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Stop Loss Order Limitations

Binance

Cryptocoins Exchanges / Binance 70 Views

Hit an uncommon drawback when setting stop loss orders on Binance. For some purpose Binance limits the order worth to a most distance under the current worth (or a mean of x days of the current worth) which is not something I've seen on other exchanges like Gate, Kraken, Bitfinex, Bybit and so forth. 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 less than n'. This worth is simply 10% under the present 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 inform me that I can add suggestions for this situation.

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 policy continues as I exploit stop losses to protect my spot margin liquidation points which is far lower than 10%. Exiting early at 10% shouldn't be part of the strategy and would make my buying and selling costs improve. Does anyone know why this is in place in the first place and whether or not the coverage is long run or just carried out throughout sure market circumstances?

submitted by /u/chainometry
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