Use of OCO orders instead of profit sell and stop-loss sell orders
uhliksk opened this issue · comments
Is your proposal related to a problem?
If market suddenly drop, bot will sell at market price which will cause sometimes assets is sold at much lower price than stop-loss target because at first bot need to detect price change at next period and then to put market sell order which take again some time.
Describe the solution you'd like
To prevent unexpected loss we can put OCO sell order on Binance which is combination of stop-limit order and limit order at once. This way Binance will automatically sell for high price to make profit and also automatically sell for stop-limit price to prevent loss without any delay.
Describe alternatives you've considered
Alternatively we should place stop-limit sell order as soon as current price is less than last buy price and cancel stop-limit order as soon as price will revert back. This way stop-loss will be processed also without delay and we'll keep current sell for profit strategy intact.
