Multi-pair DCA bots allow you to optimize your fund usage, monitor multiple pairs, and capture more trading signals without holding excess idle funds. Use one bot to open trades across various pairs, adjusting settings to maximize your efficiency and results.
Benefits of Using Multi-pair DCA Bots
Optimize Fund Allocation: Prevent funds from sitting idle by allocating them only when a trade is active.
Monitor Multiple Pairs Simultaneously: Increase the chances of catching favorable trades by expanding the range of pairs you’re analyzing.
Flexibility in Coin Selection: Choose from a wide range of coins based on market signals, rather than committing funds to a limited selection.
Key Features
Choose a Wide Range of Coins: Select pairs individually or use the "USDT_ALL" option to let the bot access all available pairs with a single quote currency.
Max Active trades Limit: Set a cap on the number of trades the bot can open at the same time, allowing you to manage fund allocation efficiently.
Flexible Pair Changes: Adjust the bot’s pair selection without stopping it, enabling you to pivot according to market conditions.
Step-by-Step Guide to Setting Up a Multi-pair DCA Bot
Step 1: Create a Bot and Select "Multi-pair" Mode
Go to the DCA bot page.
Click on "+ Start new bot".
In the bot setup screen, choose Multi-pair mode.
Step 2: Choose Pairs to Monitor
Add Pairs: Select pairs manually, or use the "USDT_ALL" option to include all pairs with USDT as the quote currency.
Update Pairs Easily: You can change selected pairs anytime without stopping the bot, offering flexibility to adapt to changing market conditions.
Step 3: Configure Bot Settings
Set Base Order and Averaging Order Sizes:
Base Order Size: Enter the amount for the initial trade, e.g., 50 USDT.
Averaging Order Size: Set the amount for each additional averaging order, e.g., 50 USDT.
Define Maximum Active trades:
This setting limits how many simultaneous trades the bot can open, which helps in managing overall fund allocation. For example, setting this to 5 allows up to five active trades at any given time.
Step 4: Select Trade Start Condition
Choose the Trade Start Condition based on your strategy:
For testing, you might use TradingView 15 minutes Buy Signal, which generates signals frequently.
You can check other options in this article:
Configure the bot to respond only to signals from these conditions, enabling it to open trades when optimal conditions are met.
Step 5: Fine-tune with Max averaging Trades per trade and Target Profit
Max averaging Orders per trade: Set this number based on your risk tolerance, e.g., 9.
Target Profit: Specify the profit target for each trade, such as 0.1%.
Start the Bot: After configuring these settings, start the bot. It will begin monitoring your selected pairs and open trades based on your defined conditions.
Managing Multi-pair DCA Bots
Once the bot is running, it will monitor all selected pairs. Here’s how it behaves:
Limit Active Trades: The bot will only open trades up to your set maximum. For instance, if the limit is 5 active trades, the bot will ignore additional signals until one of the current trades closes.
Flexible Pair Management: Change pairs anytime, even while the bot is running, to adapt to market changes.
Utilize Demo Mode: Test the bot in Demo mode to see how it performs with different pair selections, trade conditions, and averaging settings.
Troubleshooting & Best Practices
Avoid Reserving Excessive Funds: Set your Max Active Trades limit based on available funds to prevent over-committing.
Use Favorable Coins: Select coins with strong fundamentals or recent positive movement for better trading results.
Take advantage of averaging orders: Configure averaging orders to prepare for unfavorable price movements and reduce risks.