I agree with Prism. When I used satin fabrics for home dec or church costumes, I would just do a french seam. The next time, though, I will just get that overcast foot for my new Bernina & do an overcast and then turn the edge under once.
I find melting is the quickest & easiest way to seal poly edges and keep them from fraying. Many costume "satins" are either poly or rayon. I've melted 4" poly "satin" ribbon so it should work okay with a wider fabric -- just test first & be sure to keep fingers away from the melting part so it doesn't drip on you & scald you.
My personal favorite satin fabric I've worked with was in the girls' formal dress section at JAF. I did a french seam with it & it was a beast to work with because it just slips all over the place. I used silver clips instead of pins to hold the seams & it took me 4x longer than expected to finish, but I was super happy with the result when I was done. I've got some left that I just found at my parents' house & plan to turn some into a doll dress for my niece's flannel board.