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Binance basics

Foundation of a binance bot with websockets

Piraeus West Jr.

1-Minute Read

Bitcoin image


I have been automating my crypto trading to prevent missing nightly lows or highs. You can determine support and resistance programmatically (more on that topic in a future post) and place take profit and stop loss limits on those levels. But a faster and easier way to start your crypto bot is by using the websockets package of Binance.

Use websockets to get ticker data

The advantage of websockets is that your program does not need to poll the webserver constantly, but it gets triggered everytime a change on the server happens. Therefore it is less computationally expensive and potentially more responsive.

Below code snippet is a simple skeleton application that shows the principle:

from binance.client import Client
from binance.enums import *
from binance.exceptions import BinanceAPIException, BinanceOrderException
from binance import ThreadedWebsocketManager

def ticker_handler(message):    
    if msg['e'] != 'error':    
            ticker = msg["s"]  
            value = float(msg['c'])     
            print(f'{ticker}: {value}')

twm = ThreadedWebsocketManager(api_key="", api_secret="")
sts = twm.start_symbol_ticker_socket(callback=ticker_handler, symbol="BTCUSDT")

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