EntryType and Deviation
How to set the EntryType and Deviation for the Futures Bot
There are many ways to enter the trade. Many groups want that you should wait for the entry to get the best price and the highest possible profits. In the following I will explain to you how it is done. So, let's dive right into it 😊
Option 1: "ASAP":
The bot will open the trade right away without checking for the entry price.
Example:
EntryPrice from the signal doesn't matter here.
"deviation": 1 (this means 1%) doesn't matter as well.
Price on the Exchange: 98 -> Bot will enter the trade
Price on the Exchange: 99.1 -> Bot will enter the trade
This might be a good option for fast entries on scalping signal channels.
Option 2: "DEVIATION":
The bot will open the trade if the price is within the "deviation" parameter, but only ONCE! If the price is within the deviation the trade will be opened, if it is not within the deviation the trade won't be checked again.
Example:
EntryPrice from the signal does matter here.
"deviation": 1 (this means 1%)
Price on the Exchange: 98 -> Bot will NOT enter the trade and will not try in the future again
Price on the Exchange: 99.1 -> Bot will enter the trade
This might be a good option for fast entries on scalping signal channels.
Option 3: "WAIT_FOR_ENTRY":
The price on the Exchange is 98: -> the bot will open a trade
The name explains itself. The bot will wait till the entry price from the signal is reached within the "deviation" value.
Example:
EntryPrice from signals is 100.
"deviation": 1 (this means 1%)
The price on the Exchange is 98: -> the bot will NOT open a trade
The price on the Exchange is 99.1 -> the bot WILL open the trade
If the entry price with the deviation isn't reached within your cancelTrade time the bot will not try anymore to enter the trade. This is usually the best option for swing trading like FED-Insiders, and so on.
Option 4: "TRAILING_ENTRY"
This is a new feature. You can use this to enter after the price reversed for a given %. Just like a trailing stop loss - only for the entry. This could give you a better entry price for higher profits.
Example 1: LONG trailing entry
We have a long trade and we start and at the time of the coin price is at 100. The price continues to fall: 99.7 -> 99.5 -> 99.2 -> 98.9. The bot didn't enter yet. Now the price starts to rise again: 99.0 -> 99.2 -> 99.4 -> NOW the Bot will enter as the price increased by 0.5% ("deviation").
The Bot would also enter when the price would start at 100 and increase to 100.5. The bot will until the trade is opened or the "cancelTrade" time is over.
Example 2: SHORT trailing entry
It works the same as Example 1 - just in the opposite direction.
Option 5: "RANGE"
Many signal groups give a range for the entry. For example like the VIP signals from scalping300:
If you want the bot to enter in this range, use "RANGE" in your settings as shown below:
The "deviation" parameter is not used by the bot then and the values entered here are not used for anything, so you can keep them as they are. When the last price comes into this range the bot will place the trade.
If the bot didn't detect a range (two or more entry values) it will skip the trade and won't check it.
If the bot detects more than 2 values for the entry price it makes a logical check for which values could be wrong and then uses the remaining two values for the range.
Option 6: Enter only in one direction - LONG or SHORT only
If you want the bot to only enter one direction: LONG or SHORT only you can do this by adding "LONG" or "SHORT" to the entry you want to use. For example:
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