DCA Range Strategy
Last updated
Last updated
The DCA Range Strategy on Sonar allows you to automate both buys and sells over a set number of orders, triggered by market conditions that fall outside a predefined market cap range. Buys are executed when the market cap falls below the minimum threshold, and sells occur when the market cap rises above the maximum threshold.
Navigate to the ‘Strategy’ dashboard and click the "New Strategy" button. This will take you to the strategy creation screen, where you can begin setting up your DCA Range parameters.
Select the Range order type, then choose the DCA strategy method. This will allow you to automate trades at consistent intervals, based on market cap thresholds.
Next, choose the token from the list of tokens you hold in your Sonar account. This token will be used for the sell side of the strategy. Additionally, ensure you have a sufficient Eth balance, as it will be used for the buy side of the strategy.
In this step, you will configure the key settings for both the buy and sell sides of the strategy:
Amount: Set the amount of tokens for selling and the amount of Eth for buying that will be used in the strategy.
Order Frequency & Total Number of Orders: Set the frequency of trades (e.g., every 10 minutes) and the total number of orders. The strategy will execute this total number of orders, with buys and sells combined, based on the market cap conditions.
Set your strategy’s price range by defining a minimum and maximum market cap. The strategy will trigger trades based on the following:
Buys will occur when the market cap falls below the minimum threshold.
Sells will occur when the market cap rises above the maximum threshold.
This ensures that your trades are executed when the market conditions meet your defined parameters, providing control over when and how buys and sells are triggered based on market movement.
Once all parameters are set, click "Set Strategy" to activate your DCA Range Strategy. You can monitor and manage your active strategies in the Strategy Dashboard, where you’ll be able to track performance, view transaction history, and make adjustments if necessary.
