> For the complete documentation index, see [llms.txt](https://docs.symm.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.symm.io/trader-documentation/building-a-trading-bot-1/monitoring-price.md).

# Monitoring Price

The sample trading bot makes decisions based on price movements. Because the asset being traded is hedged with Binance it's appropriate to monitor the price using their endpoints. In our sample, we are executing a basic strategy: longing when price is below or equal to our defined `ENTRY_PRICE` and closing our position when the price is equal or above our `EXIT_PRICE`.

#### Setting Up Price Monitoring

We define entry and exit prices in the configuration:

```python
CONFIG = {
    "SYMBOL": "XRPUSDT",
    "ENTRY_PRICE": "3.05",  # Enter when price falls below this
    "EXIT_PRICE": "3.1",    # Exit when price rises above this
    "QUANTITY": "6",
    # ... other configuration options
}
```

#### Monitoring Loop

The bot continuously monitors the price and compares it to our thresholds:

```python
# Main trading loop
while True:
    # Get current price from Binance
    current_price = get_binance_price(CONFIG["SYMBOL"])
    
    # Check for entry conditions
    if not in_position and current_price <= entry_price:
        # Open a position
        
    # Check for exit conditions
    elif in_position and current_price >= exit_price:
        # Close the position
    
    time.sleep(CONFIG["POLL_INTERVAL"])
```

The `get_binance_price` function fetches the current price from Binance's API:

```python
def get_binance_price(symbol):
    """Get the current price of a symbol from Binance."""
    try:
        params = {"symbol": symbol}
        response = requests.get(BINANCE_API_URL, params=params)
        response.raise_for_status()
        data = response.json()
        price = Decimal(data["price"])
        print(f"[PRICE] Current {symbol} price: {price}")
        return price
    except Exception as e:
        print(f"[ERROR] Failed to get Binance price: {e}")
        return None
```


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