Edit Trader
Name
Give your trader a name. This name is used by the dashboard in your overviews.
Exchange
Choose the exchange to which you want to link the trader.
Market
Choose the currency the trader should trade with.
Trading strategy
Choose the strategy to follow:
Wealthybot strategy follows a price trend (MACD) and only makes a purchase if the price trend turns from falling to rising. The strategy only sells when the price trend reverses from rising to falling. Wealthybot strategy trades with candles of 15 minutes, which means that a buying or selling moment can only be generated once every 15 minutes.
Updown strategy trades with 1 minute candles and does not follow a price trend calculation. A rate is determined every minute. If this price is higher than the previous minute, then it is a buying moment. If the price is lower than the previous minute, it is a selling moment. The other trader settings determine whether there is really buying or
selling.
Buying
Minimum percentage between trades
This setting indicates how much exchange rate difference there should be between the individual purchases. Simulations show that a high percentage (default setting = 6%) prevents unnecessarily many positions being taken in a declining market. In a sideways and rising market, that high percentage has no adverse effect.
Stop purchases above
If you do not want to buy above a certain price, enter the price ceiling here. How do you do that: In preparation, you look at the current price and the historical price development of the crypto currency in question. If YOUR expectation is or you have the feeling that the price of, for example, Bitcoin above a certain amount is a one-time peak, then you do not want the trader to buy positions if the price rises to that level. You then specify a price ceiling of 3% below that as a price ceiling. If your return is now set lower than 3%, the trader will always sell his last purchase at such a peak price and you have maximum return. That is the theory behind the ceiling price.
Average purchase amount
Normally the trader buys 18% of your free USDT balance as a position. If you have 1,000 USDT available, the first purchase is therefore 180 USDT. If you think these amounts are too high or too low, you can enter the desired amount here that the trader is allowed to purchase. For example 200 USDT. The trader then always buys equal amounts of 200 USDT. The minimum transaction size is 25 USDT.
Maximum open purchases
You can specify per trader that a maximum number of positions may be open for the relevant coin. In combination with the average purchase amount, you can therefore set a precise limit on how much money you want to invest per coin. You can also use this option to instruct the trader to sell a coin 'empty' without making new purchases by entering a 'zero'. The trader will still sell, but will no longer make new purchases.
Selling
Minimum profit percentage The trader uses this percentage to judge when to sell a position. If a sell signal is generated from the chosen strategy, each trader individually checks whether the signal applies to him. This percentage must therefore be high enough to make a profit. If you enter 5%, the trader will make relatively few trades. After all, price fluctuations of 5% are less frequent. If you enter 1% here, you will benefit from a larger volume of transactions and you may even have a better total return. Keep in mind that almost all exchanges charge 0.25% buying and 0.25% selling costs. So that means that you only really make a profit from a return percentage of 0.5%.
Profit strategy (coming soon) You can choose between "Reinvest" and "HODL" here
Reinvest means that if your position is sold, the full amount will be returned to your USDT balance and will be used again to take up new positions. HODL means that when the position is sold, only the original purchase amount is converted into USDT. The profit on the position remains in the cryptocurrency.
Stop loss percentage (coming soon) The stop loss function is a kind of emergency brake. Here you enter the percentage of loss at which you no longer want to hold the position. Once the negative return on the position reaches this percentage, the trader takes a loss and sells the position. Note: We provide this feature because users request it. In all tests on historical data (up to 12 months ago), this function ensures a much lower profitability, and often even a loss on your total investment.