Use this bot to "accumulate" or buy a certain amount of asset over time. This strategy is useful in achieving an average price (DCA) when uncertainty about future price exists or a large quantity needs to be purchased.
Use this bot to split up a large order over time, sending at max 1 order per minute. The total run time can be a few minutes to years - it's up to you how you use this bot.
Example 1: Buy $10,000 USD worth of BTC, over 10 days. By setting your "Amount per Order" to $1000, the bot will place 1 order per day for 10 days until $10K has been spent or 10 days have elapsed.
Example 2: Buy 1 BTC worth of ETH, over 30 days. By setting your "Amount per Order" to 0.001389 BTC, the bot will place 1 order per hour for 30 days until 1 BTC has been spent or 30 days have elapsed.
Example 3: Buy $1000 USD worth of BTC over 24 hours, at $20 per order, the bot will send ~2 orders per hour until stop stop trigger specified is met:
Exchange: The exchange to run this bot on. A bot can be backtested on one exchange and run live on another. Please note: The backtesting window for this bot cannot be larger than 30 days. For example, if the backtest start date is Nov 1st, 2018, the end date cannot be after Dec 1st, 2018. This is a current limitation and may change in the future.
Market: The pair (symbol) to trade. Quadency's standard convention is Base/Quote. In this example, we are buying BTC using USD.
Total Amount to Spend: The is the total amount you wish to spend. Specify this amount in Quote currency. In this example, we are buying BTC using USD, so the total amount should be in USD.
Amount Per Order: This is the amount of cash (quote currency) the bot will spend for each order. The number of orders are automatically calculated based on the time period the bot will run. In this example, the bot will buy $20 worth of BTC in each order.
Over Time Period: This is the length of time the bot will run. This time is also used to determine the number of orders the bot will send, spread evenly across this time period. In this example, the bot will run for 24 hours (or 1 day).
Stop Trigger: The value here determines when the bot should stop buying. The two options are Over Time Period and Total Amount to Spend. If "Over Time Period" is selected, the bot will stop buying when the time allotted to the bot has elapsed, even of the total amount purchased has not been completed. If "Total Amount to Spend" is selected, the bot will continue buying until the total spend amount has been exhausted, even if the bot has to run beyond the time allotted. Use one of these options to better control the behavior of this bot per your discretion.
This strategy sends all orders as Market orders.