Adjusting Open Position Size via Binance API without Closing Position

As a Python developer working with the Binance API, you are probably familiar with managing open positions in trading bots. In this article, we will explore how you can adjust your open position size using the Binance API without closing the position.

Position Sizes

Before diving into adjusting position sizes, let’s understand how they work:

• Position Size refers to the amount of cryptocurrency (e.g. Ether or Bitcoin) you are willing to risk on a trade.

• Trade Size is the actual amount of cryptocurrency being traded in a trade.

• Position Size per Trade Size Ratio

  

  determines the proportion of the trade size that goes towards the position size.

For instance, if your initial position size is 100 ETH and the trade size ratio is 1:10, you will risk 10 ETH on each trade, resulting in a total trade size of 100 ETH.

Adjusting the size of an open position via the Binance API

If you want to adjust the size of an open position without closing it, we can use the positions.update() method to modify an existing position. Here is an example Python code snippet that shows how to do this:

importance





Initialize the Binance API client
api = binance.client.create_api()

Replace with your API credentials and secret key
client_id = "YOUR_CLIENT_ID"
client_secret = "YOUR_CLIENT_SECRET"

Set the position size to a float between 0 and
position_size = 20.0

Get the current open positions
open_positions = api.get_open_positions()

Iterate through each open position
open_positions:

Check if the position is active (i.e. not closed)
if position.status == "ACTIVE":

Update the position size using the Binance API
client_id = "YOUR_CLIENT_ID"
client_secret = "YOUR_CLIENT_SECRET"
apipositions.update(position.id, {"position_size": round(position_size * 100)})

Print a success message to confirm the updated positions
print("Open positions updated successfully!")

In this code snippet:

• We initialize the Binance API client with your credentials and secret key.

• We set the initial position size to a float between 0 and 100.

• We get the current open positions using the get_open_positions() method.

• We iterate over each open position and check if it is active (i.e. not closed).

• If an active position is found, we update its position size by calling the update() method with the new value of the specified position_size parameter.

Tips and Variations

• Avoid closing positions without updating their size by checking active positions before making changes.

• You can also use the positions.update() method with additional parameters such as limit_price, stop_loss_price or take_profit_price, depending on your trading strategy.

• Remember that you should only update an open position if it is still active and not closed. If a position is closed, updating its size will have no effect.

By following this article and adapting the code snippet to your needs, you can effectively adjust the size of an open position via the Binance API without closing positions. Happy trading!