The Auto Trading feature of Dcypher gives you the ability to create your own algorithmic trading setup that will automatically buy and sell cryptocurrencies for you.
You no longer have to monitor the markets for the right conditions. Dcypher’s algorithms will do it for you and will maintain your positions while you are asleep, busy, or just not paying attention.
You can start live trading on one of the major crypto exchanges like Binance or Coinbase Pro. Or, if you just want to do a test run, you can use the Paper Trading option.
There are two ways to start Auto Trading:
From Market Analysis screen
If you are scrolling the Market Analysts screen and you find an asset that you want to auto trade you can slide it to the left side of the screen. This will reveal the “Bookmark” button and the “Auto Trade” button.
From the Auto Trading screen
You can view signals directly on the Auto Trading screen and when you pick an asset you want to trade you can tap its name, then select the “Auto Trade” Button.
Once you do this you will see the auto trading settings screen:
Here you can set the following parameters:
Live Trade or Paper Trade:
Paper trading lets you safely test a trading strategy without using real money. If you select this option trades will be simulated on a paper trading account that you can track via the “Account Summary” screen. To enable Live Trade you will first have to add the API credentials for at least one exchange.
Exchange (if live trading is selected):
Currently, supported options are Binance and Coinbase Pro. The trades will be created only on the exchange you selected.
Auto Trading comes with a set of pre-defined trading strategies at your disposal. The strategies are carefully built by Dcypher’s algorithmic trading team on top of popular and well-tested indicators.
The amount of the trade can be set to a dollar value like $20 or a percentage of your account balance, for example, 5%.
Once you have all the settings ready you can click on the “I accept the Terms and Agreements” button and then the “Start Auto Trading” button.
After this Dcypher is going to trade the selected cryptocurrency for you whenever there are signals generated by the trading strategy.
Once you enable auto trading for a given cryptocurrency it will automatically be added to your watchlist too so you will receive notifications when there are signals for it.
If you selected Live Trading you will also receive email and SMS notifications when trades are opened or closed on the exchange.
If you want to change your auto trading settings or disable it you can do so by navigating to the auto trading screen for the specific cryptocurrency. Here you can change the parameters you set up previously or cancel auto trading for that asset.
You can monitor the state of your Auto Trading from the Account Summary screen. You can access it by opening the main menu and selecting Account Summary
Here you can select the exchange you want to see positions and balance for from the drop down menu at the top of the screen. If you are using Paper Trading you will also see “Virtual Exchange” in there.
There is a chart that tracks your account balance. Below it you will see the total balance and percentage of change and list of all current positions opened by the Auto Trading.
The Current Positions list will also include the stablecoin balance used for Auto Trading. If you are using Binance as your exchange of choice you will see your BUSD balance.
For Coinbase Pro you will see USDC and USDT as both are supported.