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Here is a step-by-step guide and example article on how to create an order in the Binance API using Python:

Creating an Order with a Stop Price in the Binance API

In this article, we will walk you through the process of creating an order with a stop price in the Binance API using Python. We will use the exchange.create_order method, which is part of the Binance API.

Prerequisites:

• You have a Binance API key and a cryptocurrency token pair that you want to trade.

• You have installed the binance-api library using pip:

pip install binance-api

`

• In a file namedmain.pyyou have the following Python code (replacesymbol,side, etc. with your actual values):

import requests
exchange = 'binary'
symbol = 'BTC/USDT' 




Cryptocurrency symbol pair
api_key = 'your_binary_API_key'
api_secret = 'your_secondary_API_secret'
headers = {
'X-MBX-APIKEY': api_key,
'X-MBX-SECRET-PRES': api_secret
}
parameters = {
'symbol': symbol,
'side': 'buy',
'type': 'stop_loss_limit',
'time_in_force': 'gtc', 
can be 'gtc', 'IOC', 'FOK'.
'reduce_only': 'true' 
Reduce position only when stop loss is triggered
}
response = requests.post(f' headers=headers, params=params)
if response.status_code == 200:
order_id = response.json()['id']
print(f'Order ID: {order_id}')
else:
print(f'Order creation failed. Status code: {response.status_code}')

Explanation of the code:

• We first import the requests library, which is used to make HTTP requests.

• We define our Binance API credentials (api_key and api_secret) in the headers dictionary.

• We construct the request parameters (parameters) using exchange, symbol, and other values ​​that we want to include in the order.

• We make a POST request to the Binance API’s /api/v3/order endpoint, passing headers and parameters as arguments. The time_in_force parameter is set to `gtc' (good until canceled) to allow for stop loss orders.

• If the order is successfully created, we extract the order ID from the response JSON and print it.

• We catch any errors that may occur during the request.

Tips and changes:

• Make sure to replace symbol, api_key, and api_secret with your actual values.

• You can customize the time_in_force parameter as needed for your specific use case.

• If you need to cancel an existing order, update the params dictionary to include the updated parameters.

• Be aware of API limits when creating orders (e.g. 100 orders per minute).

• Consider using a try-test block to handle potential errors and exceptions.

I hope this article was helpful!