Welcome to the Subscribe Strategy Setting on the BuddyTrading app! This guide will help you understand how to configure your strategy settings effectively.
Before beginning, ensure that your account is connected to the exchange with an active Exchange Account.
The Parameters on Subscribe Strategy Setting popup:
- Allocation
- This field represents the total fund you will use to subscribe to the strategy.
- Ensure that your Spot account on the exchange, such as your Binance Account, has more than the amount you input to avoid any errors.
- Market Type
- The default market type is set to Spot Market.
- Currently, the BuddyTrading app supports two main market pairs: BTC/USDT and ETH/USDT.
- We are planning to support additional token pairs in the future, so stay tuned for more options!
- Timeframe
- Choose the timeframe that suits your trading style.
- Max Draw-down
- Set the maximum percentage of drawdown you are willing to tolerate. This helps in risk management by limiting your maximum loss.
- Stop-loss
- Define the percentage at which the system will stop your losses. This is crucial for safeguarding your funds against significant drops in value.
How to Proceed:
- Once you have set all the parameters to match your preferences and strategy, click the Subscribe button.
- This action will finalize your subscription to the selected strategy, and trading will start based on the parameters you have set.
By following these steps and carefully setting your parameters, you'll be well on your way to leveraging expert strategies and optimizing your trading performance on the BuddyTrading app. Happy trading!