Add Funds feature lets users increase the volume of the trade and average the price at any moment.
The "Add Funds" button allows the manual addition of funds to the deal. It helps to get more control over the deal, especially when it is at a significant loss.
Some possible uses:
If you want manually control the volume of the trade and the price averaging.
If you want to control the price averaging if the price goes against the deal's direction, you can add some funds to let the trade move the take-profit order closer to the current price.
When the price reverses in a profitable direction, you can add some funds to let the trade close the deal faster with a more significant profit.
It is a mighty instrument when used correctly. But a possible use without any analysis may lead to even more losses. Be careful when using it.
It's available for any active SmartTrade.
You can add funds to either just created trade (initial order is not yet executed) or already opened trade (with initial order already executed) to add more orders to increase the trade volume and average the entry price, so it becomes some kind of DCA bot's Safety Orders.
Here is how you can add funds to the SmartTrade.
Click on the three dots menu and choose Add Funds button:
Then you will see this modal window:
1 - Volume of funds you want to add. You can either manually type in the amount of QUOTE currency you wish to add or move the slider, or type in the %-age of the available amount.
2 - Available Amount - how much funds you have available to use in this feature.
3 - Order type - Market or Limit. If it's Market, the Add Funds order will be executed immediately at the current market price. If it's a Limit, you can choose the price level where the Add Funds order will be executed.
4 - You can specify the price if the Limit type is chosen on the 3rd item.
5 - Total quote currency - how much QUOTE currency you will spend on this Add Funds order.
6 - Total base currency - how much BASE currency will be purchased after Add Funds order is executed.
Click on Save to create the Add Funds order
After all these settings, you can click on the Save button, and the Add Funds order will be activated. To find the active Add Funds order, you need to expand the trade's information by clicking the down arrow button.
Here is what the executed Add Funds order looks like (if the Market type is picked):
And here is what the pending Add Funds order looks like (if the Limit type is picked):
Executed Add Funds order averages the entry price and cannot be edited or canceled.
The pending order does not affect the entry price yet, and you can Edit it or Cancel it.
Canceled orders are displayed too, as you can see on the screenshot above.
Edit the Add Funds pending order
Clicking on the Edit button allows you to change its settings. The window looks just like when you were creating the Add Funds order and you can change any setting:
We hope this information will help you manage your SmartTrade with the Add Funds orders!