CREATE A SMART TRADE

Learn how to create your smart trade

To create your smart trading positions, click on "Smart Trade" on the top navbar or visit this link: https://app.mizar.com/dashboard/smart-trading/terminal.

To learn how to use the Mizar Smart Trading Tool, watch this tutorial or read below.

Positions Settings

In the first section of the terminal, you need to set up the main settings of the position.

• Exchange key: the exchange key where the orders will be executed.

• Pair: The pair that will be traded, for example, BTC/USDT

• Quote Asset: The second currency within the currency pair quotation. For example, if you want to go LONG on BTC with USDT, then USDT is your quote asset.

• Market: SPOT or FUTURES

• Order side: LONG or SHORT. A Long position buys and then sells in order to generate profits. Instead, a short position sells and then buys in order to generate profits.

• Order type: Market or Limit. When the Market type is selected, all the orders will be executed as market orders. Instead, when the Limit type is selected, all the orders will be executed with a special aggressive limit order strategy that will avoid price slippage.

• Leverage: if trading FUTURES, set up the leverage. All the orders will be executed with the set leverage (max 20x).

• Future Mode: One way or Hedge mode. Read more about the differences here.

Once set up the main settings, the TradingView chart will be updated and you'll be able to visualize the current price of that pair on the selected market and exchange.

Entry Levels

Single Mode

If you don't want to split up your investment into multiple entries, select the single tab.

Input the total cost you want to entry with. In this example, you'll buy 100 USDT worth of BTC, meaning 0.002201 BTC.

Multiple Mode

If you want to split your investment into multiple entries, then select the Multiple tab.

In this case, you'll purchase 50 USDT worth of BTC at a price of $45,421.95 and 50 USDT worth of BTC at a price of $45,649.06.

Take Profit Settings

Here you can pre-set your take profit targets and let Mizar close the position for you.

Fixed mode

You can take profit by setting fixed prices at which part of the position will be closed. In this example, you will close 50% of your position at a price of $45,876.17 and the remaining at a price of $46,757.97.

Deviation mode

You can take profit by setting deviation (vs average entry price) at which part of the position will be closed. Let's assume you bought BTC/USDT at an average price of $44,000. By settings your first take profit step at +5% deviation with a 50% weight, it means you will close 50% of your position at a price of $46,200. The remaining assets will be sold at a price of $48,400.

Trailing Take Profit

Optionally, it is also possible to activate trailing take profit.In this case, when the take profit target has been hit, the position will not be closed immediately. The smart trade will track the position with a deviation percentage, for example, when the take profit percentage is 5% and the trailing deviation is 1.0%, then the smart trade trails the position at 4.0% profits. If the profits keep increasing, then the trailing profit target increases as well, but if the profits decrease then the trailing profit stands until the trailing take profit target is hit. The goal of trailing take profit is to maximize the position's profit and capture big price movements without taking profits too early.

Stop Loss

The stop loss function works exactly as the take profit function, but on the opposite side. It helps the trader to protect from losses when the price goes against the trader assumption. In this case, you will close the position at the set price or at the set percentage, when the triggers are hit.