Ethereum: Binance US API STOP-LOSS Transaction Not Executed in Node.js (Node-Binance-US-Api)

As a long-time user of the BinanceUS platform, I am writing this article to share my frustrating experience with the Binance US API stop-loss function. Despite following the documentation and experimenting with various solutions, my node.js application (Node-Binance-US-Api) was unable to execute stop-loss transactions.

Problem

My application is designed to automate trading on BinanceUS using the Node-Binance-US-Api library. The goal was simple: to automatically buy or sell Ethereum at a specified price when the market reaches a certain level, allowing me to lock in profits and avoid potential losses due to price fluctuations. However, after extensive research and testing, I came across an issue that was giving me a hard time.

Documentation

I carefully read the BinanceUS API documentation, which provides a detailed guide on how to use their API. The section on the stop-loss function is clear, with examples of how to use the getOrder method to place orders with specific conditions. However, in my experience, there are fundamental limitations and potential issues that prevent this function from working as intended.

My Research

I have looked through other user forums, Stack Overflow, and Reddit, but none of their solutions seem to solve the exact problem I am experiencing. It is possible that my issue is specific to a particular API or version combination, but without a clear solution it is difficult to pinpoint the exact cause.

Problem

After several attempts, I have found a few possible reasons why stop-loss trades are not executing as expected:

• API Rate Limits: My application may be exceeding the BinanceUS rate limits for stop-loss orders.

• Token Price Changes: The Ethereum token price has fluctuated rapidly in the past, which may have affected the execution of stop-loss trades.

• Market Conditions: My algorithm may be sensitive to market conditions or news events that affect the price of Ethereum.

Solution

To resolve this issue, I recommend:

• Check your API credentials: Double-check your BinanceUS API access key and secret keys to ensure they are correct.

• Check bandwidth limits: Check that you are not exceeding the allowed number of requests per hour for stop-loss orders.

• Monitor market conditions: Monitor the latest price changes and adjust your algorithm accordingly.

• Use a different algorithm: If the built-in BinanceUS API stop-loss functionality is too restrictive or unreliable, consider implementing a custom solution using machine learning or other methods.

Conclusion

While I have had some success using the Binance US API, my experience with stop-loss trading has been frustrating. If you are experiencing similar issues, it may be helpful to look for alternative solutions or consult with the BinanceUS support team. I hope this article helps others experiencing a similar issue and serves as a starting point for troubleshooting.

Edit:

Since my last update, I have made some progress implementing a custom solution that uses machine learning to analyze market conditions and adjust stop-loss levels accordingly. If you are interested in exploring this approach, let me know and we can discuss it further!