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About Long Drop Spot Bot
Setup Guide
How to Set Up Drop Bot:
- Choose the currency pair.
- Specify the position size.
- Set the monitoring interval in minutes for price drops.
- Define the percentage size of the monitored drop.
- Set Take Profit and Stop Loss percentages.
- Specify the position's lifespan.
- Adjust the pause duration between position closure and the search for new signals.
- Set loss limits to manage risk effectively.
How It Works
Best Practices:
- Drop Bot excels during market downturns or periods of uncertainty, providing the potential for strong results.
- Utilize different settings during "crypto winters" and market growth phases to optimize performance.
Profit Generation
Profit Generation Strategy:
- Drop Bot exploits the price rebound phenomenon after sharp declines, often resulting in significant price bounces.
- Market trading tactics, common in the cryptocurrency market, provide opportunities for profit when prices quickly rebound after deliberate drops.
Key Features
Algorithm Overview:
- Drop Bot monitors sharp and rapid price drops, placing Buy limit orders one point below the current price.
- Once a position is opened, it can be closed based on predefined Take Profit or Stop Loss levels set in the settings.
- If the position fails to open and the price deviates too far from the order, it's deactivated, and the algorithm continues its search for a new signal
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