1. Default settings

Gearbox: 

Here you can set which variable you want to trade on. Currently you can trade on Binance and soon on Crypto.com.

From the API keys saved in your account, you need to select the key that corresponds to the variable you have set up. If not specified, you can only run SPOT BOT in Demo mode! 

Pair: 

Select which pair you wish to trade. You can only pick the pairs that the drop-down window allows. Start typing the first letters and select the one you want.  

The first is the base, the second is the quoted currency (e.g. ETH / USDT) 

Name: 

Choose a name that you can easily find when starting multiple bots. You can also enter a name based on your trading strategy. E.g. BNB B/40/3/1,5-3 

If not specified, the SPOT BOT list will display the name of the pair you have set up. 

Folder: 

Places the trade in a folder. Choose a name that you can easily find among several folders. If not specified, it will be listed in the list of SPOT BOTs without a folder.

2. Trading settings

Sale: 

This option is selected if you already own crypto and want to sell it. The base currency is the starting item (e.g. ETH -> USDT; we sell ETH for USDT). 

Buy: 

This option is chosen if you want to buy crypto. Currently we can only buy for USDT or another currency e.g. ETH/BNB 

Exchange rate: 

Enter the exchange rate at which you want to buy or sell the selected crypto. We want to choose the currency we want to buy or sell. (e.g.: Base / Notional -> ETH / USDT) 

Initial purchase exchange rate: 

When buying, if this is not set, you will buy in up to the amount of capital above the set level (not recommended!). When buying, it is recommended to set the Initial Buy rate below the set price level. For example, if the desired buy rate is $100, then set the starting buy rate level to $95. This will allow you to start buying from $95. That means you can buy at an even cheaper rate than you would have liked. 

(The system will trade continuously if no starting level is specified.) 

You need to specify the rate at which the SPOT BOT can start buying in. 

If we want to trade our existing currency and sell it and then buy it back at a lower rate, then the starting sell rate must be set above the specified rate level. In this case the level is $105. 

Quantity (base): e.g. BTC  

Set how much the system should trade (IMPORTANT: Trading rules are different on bills!) 

Quantity (quoted): USDT 

This field must be filled in if you want to enter the quantity in USDT. If you have filled in the base quantity, it will be automatically calculated and entered for you. It is important to check the amount you want! 

Note the minimum tradable amount on the bill for that pair! This is 20 USD on Binance! 

If the amount you have set is too small, the robot will place the orders to the bill in the same way, but no actual trading will take place! In this case you will receive a warning email from Tradensea and if no change is made the trade will be stopped.  

 
3. Selling settings: 

You can set how many instalments you wish to sell your purchased currency in. You can set the number of times you want to sell your currency.  

The same is true vice versa, so if you want to buy with your existing capital, you can create up to 10 buy levels.  

If you delete one of the several levels you have set because you want to improve it, you have to start the whole process again.  

When determining your profit, take into account the cost of switching! 

4. Run settings: 

If no API key is specified, you can only run SPOT BOT in Demo mode!

Demo:

In Demo trading, the system does not perform any actual trading, so in this mode you can try out different settings and custom strategies without any risk.

Live: 

Performs actual trades using your funds in the exchange. This is only possible if you have assigned an API key to your account and set it up for trading! 

Repetitions: 

If this feature is set to unlimited, then every time the preset level of the market price is touched a buy or sell will occur. The number of times a trade can be repeated can be limited (e.g.: SPOT BOT trade should be executed a maximum of 5 times)

Limit includes: 

If you do not set this feature, the robot will freely manage the total amount of capital in your account according to your settings. It can use up all of the capital in the event of a major fall and thus cannot trade at a lower price level because it has spent the amount in the account. This is why it is important to use the Limit function! It is an essential part of continuous trading and capital protection!  

If you specify in the Limit settings to allow e.g. $500 into a robot, you will be trading with this $500 and will not have access to the rest of the capital, you will not be able to spend it. Once this $500 is used up, you can, if you choose, make another amount of money available to the robot with the Limit setting and trading can continue at a lower price level.                      

When enabled, the SPOT BOT will operate with the limits set (it will not trade when it reaches the different limits) 

Buying at a rising rate: 

If allowed, you buy not only at a falling rate, but also at a rising rate. In the case of a rising exchange rate, you do not just sell the currency you have already bought, you buy and sell continuously.  

5. Security settings

Stop Loss: 

Set what the exchange rate should be when the SPOT BOT sells the purchased currencies to prevent a larger loss. The value cannot be higher than the purchase rate! 

If you want to sell your existing currency, you should also set this function, only this time it is set above the exchange rate you want to sell, not below it. Because we want to buy it back cheaper and not more expensive.  

6. Overview: 

With the Overview you can check all set data back within one page. If any of the data is not correct, use the "Back" button to go to the item you want to adjust and correct it. If everything in the Review is as you intended, you can click on the Save button to start trading.