Closing a Binance Futures Position Using ccxt

Introduction

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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 Binance Futures position using the Python ccxt library.

Prerequisites

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• You have installed the required libraries:

+ ccxt (currencies and exchanges)

+ binance to fetch exchange information

• Make sure you have created an account on Binance and obtained API keys

Code implementation

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import ccxt





Define API keys and other necessary 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 your Binance Futures position."""
position_id = position['id']
exchange = ccxt.binance()
result = exchange.close_position({
'position_id': position_id,
'type': 'close',
'side': 'market'
})
return result

Fetch current balance
position = fetch_position()

Close position using ccxt
pos = [p for p in position if p['symbol'] == exchange_name and p.get('status') == 'open']
if pos:
close_position(pos[0])

Explanation

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• The first function fetch_position() fetches current your account balance using ccxt.binance() library.

• The second function close_position() takes a position object as input and closes it using ccxt.binance() library. The position details can be accessed using the position variable, which contains information about the open or closed position.

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 the latest version of ccxt library.

Example Use Cases

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• Closing an open position to secure profits

• Closing a closed position to open a new one on a different asset

• Reopening a closed position after a market correction

By following this article, you should be able to close positions on Binance Futures using the Python ccxt library. Remember to protect your API keys and update them accordingly.

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