When trading on the Spot, you can use the “Profit Currency” setting. This setting only works for limit orders that close a trade or reduce its volume.
Such orders are “Simple Profit” orders and orders from the multitake grid (but not stop losses ).
How does it work?
Any trade uses a trading pair, Base/Quote currencies. For example, ETH/USDT, here ETH is the Base and USDT is the Quote.
If you select ‘Quote’, then the bot will profit in USDT.
If you select ‘Base’, the bot will profit in ETH.
Let’s go through 4 classic trading examples.
Example 1. Profit in Quote.
In case of Long strategy, we buy 1 ETH at 1000 USDT and sell it for 1500 USDT – our profit is 500 USDT.
In case of Short strategy, we sell 1 ETH for 1500 USDT and buy it for 1000 USDT – our profit is also 500 USDT.
| Long | |
| Purchase | 1 ETH x 1000 USDT |
| Selling | 1 ETH x 1500 USDT |
| Profit | 500 USDT |
| Short | |
| Selling | 1 ETH x 1500 USDT |
| Purchase | 1 ETH x 1000 USDT |
| Profit | 500 USDT |
Example 2. Profit in Base currency.
In case of Long strategy, we buy 1 ETH at 1000 USDT and sell for 1500 USDT only part of it – 0.666 ETH. Our profit is 0.334 ETH.
In case of Short strategy, we sell 1 ETH for 1500 USDT, then buy 1.5 ETH for 1000 USDT. Our profit here is 0.5 ETH.
| Long | |
| Purchase | 1 ETH x 1000 USDT |
| Selling | 0,666 ETH x $1500 USDT |
| Profit | 0,334 ETH |
| Short | |
| Purchase | 1 ETH x 1500 USDT |
| Selling | 1,5 ETH x 1000 USDT |
| Profit | 0,5 ETH |
Important! This feature is technically possible only when your deal is closed by a limit order. In this case bot can calculate its volume and reduce it by the amount of profit, so that exactly the part of the coin bought on the downgrade remains a coin.
If the deal is closed by a market order – using the indicator signal or a Trailing Stop – then such an order can be sent to the exchange only for the entire volume accumulated by the grid. And the choice of the profit currency does not work in this case – all profits are taken only in the Quote currency for Long-bot or in the Base currency for Short strategy.
Why else might a profit in a coin not work?
If the profit in the deal is less than the required minimum for the order for this coin. That is, if the profit is 20 cents, and you can buy 0.1 coins at a minimum (while its value is 5 USDT), then you need a profit about of 50 cents per deal.
