Intro
So, you subscribed to DipSway for the first time and you are trying to figure out what the best setup would look like. All you need to know will be explained in this quick manual guide.
As excited as you are to get your hands on the AI-powered bot, let’s take a second to understand how to properly set up your new bot.
There can be many reasons why you were interested in this particular bot. Yet the end goal is always the same: to make profitable trades in the crypto market.
DipSway AI bot is built to set your trading journey on autopilot. At the end of the day, DipSway is here to help you make it profitable. The bot is powered to execute great buy and sell orders.
Now let's get into the bot setup. What are the 3 steps for configuring the bot?
Buy Power
Crypto selection
Stop-loss & Take-profit
Let's start at number 1. Here’s everything you need to know about Buy Power and how to get the most out of it.
What is Buy Power?
Buy Power in DipSway represents the maximum amount of USDT the bot could place on a single trade. Simple right? Let's dig deeper.
The number of crypto selected, the amount of Buy Power, and USDT in your wallet will dictate how much the bot will, in reality, feel comfortable with investing in a single trade.
How much capital should I give the crypto bot?
Wallets with a small capital, such as <500 USDT and 30 selected crypto assets, will not perform as well as they could.
A simple math equation to determine how much your bot will place in a single trade is the following:
Optimized amount available to invest = {{Your Buy Power}} / 10 / {{ N. Crypto You Select }}
Real-life examples:
100,000USDT wallet10,000 buy power / 10 trades per asset = 1,000USDT1,000USDT / 5 crypto selected = 200USDT trades.
The bot will have the power to place single trades up to ~200 USDT.
Another Example:
200USDT in the wallet
200 Buy Power
2 crypto assets were selected
The bot has 100 USDT for each asset.
The trades will start from ~10USDT per trade. This way the bot will make safe and well-balanced trades.
☝️ N.B: If the bot sees the opportunity to invest more or invest multiple times in a short period, It will.
Which crypto should you trade?
Now that we tailored down how many crypto assets you should select to keep your bot healthy, it’s time to pick the most profitable crypto!
If you have the skills and market knowledge to make strategic decisions about what to let the bot trade, then you can make your own calls. Although you will find our table very interesting as well!
For our guided approach, you can check out our Best Crypto Performances table under the Live Performances section.
You will find a looong list of crypto assets. These stats are directly taken by DipSwayers running bots!
You now have:
Name of asset
Cumulative Profit & Loss of the asset during the previous month
Average trade duration (time from Buy to Sell)
Every 1st of the month you will get a fresh table with the best-performing assets of the month before, so you can jump on the best returns and continue profiting the next month.
Extra Optimization (coming soon)
The DipSway platform offers you 2 optional features that you might find VERY useful.
Let’s define these two features.
☝️ Stop-loss: during an open trade, if the crypto selected drops the selected %, the bot will automatically sell. A stop-loss is crucial for setting a safety net for your losses.
Example:
You select a stop-loss of 5%
Your bot opens a trade on BTC
BTC drops down and your open trade starts to drop down. As soon as you hit that 5% threshold the bot will automatically sell so you make sure that if BTC continues to drop you won’t lose but surf the wave and open a new profitable trade.
☝️ Take-profit: during an open trade, if the crypto selected reaches a positively selected % of profit, the bot will automatically sell. A take-profit parameter is great if you want to make sure that once you go over a certain % of profit you take home the investment without hesitation.
Example:
You want shorter trade durations and take-home profits as soon as there are any.
You select a Take-profit at 2%
Your bot opens a buy order for BTC.
As soon as BTC rises and your order reaches a 2% profit, it will sell and take home the small win.
This will make sure that your bot will have a healthy amount of investible capital available. As soon as it sells it could open a new position and if BTC in this case, continues to rise, you will see a multitude of small profitable trades!
Both parameters can be very important for minimizing losses and maximizing the profits you are trying to achieve.
There isn’t a fixed magic formula so you should you should play around with what you feel comfortable with.
Conclusion
You now know how to:
Setup your Max Buy Power
Select your favourite Crypto Assets
How to use Stop-loss & Take-profit as extra features
You are now ready to make the most out of your AI crypto bot!