Closing a position on Binance Futures with ccxt
Introduction
—————
As a user of the popular cryptocurrency exchange Binance, managing your positions is crucial to optimizing your trading strategy. In this article, we will show you how to close a position on Binance Futures using the ccxt library in Python.
Prerequisites
—————–
- You have installed the required libraries:
+ ccxt (coins and exchanges)
+ binance to retrieve exchange information
- Make sure you have created a Binance account and obtained your API keys
Code Deployment
———————-
`python
import ccxt
Set API keys and other required parameters
api_key = 'YOUR BINANCE API KEY'
api_secret = 'YOUR BINANCE API SECRET'
exchange_name = 'binance'
def fetch_position():
"""Get current balance."""
exchange = ccxt.binance()
response = exchange.fetch_balance()['info']
return response['positions']
def close_position(position):
"""Close a position on Binance Futures."""
position_id = position['id']
exchange = ccxt.binance()
result = exchange.close_position({
'position_id': position id,
'type': 'close',
'side': 'market'
})
return result
Get current balance
position = get_position()
Close a position using ccxt
pos = [p for p in position if p['symbol'] == exchange_name and p.get('status') == 'open']
if pos:
position_close(pos[0])
`
Explanation
--------------
- The first functionfetch_position()
retrieves your current account balance using theccxt.binance()library.
- The secondclose_position()
function takes a position object as input and closes it using theccxt.binance()library. You can access the position details using thepositionvariable, which contains information about whether the position is open or closed.
Note: Make sure to replace‘YOUR_BINANCE_API_KEY’with your actual Binance API key and‘YOUR_BINANCE_API_SECRET’with your secret API key (not used in this example). Also, make sure you are using a recent version of theccxt` library.
Use Case Examples
——————–
- Closing an open position to lock in profits
- Closing a closed position to open a new one on a different asset
- Reopening a closed position after a market correction
If you follow this article, you should be able to close positions on Binance Futures using the ccxt library in Python. Remember to keep your API keys safe and update them appropriately.
