Getting Started w/ v3
- Launch bot.exe
- Select which Decentralized Exchange (DEX) you want to use.
Enter the token pair you want to use.
- For this screen you will copy and paste the Liquidity Contract for the token pair that you are interested in.
Alchemy Trades will detect the coins that make up the Liquidity Pair. Due to how Liquidity Pairs are created, and how the blockchain works, the order of the coins can be different. You will be prompted to select the correct order.
Since we want to trade WAVAX, we would select 1.NOTE
Why are there two options and what do they mean? When someone creates a token, they create a Liquidity Pair with a “stable” coin. When the LP is made sometimes the creator will add the tokens in the wrong order. Unfortunately this means we cannot assume which of the two is the pair you want to trade. Simply select the pair that has the token you want to trade as the first option.
Select which trading strategy you want to employ (see Trading Strategies section)
- Enter Upper Range
- This is the highest limit of trading for Grid and Reverse Grid strategies.
- Upper range is typically the current resistance level of the token you are looking to trade. Choosing the Upper and Lower limits are going to be part of your strategy, but going with resistance for Upper and support for Lower is a good starting point.
- Enter Lower Range
- Just like the upper limit, this is the lowest the price can go for your trading strategy.
Number of Grids
This is how many times you will divide the range between Upper and Lower limits.
With the WAVAX/USDC example, at the time of writing the resistance is roughly $18.04, making that the Upper Limit, and the support is roughly $13.80, making that the Lower Limit.
This means there is $4.24 that makes up the range between the Upper and Lower limits. The Number of Grids divide this. So if you have 4 Grids then you would divide $4.24 into 4 parts, each $1.06 wide.
18.04 - Upper Limit 16.98 15.92 14.86 13.80 - Lower Limit
Confirm your Grid Trading Strategy
Built into Alchemy Trades is a feature called Profit Guard. Profit Guard measures the grid settings you enter and calculates if it's possible to make a profit. If not, it will reject your Grid Settings with a warning, and ask you to enter new info.
At this point Alchemy Trades will implement your trading strategy and will provide you with a real time price feed from the block chain. All buys and sells will be notified and it will keep track of your Invested, Current Total, and Realized gains.