In our continuous effort to encourage responsible trading, Binance has launched the "Cooling Period" function for you to disable Futures trading temporarily to prevent compulsive trading behavior. It allows you to take a break and reflect on your trading strategies by temporarily disabling Futures trading features.
What is the purpose of the "Cooling Period" function?
Trading, especially in high-volatility markets, can sometimes lead to impulsive decisions and emotional trading. The cooling period aims to be a self-help tool to enable traders to impose short-term breaks on Futures trading, thus preventing compulsive trading behaviors.
How to activate the "Cooling Period" function?
1. Log in to your Binance account and go to the Futures trading interface. Click the settings icon.
2. Scroll down and click [Cooling Period].
3. Read the description carefully. Toggle on the button next to [Disable Futures Trading Function] to activate a cooling period.
4. Choose the duration of your cooling period and click [Confirm].
What functions are restricted during the cooling period?
Once you enable the cooling period, you’ll lose access to certain trading features, such as USDⓈ-M and COIN-M Futures, Futures Grid, TWAP, and VP across all Binance platforms (website, app, and API).
The default cooling period is one day, but you can also opt for one week or one month. All durations are calculated in your local time.
Specific trading rules during the cooling period
- Open positions: You can initiate the cooling period if you have existing Futures positions. However, you cannot enable it if you have open orders.
- Order placements: While regular new orders are restricted, you can place reduce-only orders during this period.
- Strategy orders: You can place strategy orders provided that they are reduce-only orders.
- Grid/Bots restrictions: If you haven’t set up a grid, you won’t be able to initiate one during the cooling period. However, existing grids can continue to place new orders as per their settings.
- TWAP and VP orders: If you're running TWAP or VP, please make sure no open orders exist. If there are any, you'll need to close them first. In addition, you won't be able to place new orders during the cooling period.
Notes:
- You can select various durations for the cooling period from one day, one week, and one month. All of which are referenced based on your local time. By default, the one-day option is selected. In this case, the cooling period will start when the feature is enabled until 23:59:59 (local time) on the same day. For the one-week duration, the cooling period will be effective when the feature is enabled until 23:59:59 (local time) on D+7. For the one-month duration, the cooling period will be effective when the feature is enabled until 23:59:59 (local time) on M+1.
- Please do not enable this feature when you have open or pending orders.
- Once the cooling period is enabled, it cannot be lifted. All trading features and confirmation buttons will be disabled. Please wait until the cooling period ends.