Ethereum Trading Robot Using Binance API: Precision Error

As a successful Ethereum trading robot running on ADAUSDT, I am excited to share with you some news about how we manage our trades. In this article, I will explain the steps taken to resolve a precision error that occurred while trading via the Binance API.

Error: Resource Precision Too High

While trading with our robot, we encountered a significant issue where the Precision parameter was set too high for the asset being traded. Specifically, we were using ADAUSDT (ADA/USDT) and dynamically dividing the initial amount of USDT between buy and sell.

The error message we received from the Binance API indicated that the resource precision was too high, which is a common issue when dealing with financial data with large decimals. In this case, it appeared that we were trying to trade at a precision that was not possible with the current configuration.

Precision Error Resolution

To resolve this error, we performed the following steps:

• Check API Documentation: Before making any code changes, we consulted Binance’s official documentation to verify how the Precision parameter works for each asset.

• Adjust API Parameters: We have reduced the precision of the “Precision” parameter from 6 decimal places to 5 decimal places, which is the default setting for many Binance financial assets.

• Update Code Changes

  : After implementing the updated API settings, we made several code changes to comply with the new precision level.

Example Code Changes

Here are some sample code snippets that show how to update API parameters and make the necessary changes to the bot:

import requests





Set API endpoint and authentication headers
api_endpoint = "
auth_headers = {"api_key": "your_api_key", "api_secret": "your_api_secret"}

Update precision parameter
def update_precision():
params = {
"params": ["Precision"],
"paramType": "query",
"paramsString": "Precision=5"
}
response = requests.post(api_endpoint, auth=headers, json=params)
if response.statuscode == 200:
print ("Precision updated successfully")
else:
print(f"Error updating precision: {response.text}")

Update bot code

After confirming that our API parameters were updated correctly, we made a few changes to the bot code to reflect these changes. In particular, we added a new function “update_precision()” that updates the “Precision” parameter and calls it from the trading logic.

import requests

Set API endpoint and authentication headers
api_endpoint = "
auth_headers = {"api_key": "your_api_key", "api_secret": "your_api_secret"}
def update_precision():
params = {
"params": ["Precision"],
"paramType": "query",
"paramsString": "Precision=5"
}
response = requests.post(api_endpoint, auth=headers, json=params)
if response.statuscode == 200:

Update robot parameters based on API call
precision = int(response.json()["result"][0])
print(f"Updated precision to {precision}")
else:
print(f"Error updating precision: {response.text}")
def trading_logic():

Other trading logic goes here
override
update_precision()
Trading_logic()

After these steps and the update, we were able to resolve the precision error we were encountering when trading via the Binance API. Our robot is now running with the correct precision settings for the ADAUSDT asset, allowing us to execute precise trades in our live markets.

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