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/Trading Bots/COMBO Bot/Advanced COMBO Bot Settings

Advanced COMBO Bot Settings

The Bitsgap COMBO Bot offers robust customization features that allow you to tailor your trading strategy according to your preferences. In this guide, we’ll walk you through the key manual adjustment settings that can help fine-tune the bot's performance. These include configuring price limits, adjusting grid steps and levels, and managing risk with Stop Loss and Take Profit orders.

Overview

Watch Our Quick Video Guide: Mastering Bitsgap's COMBO Bot for Futures Trading | Crypto Trading Series [Part 4]

Set Up High and Low Prices

By default, the bot sets the trading range 10% above and below the current market price. However, you can manually adjust the "Low Price" and "High Price" fields to define the trading range based on your strategy.

  • For a Long COMBO Bot: Orders above the current price are Grid orders (which take profit and reduce the position), while orders below the current price are DCA orders (which average the entry price and increase the position).
  • For a Short COMBO Bot: Orders above the current price are DCA orders (to average the entry price and increase the position), and orders below the current price are Grid orders (to take profit and reduce the position).

Adjusting the price range ensures the bot operates within the parameters that suit your market expectations.

Adjust the Step and Number of Levels

The "DCA + Grid levels" parameter determines the total number of orders the bot will place. Meanwhile, the "DCA and Grid step" specifies the price difference between these levels.

  • DCA and Grid Step: Changing the percentage step alters the distance between orders, with smaller steps creating more frequent trades, and larger steps reducing order frequency.
  • DCA + Grid Levels: This field dictates the number of levels in the grid and DCA structure, balancing how many trades the bot will execute.

These two settings work together; adjusting one will automatically impact the other, so understanding their interplay is crucial for optimal performance.

Key Parameters to Understand:

  • Max Position: Maximum volume of the position the bot will open.
  • Max Margin: Maximum margin the bot can utilize for each position.
  • First Order Volume: The size of the first order used to initiate the position.
  • DCA Orders (N): The total volume of DCA orders.
  • Grid Orders (N): The total volume of grid orders.

Where *N - number of orders.

Setting Take Profit and Stop Loss

Once you’ve configured the price range and order levels, it’s time to set your risk parameters.

  • Take Profit: Set a price level at which the bot should close the position and lock in profits.
  • Stop Loss: Set a price level at which the bot will close the position to limit losses. Note that Stop Loss is trailing by default, meaning it follows the price in a favorable direction and adjusts as the market moves, without being fixed.

When either the Take Profit or Stop Loss level is reached, the bot will:

  • Cancel all active orders.
  • Place a market order to close the position at the current price.
  • Move the bot to the “Bot History” tab for tracking.

Backtest Your Settings

Before launching your bot, you can use the Backtest feature to evaluate how your settings would have performed based on historical data. This can help you optimize your strategy for the selected trading pair.

  • How Backtest Works: Click on the [Backtest] button to see how the bot would have performed over the past 30 days (default). The results provide insight into potential profits or losses under current settings.

Finalizing Your COMBO Bot Setup

Once you’ve customized the settings and reviewed the backtest results, your COMBO Bot is ready to launch. Remember, the key to successful trading is continuously monitoring and adjusting your settings based on market conditions.

What's Next?

  • DCA Futures Bot: Discover how to leverage the DCA strategy for futures trading and optimize your trading positions.
  • Manual Trading: Learn how to trade manually with advanced tools on the Bitsgap platform for a more hands-on approach.

Need Assistance?

If you encounter any issues or have questions about connecting your exchange, please don’t hesitate to reach out to the Bitsgap Contact Support Team.