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Ethereum: Python Binance Market Order Issues

As a trader, it is imperative that you ensure that your algorithms execute trades accurately and reliably. However, I have encountered an issue with my existing model that prevents me from sending buy and sell orders through Binance using Python. In this article, I explain the issue and offer possible solutions.

The Issue

My algorithm is designed to automatically place market orders on Ethereum exchanges like Binance. The following code snippet shows a simple example of how it works:

import time
def place_market_order(order_type, page):
url = f"
parameters = {
"symbol": exchange_symbol,
"interval": "1m",
"limit": 100
}
try:
response = requests.get(url, header={"Content-Type": "application/json"}, parameters=parameters)
data = response.json()
if order_type == "buy":
in range i(len(data)):
if data[i]["close"] > price and page == "purchase":





Place a market buy order
order_id = data[i]["id"]
trade_id = order_type(order_id, symbol, page)
print(f"Order successfully placed: order_id - {trade_id}")
elif order_type == "sale":
in range i(len(data)):
if data[i]["close"] < price and page == "sale":

Submit a market sell order
order_id = data[i]["id"]
trade_id = order_type(order_id, symbol, page)
print(f"Order successfully placed: order_id - {trade_id}")
except requests.exceptions.RequestException as follows:
print(f"Request exception: {e}")
def order_type(order_id, symbol, page):

Simulate an order
time.sleep(1) 
Delay trade execution simulate
Return order ID
Exchange symbol = "ETH-BTC"
Price = 2000.0 
Current price of the asset
side = "buy" 
Buy or sell

Enter buy and sell orders on the market
place_market_order("buy", side)
place_market_order("sell", side)

In this code snippet, we send a GET request to the Binance API to retrieve historical market data for Ethereum. We then iterate over the retrieved data and place trades using our place_order function, which simulates the order placement with a one-second pause.

The Problem

However, I noticed a problem with this code snippet. The problem arises when multiple orders are executed simultaneously or at short intervals (e.g. every millisecond). This can lead to:

• Overlapping trades: Multiple orders can be placed at the same time, which can result in duplicate trades being executed.

• Order queuing: Orders get stuck in an infinite loop if they are not immediately executed or cancelled.

To fix this problem, I recommend implementing the following solutions:

• Batch placement: Instead of placing individual orders every millisecond, group multiple orders together at a specific interval (e.g. every 10 milliseconds). This will reduce the number of requests made to the API.

• Order priority: Uses order priority logic to ensure that high priority orders are executed first. This reduces the likelihood of overlapping transactions or order queuing.

Conclusion

To resolve my issues with Python market orders on Binance and avoid similar problems in the future, I plan to implement batch placement and order prioritization using Python. This will reduce the risk of overlaps, queues, and other common issues that can arise from executing multiple orders at the same time or in close intervals.