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Setup

Screenshot

Alchemy Trades v4

  1. The first time you run Alchemy Trades it will walk you through a basic tutorial of its features.
  2. Follow the tutorial, and add the wallet information for whatever wallet you are going to use for Alchemy Trades. Please note, we recommend you make a new wallet for this, and for any crypto adventures you get up to. It's easy, it's free, and it's good security practice.
  3. Congratulations, if you have followed the tutorial then you are ready to go.
  4. Whether this is the first time you have used a bot, or just the first time you have used Alchemy Trades, a good place to start is the Simulation mode. This will allow you to get the experience without investing any of your money.

Alchemy Trades v3

  1. Navigate to the folder where you saved Alchemy Trades v3
  2. Open setting.json with notepad
  3. Add your Wallet & Wallet private key

Example settings.json 

{
    "WALLET_ADDRESS": "0xCd95161323d4F9b2b1a348eEa6493668141DdB33",
    "PRIVATE_KEY": "af917133b4fd5eb964b704abebf1c1f1e18ae9f3ec9042c432f8ba2ff207edbe",

    "USE_CUSTOM_RPC": "True",
    "CUSTOM_RPC_ADDRESS": "https://avalanche.public-rpc.com",

    "GRID_REMINDERS": "True",
    "EXTRA_INFO": "false",

    "SIMULATION": "true",
    "SIMULATION_USD": "10000",

    "USE_TELEGRAM": "false",
    "TELEGRAM_USER_ID": "",

    "EXIT_KEY": "U",
}

How to get your Wallet’s private key

While a Secret Recovery Phrase is used to create and restore your entire Wallet, including all accounts created in that wallet, each account has its own private key. This key can be used to import that account, and that account only, into a different wallet.

You are probably familiar with the password and passphrase of your wallet. The private key is something that you use in lieu of those to work with software that interacts with the crypto blockchain. Think of it like a password, keep it secure, don't share it, etc.

Note: Your wallet’s private key is necessary for Alchemy Trades to have the authorization to make trades on your behalf. Depending on what software you use to manage your wallets, there will be different steps necessary to get your wallet private key.

As metamask is one of the most commonly used wallet, you can see how to export the wallet key here:

Getting Private Key

Additionally, it is a good security practice to create a new wallet for these types of actions.

Simulation mode and Extra Information mode are enabled by default

  • Extra information mode will add information to each of the menu screens to help guide you through the process. Once you are familiar with using Alchemy Trades you can set this to false to turn it off.
  • Simulation Mode will allow you to simulate trades without making actual buys/sells. This will help you learn the tool and develop your grid trading strategy early on. You will need to set this to false if you want to conduct actual trades.