How to set your DCA bot
Dollar-cost averaging (DCA) is the most recommended investing strategy in both crypto and traditional markets. Period.
Setting it up with Deltabadger is simple, with powerful options for more demanding users. Both the single-asset bot and two-asset bot share most of the options, so let’s start with the single-asset setup:
Let’s start
- Pick the asset you want to invest in.
- Connect to one of the exchanges.
- Set your hourly, daily, weekly or monthly schedule:
That’s all. Set it and forget it. Over time, you buy all the “dips” and get an excellent average price without needing to time the market or do anything else.
Smart Intervals
The first additional setting you can use is our “Smart Intervals”—you can execute the same schedule with even smaller transactions and get perfect averaging even during a short period. This can be particularly useful if you use DCA to open a short-term position over a few hours or days.
Buy the dip!
Here’s where the fun starts. What if you want to capture a particular market moment? Deltabadger gives you a few options:
Buy below a certain price level.
Buy when the price drops a certain percentage either from the absolute top or in the last 24 hours (to capture moments of market volatility).
Buy when the RSI indicator is below [X]. This is a classic indicator used by many investors to determine a good entry point. You have two options: buy only when the price is below, or use it as a trigger to start the bot, and it will continue from then on.
Remember that RSI is calculated based on the last “close” not, a live value.
Finally, you can set a limit for how much the bot will invest.
Minimum Order Size
Each exchange has a minimum order size for each currency. You can find these minimums on the exchange website. With Deltabadger, you don’t have to worry about it; the bot handles the minimum in the following way:
If the scheduled amount is below the minimum, the bot buffers it and adds it to the next order. Sometimes, a few transactions can be buffered until they’re collectively large enough.
Change Exchange and Name
One of the most unique features of our bots is that you can switch the exchange and continue on another while keeping all the statistics. Just click on the exchange icon on the bot top bar.
Finally, you can change the bot name to make it easier to recognize on the Dashboard. Just click on the dot menu in the top right corner.
Are you investing in more than one coin? Learn about rebalanced DCA.
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Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investing involves risks, including the possible loss of principal. Always conduct your own research before making investment decisions.
