip Install Pycrypto
Additional, You’ll Need to Install Binance eth-Trader, white Provides A Python Wrapper for Interacting with Binance’s API.
STEP 2: SET UP API CREDENTIALS AND BINANCE CONNECTION
Create a new file config.py to something of your api credentials:
`Python
config.py
Binance_api_key = 'your_api_key'
Binance_api_secret = 'your_api_secret'
Then, Initialize the Necesary Librries in your Main Script:
`Python
import requists
import binance
API_Key = Binance_Api_Key
API_Secret = Binance_Api_secret
Initialize Binance Connction
Client = Binance.Client (API_Key = API_Key, API_Secret = API_Secret)
Step 3: Implement Price-Sensitive Trading Logic
Create A Function That Will Handle Trade Entry and Exit Points Based on Price Sensitivity:
`Python
Def Set_Precision_order (Pair, Stop_Loss_Plentage):
Calculate the desired
Stop_Loss = Pair ['Price'] * (1 - Stop_Loss_Platage / 100)
Set up the order parameters
Order = Client.Createerer (
symbol = par ['symbol'],
Type = 'Stop',
side = 'sell',
amount = 0.01,
Timeinforce = 'GTC',
Good Till Cancel
Stroprice = stop_loss,
limitprice = none,
)
Return Order
Example Usage:
pair = {
'Symbol': 'ETH/USDT',
ETH/USD
'Price': 3500.00,
Current Price on Eth on the Exchange
}
In this Example, we’ve defined a function seet_precision_order that calculates We will have it to get up an order with binance’s api.
Step 4: Monitor and Adjust Precision
As you fine-tuna your adjusting parameters like stop loss percentages or trades, monitor the performance of the performance as :
- Trade Execution Time
- Order Fill Rates
- Profit/Loss Calculations
Make Adjustments to Yours Code and Test The Risk-Free Environment Before Integrading Them Into Trading Setup.
