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How do I take profits?
How do I take profits?

The easiest method on how to take profits.

Updated over a week ago

Wealthybot will reinvest your profits until you choose to stop this process. The methods below will allow you to pause trading until you reach the amount in USDT in your exchange that you would like to take profit from. Keep in mind Wealthybot will need time to close positions in profit that are currently open in your exchange before this amount is reached for you to collect. Once you see the desired amount in USDT you can remove the reserve and/or switch Wealthybot traders back on. Be sure to remove this profit from your exchange before reactivating Wealthybot.

Method 1 - Setting a Reserve - Easiest Method

With this method you will set a "reserve" at the exchange level. Whatever amount you wish to eventually collect it will be entered here once collected you need to uncheck this option and remove the reserve. Read the entire article here

Method 2 - Throttling Traders - Some Difficulty

  1. Determine how much profit you would like to take. You can look at your profits column on your dashboard to determine this. (see figure a.)

  2. Set your active traders to the settings found at this link in order to allow them to begin closing all active positions after they meet your preset profit criteria. They will not open any new positions with these settings. Important Note: This stands for 1 USDT if the coin your trader is set to is trading for less than 1 USDT you will need to set this field lower i.e. 0.20

  3. Once positions begin to close you will see your profits in the form of USDT in your exchange.

  4. Move these profits out of your exchange into a cold wallet or at least into another stable coin or cryptocurrency instead of USDT. You cannot keep your profits inside of the exchange in the form of USDT because all USDT in your exchange is utilized by Wealthybot. You can send USDT directly to an Ethereum wallet in Metamask of any other software wallet.

  5. Once satisfied with the amount of profit you would like to take uncheck the “stop purchase at a certain rate checkbox and your trader will begin looking for position and purchasing again. Please allow up to 24 hours for deactivated traders to activate.

(Figure a.) The Profit Column of the Wealthybot dashboard.

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