How to support limit orders on a python bot

Question

I am working on a bot that will swap tokens using python. Currently, my bot uses the dexscreener api to continuously retrieve the current price of the token to determine when to sell. However, this is very slow, and due to price volatility, the price changes by the time the transaction occurs.

Is there a way of supporting limit orders using the solana python API, where I can retrieve accurate price information and sell at that exact price?

From my understanding, most current telegram swap bots support limit orders, how do they do it?

Answer 1

You can look into using an API like Jupiter Swap. The API allows you to create limit orders, swap token and get the current prices of tokens, check out their website for relevant documentation on the API requests.

The API will return an serialized transaction which you will have to decode and then create a versioned transaction from and then you will have to sign it and send it to the blockchain to be executed. Use the solana-py and solders-py libraries.

If you have any more questions or get stuck don't hesitate to respond.