Wick Hunter offers users the ability to optimize their trading strategies through various styles of Dollar Cost Averaging. In this article, we'll delve into Liquidation DCA.
Understanding Liquidation DCA Settings
Liquidation DCA based on liquidations means that a liquidation needs to occur within the defined range. The bot will not DCA without a liquidation event!
Sources: Select the source(s) of liquidation you would like to be considered for entering a trade.
Minimum Liquidation Size: Enter the minimum liquidation size in dollars (USD) that must occur before considering opening a DCA.
Use VWAP’s: When turned on, you can define a VWAP size, timeframe, and period.
Range start: Input the percentage from your current entry price where you want a DCA range to begin. For example, if you input 5% here, the bot will not initiate any DCA until the current price is 5% away from your average entry price.
Range end: Input the percentage from your current entry price where you want a DCA range to end. For instance, if your DCA range starts at 5% and ends at 10%, you will have X ("Number of Orders") buys possible when the current price is 5% to 10% away from your average entry price.
Size: Enter the desired amount in dollars or as a percentage.
Size Type: Select whether you want to use a value in dollars (USD) or a percentage of your total account for each trade. Note: the percentage is based on the TOTAL account, not the available balance.
Number of Orders: Input the maximum number of DCAs you want if your VWAP (if enabled) and liquidation conditions are met for the particular range you are creating.
Mastering Liquidation DCA on Wick Hunter empowers traders on to implement sophisticated and dynamic trading strategies. By understanding and fine-tuning these parameters, you can optimize your DCA approach and enhance your overall trading performance.