Customize Advanced Bitsgap DCA Bot Settings
This article will walk you through how to adjust the settings of your DCA Bot using the options available in the "Manual adjustment" menu. Whether you’re fine-tuning your bot’s risk management or optimizing your investment strategy, these steps will help you create a personalized approach for your trading needs.
Overview
Watch Our Quick Video Guide: Mastering Bitsgap's DCA Bot: Setup and Strategy Guide | Crypto Trading Series [Part 3]
Bot Settings
Configuring Your DCA Bot's Start Conditions
When setting up your DCA Bot, the “Manual adjustment” section provides options to customize your bot’s settings to align with your trading strategy. The settings you choose here will define how the bot enters the market, the type of orders it places, and how it handles risk
Bot Start Conditions
How the Bot Enters the Trade
Choose how the DCA Bot will begin its operations:
- Immediately: The bot enters the market as soon as all settings are filled. The position opens instantly with all DCA orders.
- By Indicator Signal: The bot waits for a signal from the selected indicator(s) before entering the trade.
Tip: You can select up to six indicators at once, and the bot will start the cycle based on the sum of their signals over the selected timeframe.
Editing Indicators:
- To edit the current indicator, click the [X] next to the indicator name and choose a new one.
- Select additional indicators if needed and adjust the timeframe.
Base Order Amount & Type
Defining the Initial Investment and Order Type
Next, define the size of your base order (the initial position). You’ll also need to select the order type:
- Limit Order: Opens a position at a fixed price. It may take longer to fill, but it ensures a better entry price.
- Market Order: Opens the position immediately but may result in price slippage, buying or selling at less favorable prices.
Tip: For optimal performance, the Limit Order is recommended to avoid losses from price slippage.
Averaging Orders
Averaging the Position with Additional Orders
As the market moves, your DCA Bot will place additional orders to average the price of your position. You can customize:
- Averaging Orders Amount: The total investment allocated to DCA orders.
- Averaging Orders Quantity: The number of averaging orders the bot will execute.
- Averaging Orders Step, %: The percentage distance between each averaging order.
Active Orders Limit: This option controls the number of active averaging orders at any given time. When fewer active orders are placed, lower-priced orders remain inactive, freeing up funds for other trades.
Tip: Active orders are only placed at the lowest prices, ensuring that the remaining funds can be used for additional transactions.
Position TP & SL
This section includes settings that lead to closing your position.
Take Profit (TP)
Setting Your Profit Target
The Take Profit (TP) option closes the bot's position once a certain profit percentage is achieved. You can select:
- Regular Take Profit: Triggered based on price change from the average price, base order price, or by using indicators.
- Trailing Take Profit (TTP): Adjusts the TP as the market moves in your favor, locking in higher profits.
Important Note: When using indicators for TP, it will only trigger when both the indicator’s signal and the price percentage condition are met.
Trailing TP:
- Trailing TP Trigger %: The price change percentage at which trailing TP activates.
- Price Deviation %: The price must move by this percentage from the highest price for Long or lowest price for Short to trigger the trailing TP.
Stop Loss (SL)
Protecting Against Losses
The Stop Loss (SL) is used to prevent further losses by closing the position when the price moves against the trade. It is triggered based on the maximum weighted average price of your position.
Trailing Stop Loss:
- Moves the SL as the price moves in your favor. If the price reverses, the SL will close the position based on the pre-set percentage.
Tip: The SL can be adjusted manually, and trailing SL cancels orders placed below the SL, which will appear in gray.
Risk Management
Control Over DCA Bot Closure
The Risk Management section allows you to automatically close your DCA bot under certain conditions:
- Pump/Dump Protection: Pauses new positions when the price moves too quickly in either direction.
- Target Total Profit: Automatically closes the bot once it reaches the desired profit level.
- Allowed Total Loss: Automatically closes the bot once the specified loss percentage is reached.
Max & Min Prices
Set Price Ranges
This option lets you limit the prices at which the bot can trade, preventing it from buying at the peak or selling at the dip. By setting maximum and minimum price limits, you can avoid unfavorable market conditions.
Reinvest Profit
Maximize Your DCA Bot’s Performance
The Reinvest Profit feature allows your bot to reinvest the profits from previous cycles into new trades. This helps increase the bot’s position and ensures your funds are continuously working toward maximizing your returns.
You can see a comprehensive explanation on this feature in this article.
What's Next?
- Increase DCA Bot Position with Manual Averaging: Explore advanced usage by manually adjusting positions to optimize your DCA bot's strategy.
- Increase Your Trading Strategy Options with Active Orders Limit on DCA Bots: Discover how to expand your trading potential by configuring active order limits.
Need Assistance?
If you encounter any issues or have questions, don’t hesitate to contact the Bitsgap Customer Support Team.