DCA Trading Bot on DeGate DEX
Last updated
Last updated
DeGate DEX offers an automatic decentralized DCA Plan with Zero Fee Mode. DCA, Dollar-Cost Averaging means buying or selling an asset for a fixed amount at a certain frequency. For example, you buy $100 worth of ETH once per week. Over time, this allows you to build a position with a favorable average buy or sell price. DCA smooths out volatility over time and has historically proven to be a winning investment strategy in the long term.
Here is a tutorial on how to set up a DCA Plan.
Let's use setting up a DCA Buy plan for ETH as an example.
In the Custom option, you can customize the frequency to every x hours or minutes.
By default, the Start Time is "Now." You can customize the Start Time to a future date and time by clicking on the Calendar icon. End Time is the time when your DCA Plan will stop.
Zero Fee Mode processes every DCA order as a Maker-Only limit order, which incurs no fees. However, be aware that your orders may not be filled immediately or potentially not at all.
You can choose whether to activate Zero Fee Mode or not. To activate it, click the dot to the right; the bar will turn blue, indicating that Zero Fee is activated.
Hover your mouse over the "i" icon next to it for more information.
Price Limit allows you to control the maximum buy price or the minimum sell price of your DCA Plan. For example, if you don't want to buy ETH when its price is above $4000, you can set a Price Limit to ensure all your buy orders are executed at $4000 or less. To do this, click the dot to the right and enter 4000 in the Maximum Price bar.
Hover your mouse over the "i" icon next to Price Limit for more information.
When you've set up all the necessary parameters, you can view the estimated Number of Orders and Total Amount for your DCA Plan. Note that you don't need to have or block funds equal to the Total Amount in your DeGate Balance, but you need to have available funds at least equal to the Amount per Order at every moment your DCA order is executed.
Click Create DCA Plan. A summary window of your DCA Plan will pop up; then click Create. Now you've set up the DCA Plan
Please note that if you don't activate Zero Fee and Price Limit, your DCA Plan summary will show Order Type as "Market," meaning your DCA orders will be executed as Market Orders.
After you've activated a DCA Plan, you can always check its progress and details.
In DeGate DEX's DCA page, you will find your Active and Ended DCA Plans in the lower side. Click on the highlighted button to pop up a window showing the details of your Plan.
Whenever you want to end the DCA Plan, just click End, and then Confirm.
You can open DCA Plans for any tokens available on DeGate DEX.
