I can provide you with an example of how you could implement this functionality in Python using the Binance API.
Note: Before running the code, make sure you have the following:
- A Binance account with sufficient funds and a valid API key.
- The
binance-apilibrary installed (pip install binance-api).
- A basic understanding of Python and its ecosystem.
Here is an example of a function that places a future order with target and stop loss:
import binance
def place_future_order(symbol, side, quantity, target_price, stop_loss_price):

Set up API credentialsclient = binance.Client(api_key='YOUR_API_KEY', api_secret='YOUR_API_SECRET')
Create an order objectorder = {
'symbol': symbol,
'side': side,
'type': 'limit',
'position_size': quantity,
'leverage': 100,
adjust as needed'time_in_force': 'gtc',
fill the market'stop_price': stop_loss_price if stop_loss_price else None,
'stop_type': 'fixed_stop',
}
Place the ordertry:
result = client.place_order(order)
print(f"Order past successful: {result}")
except Exception as e:
print(f"Error putting order: {e}")
Example usage:symbol = "BTCUSDT"
side = "buy"
buy or sellquantity = 0.1
10% of the contract sizetarget_price = 40000
target price to hit the stop lossstop_loss_price = 39000
stop loss price to trigger the orderplace_future_order(symbol, side, quantity, target_price, stop_loss_price)
This code assumes that you have a valid Binance API key and secret. You can get them by creating an account on the Binance website.
Here’s what the code does:
- Sets up an instance of the
binance.Clientclass with your API credentials.
- Creates an order object with the specified parameters: symbol, side (buy or sell), quantity, target price, and stop loss price.
- Places the order using the
place_order()method on the client instance.
- Catches any exceptions that may occur during execution.
Important Notes:
- Make sure to adjust the
leverageparameter according to your trading strategy requirements.
- The
stop_typeparameter can be set to'fixed_stop','stop_loss', or'limit_order'. We're using‘fixed_stop’here for simplicity.
- This code assumes that you have a valid order in place before placing the new one. If an error occurs while trying to place the new order, it will cancel the existing order.
Example use cases:
- To test the function, simply callplace_future_order()
with the desired parameters.
- To place multiple orders at once, you can create a list of orders and pass it to theplace_order()` method.