Cancel Order

Cancels an existing open order on Binance, removing it from the order book.

Common Properties

• Name - The custom name of the node.
• Color - The custom color of the node.
• Delay Before (sec) - Waits in seconds before executing the node.
• Delay After (sec) - Waits in seconds after executing node.
• Continue On Error - Automation will continue regardless of any error. The default value is false.

info

If the ContinueOnError property is true, no error is caught when the project is executed, even if a Catch node is used.

Inputs

• Client Id - The unique identifier from the Connect node (optional if using direct credentials).
• Order ID - The unique identifier of the order to cancel (from the order creation response).
• Currency Pair - The trading pair symbol of the order (e.g., BTCUSDT, ETHUSDT).

Options

• Api Key - (Optional) Binance API key credential. Use if not providing Client Id.
• Secret Key - (Optional) Binance API secret key credential. Use if not providing Client Id.

Output

• Result - Returns true if the order was successfully canceled.

How It Works

The Cancel Order node removes an open order from the Binance order book.

When executed, the node:

1. Retrieves the Binance client (from Client Id or creates one from credentials)
2. Validates the Order ID and Currency Pair inputs
3. Sends a cancel request to Binance for the specified order
4. Returns true if cancellation is successful

Requirements

• Either a Client Id from Connect node OR API credentials in options
• Valid Order ID from a previously created order
• Correct Currency Pair matching the order
• Order must still be open (not already filled or canceled)
• Appropriate API permissions (spot trading enabled)

Error Handling

The node will return specific errors in the following cases:

• ErrInternal - Failed to retrieve input values
• ErrInvalidArg - Empty Currency Pair or invalid Order ID (zero or negative)
• ErrCancelOrder - Cancellation failed (e.g., order already filled, invalid order ID, wrong pair)

Usage Notes

• You can only cancel orders that are still open (not filled or already canceled)
• Provide the exact Order ID received when the order was created
• The Currency Pair must match the original order
• Partially filled orders can be canceled (unfilled portion is canceled)
• You cannot cancel orders from other accounts
• Cancellation is immediate when successful

Order States

Orders can only be canceled in these states:

• NEW - Order is active and open
• PARTIALLY_FILLED - Order is partially executed
• PENDING_CANCEL - Cancellation is in progress

Orders cannot be canceled in these states:

• FILLED - Order is completely executed
• CANCELED - Order is already canceled
• REJECTED - Order was rejected
• EXPIRED - Order has expired

Example: Cancel a Specific Order

Scenario: Cancel a buy order that hasn't filled

Inputs:

• Client Id: (from Connect node)
• Order ID: 123456789 (from Buy Order node result)
• Currency Pair: BTCUSDT

Output: Result: true (order successfully canceled)

Example: Cancel and Replace Strategy

[Get Order: order_id]
    |
    v
[If: order still open after 5 minutes]
    |
    v
[Cancel Order: order_id]
    |
    v
[Get Price: current market price]
    |
    v
[Buy Order: new order at better price]
    |
    v
[Store: new order_id]

Example: Cancel All Open Orders

[Connect]
    |
    v
[List My Orders]
    |
    v
[For Each: order in orders]
    |
    v
[Cancel Order]
    |   Order ID: order.orderId
    |   Currency Pair: order.symbol
    v
[Log: "Canceled order " + order.orderId]
    |
    v
[Disconnect]

Example: Conditional Order Management

[Timer: Every minute]
    |
    v
[Connect]
    |
    v
[Get Order: stored_order_id]
    |
    v
[If: order.status == "NEW" AND time_elapsed > 10_minutes]
    |
    v
[Cancel Order: stored_order_id]
    |
    v
[Send Alert: "Order canceled due to timeout"]
    |
    v
[Disconnect]

When to Cancel Orders

Market Conditions Changed:

• Price moved significantly
• Volatility increased
• News or events occurred

Order Management:

• Order hasn't filled within expected timeframe
• Want to update price
• Strategy changed

Risk Management:

• Reduce exposure
• Exit position planning
• Portfolio rebalancing

Technical Reasons:

• Updating trailing stops
• Replacing with better-priced orders
• System shutdown/restart

Trading Tips

• Store Order IDs: Always save order IDs when creating orders for later cancellation
• Check Status First: Use Get Order to verify order status before canceling
• Handle Errors: Order might fill between your check and cancel attempt
• Batch Cancellations: Use List My Orders to get all open orders before canceling
• Replace Orders: Cancel old order before placing new one to avoid double-fills
• Time Limits: Set time limits for orders and auto-cancel if not filled
• Market Moves: Cancel and replace orders when market moves significantly

Common Errors

• Order not found - Order ID doesn't exist or wrong Currency Pair specified
• Order already filled - Order executed before cancellation request
• Order already canceled - Order was previously canceled
• Invalid order ID - Incorrect or zero order ID provided
• Symbol mismatch - Currency Pair doesn't match the order

Best Practices

• Always save Order IDs when creating orders
• Verify order status with Get Order before attempting cancellation
• Handle cancellation errors gracefully (order might have already filled)
• Use Continue On Error when canceling multiple orders to avoid stopping on filled orders
• Cancel orders before disconnecting or stopping your automation
• Don't assume cancellation succeeded - check the result
• Consider partial fills - canceled orders may have partially executed
• Keep track of which orders you've created to cancel them properly

Order Lifecycle Management

Create Order
    |
    v
Store Order ID
    |
    v
Monitor Order Status
    |
    +---> [If needs cancellation]
    |         |
    |         v
    |     Cancel Order
    |         |
    |         v
    |     Verify Cancellation
    |
    +---> [If filled]
          |
          v
      Process Execution

Partial Fills

If an order is partially filled when you cancel it:

• The filled portion remains executed
• Only the unfilled portion is canceled
• You keep the assets from the filled portion
• The result still returns true

Rate Limiting

• Binance has rate limits on order cancellations
• Avoid canceling and recreating orders too frequently
• Batch cancel operations when possible
• Implement delays between multiple cancellations