Wick Hunter is a powerful trading bot that offers a wide range of features to help traders manage risk and optimize their trading strategies. In this article, we will focus on the account level settings that are available on Wick Hunter, specifically the settings that apply to a specific market you are trading on.
“Max Open Positions”: This setting allows you to set the maximum number of concurrent trades that the bot can open at any one time. Once this number is reached, the bot will not open any more positions until at least one trade is closed. This helps to limit your overall exposure to the market and manage risk.
“Max Open Long Positions” and “Max Open Short Positions”: These settings allow you to set the maximum number of concurrent long and short trades that the bot can open at any one time. Once these numbers are reached, the bot will not open any more positions until at least one trade is closed. This helps to limit your overall exposure to the market and manage risk.
“Isolation Percentage”: This setting allows you to set a percentage of margin used compared to your total balance. Once this percentage is reached, the bot will not open any new trades. This helps to limit your overall exposure to the market and manage risk. This setting does not include unrealized profit or loss and is calculated by dividing the position size by the leverage used.
“Cooldown Timer (BUY)” and “Cooldown Timer (SELL)”: These settings allow you to set a limit on how quickly multiple positions can be opened via Wick Hunter. For example, if you set a cooldown timer of 10 minutes, no new positions will be allowed to open until 10 minutes have passed since the last trade was opened. This helps to prevent over-trading and allows you to make more informed decisions.
Overall, these account level settings on Wick Hunter help traders to manage risk and optimize their trading strategies by limiting the number of concurrent trades, setting a maximum percentage of margin used, and implementing a cooldown timer. By using these features, traders can trade with confidence and make more informed decisions.
In addition, Wick Hunter also provides a wide range of other features such as automated trading and community-driven strategies. Traders can also customize their own trading strategies using the TradingView integration.
In conclusion, Wick Hunter is a powerful trading bot that offers a wide range of features to help traders manage risk and optimize their trading strategies. The account level settings are just one of the many features that traders can use to make more informed decisions and trade with confidence.