Review this guide for more information on how to apply your personal strategy settings when following a Signal Provider:
In this Article:
- Entry & Exit Price Deviation
- Entry Order Expiration
- Time-Based Autoclose
- Stop Loss
- Trailing Stop
- Take Profit
- DCA-ReBuys Targets
- Max Concurrent Positions
- Minimum Volume
- Limit Positions per Market
The percentage specified in this option will be applied to the suggested price from the signal (or the price when the signal arrived if none was recommended), to calculate your limit price.
For example, if we receive a signal for the MANA/BTC market, and the MANA price is 0.00001519, if our Buy Price Deviation is 2%, this means we'll place a buying order in the exchange with a limit price of 0.00001549. If your Buy Price Deviation has been -2%, then the limit price would have been 0.00001488.
The max time (in minutes) that the system will wait for the buying order to complete. If after this time has elapsed, the position is not filled, it will be removed from the exchange and closed. If the position has been partially filled and the amount filled is above the minimum operational amount, then the buying order will be removed, but the position will operate with the partially filled amount.
If after this time (in hours) if the position is still open, then it will be closed at the current market price. The time-based auto close won't work if a target from the take profit has been filled or if the trailing stop is active.
This option will help you to limit your losses if the market goes in the opposite direction to what you thought. If the price falls, from your average buying price to this percentage, then the position will be closed with a market order. Note: Because we are using a market order for the stop loss, the final selling price could be below your defined stop-loss threshold.
It uses two parameters, the trigger, which will determine when the trailing-stop will start, and the distance, which is the distance between the higher price and the current price. If the price falls below this distance, then a market sell order will be placed, and the position will be closed at the current market price. Note: Because we are using a market order for the stop loss, the final selling price could be below your defined stop-loss threshold.
These are your goals for taking profits. You can add as many targets as you wish and each one has two parameters: % (target), the percentage over your average buying price at what you will sell, and the quantity, it can be expressed on percentage too (percentage from your position size) or in absolute value. Each target quantity has to be bigger or equal to the minimum amount required by the invested coin.
Take-profits orders are placed on the exchange as soon as the buy order has been filled to guarantee that it will be sold even if it's a small pump.
These are your goals for enlarging your position size if the price falls, this will lower your dollar cost average (average entry price) for the pair. You can add as many targets as you wish, but you have to be sure that your balance will support it.
Each target has two parameters: Target, in percentage, which is the percentage above the average buying price at which you will buy again, and Quantity, also in percentage, which is the percentage from your current position size that you will add with this new buy.
The target is calculated over the average buying price and the position size over the total position size (the sum of all your investments so far).
Check the following example for a better understanding of how it works: Market WAVES/BTC Current WAVES price 0.00052030 Position Size: 0.01 BTC DCA/ReBuy targets: 1. Target: -3%, Quantity: 100% 2. Target: -5%, Quantity: 100% 3. Target: -5%, Quantity: 100%
The first target price would be 0.00052030 - 3% = 0.000504691 If the price reaches that amount, a limit buying order with a price limit of 0.000504691 will be sent to the exchange to buy 0.01BTC. After the order is filled, the average buying price is recalculated, also the position size: Average buying price = (0.00052030 + 0.000504691) / 2 = 0.000512496
The formula is simplified because the invested amount is the same, but the original formula has it into consideration.
New Position Size: 0.02 BTC.
If we have stop-loss, take-profits, and trailing stop, all of them will be recalculated with the new average buying price.
For the next DCA/Rebuy target to be triggered, the price needs to fall 5% below the new average buying price: 0.000512496 - 5% = 0.000486871
Again everything would be recalculated, and the new average buying price would be 0.000499683.
And finally, if the price reaches 0.000499683 - 5% the final target will be triggered, and a new buy order will be sent at 0.000474699, lowering our average buying price to 0.000487191.
With this new price, 0.000487191, we could exit our position with a price below our original buying price (0.00052030) and still be profitable.
The original DCA strategy counts on doubling your current investment, so you should choose 100% in all your target quantities if you want to follow it.
- Keep in mind when you apply DCA orders to your position, & have set a stop loss, your stop loss will not activate until all of your DCAs have been filled.
Stop loss (or any trigger) is based on the average entry price. Each time there is a new entry order (DCAs are entry orders), the average is re-calculated. A Stop Loss will not be applied until all DCAs are completed.
If you want to limit the amount of concurrent opened positions that you want to have at any given time, you can select here the desired amount.
Don't open a position for a market with less than this value (in BTC) in the last 24 hours.
The maximum amount of concurrent positions per market pair. If, for example, you select two, you only could have two parallel opened positions for any given pair.
It only accepts full symbols, for example: BTCUSDT, ETHBTC, XRPBNB and it has to be comma-separated. If after setting up your list, they disappear, it means the format wasn't valid because the full symbols weren't found.
It only accepts full symbols, for example, BTCUSDT, ETHBTC, XRPBNB, and it has to be comma-separated.
If after setting up your list, they disappear, it means the format wasn't valid because the full symbols weren't found.
Only signals for symbols inside this list will be accepted.