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Stop Loss Order Limitations

Binance

Cryptocoins Exchanges / Binance 85 Views

Hit an unusual drawback when setting cease loss orders on Binance. For some cause Binance limits the order worth to a most distance under the present worth (or a mean of x days of the present worth) which is not one thing I've seen on different exchanges like Gate, Kraken, Bitfinex, Bybit and so on. This distance is tight, like 10%. When making an attempt to add a cease over the online for a coin like NEAR i get an error 'worth can't be lower than n'. This worth is simply 10% under the current worth. Utilizing the API this generates the error: PERCENT_PRICE_BY_SIDE. Contacting Binance help by way of chat, they direct me to the docs and tell me that I can add feedback for this challenge.

I'd thought I'd ask the group to gauge whether or not it's a problem for different users. Personally, I wont be capable of trade on Binance if this coverage continues as I exploit stop losses to guard my spot margin liquidation factors 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 that is in place in the first place and whether or not the policy is long term or simply carried out during sure market circumstances?

submitted by /u/chainometry
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