Which API can I use to include the profit and loss for the cryptocurrency that a user purchased or set the profit and loss via an application by user?

[akashc-25]

Let‘s imagine a customer needs to purchase one crypto for $100 with a 10% profit set. Once the crypto reaches that profit, in this case, $110, it will automatically sell. So, is there an API that accomplishes this?

I found this API "/spot/price_orders" (https://www.gate.io/docs/developers/apiv4/en/#create-a-price-triggered-order) but in this API Expiration time is required but Profit can be made at any time so. And in my view, we use this API for stop-limit purposes rather than stop-loss purposes.

[revilwang]

For now, you need to call POST /spot/orders to buy the crypto in $100, then call POST /spot/price_orders to set a rule to sell your crypto when it reaches $110, like the following:

POST /spot/orders

{
  "side": "buy",
  "price": "100",
  # any other parameters for creating the buy order 
}

POST /spot/price_orders

{
  "trigger": {
    "price": "110",
    "rule": ">=",
    "expiration": 2592000
  },
  "put": {
    "side": "sell",
    "price": "110",
    # any other parameters to create the sell order when condition is triggered.
  }
}

Note the expiration is required. And you have to set it between 60s and 30 days. Unlimited time is not supported at the momoent.

[akashc-25]

Okay, if I don't want to use the "POST /spot/price orders" API, can I make all the calculations in the backend and then call the "POST /spot/orders" API to sell the order once the crypto amount has reached to the profit amount? Is this a valid/acceptable way? I need your opinion on this.

[revilwang]

Sure, actually /spot/price_orders follow the same logic.

[akashc-25]

Okay, I appreciate your response, @revilwang.

[akashc-25]

@revilwang, As you said before that need to call two APIs. One for creating Orders and another for setting price triggers, but Can you please tell me how can I set the price trigger for only newly created Orders if I use the Create Order API, as "/spot/price orders" does not take the order id as a parameter? So how can I set the price triggered for particular order/crypto?

[akashc-25]

@revilwang, Please correct me if I'm incorrect if I am.

[revilwang]

They are not connected. The /spot/price_orders can only create new orders on condition triggered

[akashc-25]

Okay, I can create the order with a trigger price using the /spot/price orders API(By using a single API). Correct? Additionally, is it possible to give two conditions to this API for the Buy amount and Sell amount triggers?

POST /spot/price_orders

{ "trigger": { "price": "110", "rule": ">=", "expiration": 2592000 }, "trigger": { "price": "90", "rule": "<=", "expiration": 2592000 }, "put": { "side": "sell", "price": "110",

any other parameters to create the sell order when condition is triggered.

} }

Like Above?

[revilwang]

For the first question, like what I mentioned above, you need to create your $100 buy orders with /spot/orders and set a $110 sell trigger with /spot/price_orders. The latter one will only create your trigger order on condition matched. You have to create the initial order by yourself using /spot/orders.

Second question, using one request, no. But you can create two price orders with different conditions to achieve the same thing except you have to associate the two orders manually.

[akashc-25]

To continue the above discussion, I am using the POST /spot/orders API to create the Order, however, I'm not sure what to pass for the "amount" and "order price" arguments.

What value should I give to the amount and order price parameters if I wish to buy 10 qty of the ALEPH USDT crypto at its most recent price of $5.00?

[akashc-25]

Can anyone please help me with my previous question?

[revilwang]

If you mean buy 10 ALEPH with price 5 USDT, then set your order like Order(currency_pair="ALEPH_USDT", side="buy", amount="10", price="5")

[akashc-25]

Okay, So can I pass my custom price in the price parameter, So if I want to Buy ALEPH_USDT with 10 qty with the price of 100(This 100 amount is given by the end user, not the last/recent price of the crypto). So Is this possible, Yes then what do Order class attributes look like?

[revilwang]

Yes, you can set price to any price you wish to, if your minimum order amount is satisfied.