Any advance way of setting limit orders?

noorman0

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Quote from: btcb3g1nn3r on January 10, 2022, 04:38:12 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?

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.

But still, without bots you should have available balances on both sides.

btcb3g1nn3r

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Merit: 32

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?

Oshosondy

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Quote from: btcb3g1nn3r on January 09, 2022, 11:43:48 PM

1 limit sell order set at 40000 BTCUSDT

What to do:
if (BTC price < 40000 USDT)
{
set_limit_order("buy", amount)
}

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?

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

witcher_sense

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Quote from: btcb3g1nn3r on January 09, 2022, 11:43:48 PM

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

btcb3g1nn3r

member

Activity: 178

Merit: 32

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.

Topic: Any advance way of setting limit orders? (Read 97 times)