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Stop Loss Order Limitations

Binance

Cryptocoins Exchanges / Binance 26 Views

Hit an unusual drawback when setting stop 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 something I've seen on other exchanges like Gate, Kraken, Bitfinex, Bybit and so on. This distance is tight, like 10%. When making an attempt so as to add a stop 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. Using 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 it's a problem for different customers. Personally, I wont have the ability to trade on Binance if this coverage continues as I exploit stop losses to guard my spot margin liquidation points which is far lower than 10%. Exiting early at 10% isn't part of the technique and would make my buying and selling costs improve. Does anybody know why this is in place in the first place and whether the policy is long term or just carried out throughout sure market circumstances?

submitted by /u/chainometry
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