[BUG/FR] Use 'STOP' order when 'Open Position' below Market price

API Futures API
1

[WebUI]
Currently in Hedge mode, when opening a position (as Stop Limit) below Market price, it places a TAKE_PROFIT order, which doesn’t make sense (imo).

[API]
Unless there’s any consequences (which, I don’t see any), this is very inconvenient for a client, as they’ve to check the market price beforehand and adjust their order type.

I hope, devs understand this behavior and fixes it accordingly. Thanks!

Note: Initially I referred to LONG position. Same goes for SHORT position (above Market price) as well.

2

For the conditions of stop loss and take profit orders, please find the details from there:

https://www.binance.com/en/support/faq/360040016512

Hope it will be helpful.

3

Thanks but, that’s not what I’m asking for! I very well know about all the conditions.

What I was saying is, the way you guys are doing it… is wrong! Here, I’m OPENING A POSITON not closing. So, there shouldn’t be any question about stop-loss or take-profit.
I guess, you guys programmed that way for One-Way mode, which kinda make sense. But, this doesn’t make sense in Hedge mode.

Hope you’ll understand :slight_smile:

4

Sorry I get confused here. So are you asking,

in Hedge mode, when stopPrice < (market price | current price) for opening a long position, It should NOT be a take profit limit order? obviously there are many conditions here.

5

@dino Exactly. It should be STOP (Stop Limit) order in both direction (above or below current price, for long/short position).

In one-way mode, opening a new position closes the other open position in opposite direction (even with reduce-only unchecked). So, in that case, placing order as Take Profit makes sense.

But in Hedge mode, that’s not the case and I don’t see any reason enforcing it that way.

6

thank you I will see how’s team thinking on this.