Python Script for Opening and Closing Positions in Alpaca

open_close_positions.py

import time
from alpaca_trade_api.rest import REST

# Set your Alpaca API credentials
ALPACA_API_KEY = 'PK1BN6P47Q9J5GMPJSXY'
ALPACA_SECRET_KEY = 'k1sXSgCkrpWSqQ3wyuKqwMT9H7q3hFLEAiVL0lif'
ALPACA_BASE_URL = 'https://paper-api.alpaca.markets'

# Initialize the Alpaca API
api = REST(ALPACA_API_KEY, ALPACA_SECRET_KEY, base_url=ALPACA_BASE_URL)

# 1. Placing an Order
def place_order(symbol, qty, side):
    try:
        order = api.submit_order(
            symbol=symbol,  # Symbol with '/'
            qty=qty,  # Quantity
            side=side,  # "buy" or "sell"
            type="market",
            time_in_force="gtc"
        )
        print(f"Order submitted successfully: {order}")
        return order
    except Exception as e:
        print(f"Error placing order: {e}")
        return None

# 2. Monitoring the Order
def monitor_order(order_id):
    retries = 5
    delay = 2  # seconds

    for attempt in range(retries):
        try:
            order_status = api.get_order(order_id)
            print("Order status:", order_status)
            return order_status
        except Exception as e:
            print(f"Error monitoring order, attempt {attempt + 1}: {e}")
            time.sleep(delay)  # Wait before trying again
    
    print("Failed to retrieve the order status after several attempts.")
    return None

# 3. Query BTC Balance
def get_available_balance(symbol):
    time.sleep(2)  # Add a delay to allow positions to update
    try:
        positions = api.list_positions()

        # Check both formats of the symbol
        for position in positions:
            if position.symbol == symbol or position.symbol.replace('/', '') == symbol.replace('/', ''):
                return float(position.qty)
        
        print(f"No positions found for {symbol}.")
        return 0.0

    except Exception as e:
        print(f"Error retrieving balance: {e}")
        return 0.0

# 4. Closing the Order
def close_order(symbol):
    try:
        available_qty = get_available_balance(symbol)
        if available_qty > 0:
            close_order = api.submit_order(
                symbol=symbol,  # Symbol with '/'
                qty=available_qty,  # Sell only the available quantity
                side="sell",
                type="market",
                time_in_force="gtc"
            )
            print("Close order submitted:", close_order)
            return close_order
        else:
            print("No available balance to sell.")
            return None
    except Exception as e:
        print("Error closing order:", e)
        return None

# Execute the workflow
if __name__ == "__main__":
    symbol = "BTC/USD"
    qty = 0.001  # Example quantity to buy

    print("Placing order...")
    placed_order = place_order(symbol, qty, "buy")

    if placed_order:
        print("\nMonitoring order...")
        monitored_order = monitor_order(placed_order.id)  # Use the order's unique ID

        if monitored_order:
            print("\nClosing order...")
            closed_order = close_order(symbol)

This Python script interacts with the Alpaca trading API to automate the process of opening and closing a position in cryptocurrency trading.

Key Steps:
Place an Order: Submits a market buy order for a specified cryptocurrency (e.g., BTC/USD).
Monitor the Order: Checks and confirms when the buy order has been filled.
Query Balance: Retrieves the available balance of the purchased cryptocurrency after the buy order is filled.
Close the Position: Submits a market sell order to close the position using the exact available balance, ensuring no errors due to insufficient funds.