Easy trading like one, two, click!
A good buy entry point often determines whether or not a trade will be profitable for you or not. That’s why at Kryll.io we decided to help you get the best entry point possible with our new feature: Smart Buy!
Smart Buy lets you start a strategy with an entry point and a deviation to that entry point to ensure that you will always buy at the right time. It is a useful tool to buy an asset that has a good entry price for long term holding or simply to buy at the best price possible an asset that you can predict will bounce.
During this article we will try to explain how it works and in which case you should use it! Have a good read!
How does it work?
The strategy behind the smart buy function is quite simple.
It waits for your entry target to be reached and as long as the price goes down the buy is not triggered, it is only triggered when the price goes up again.
On the gif below, the target is reached, and you can notice a red line.
This redline symbolizes the trailing deviation. This means that as long as the price goes down your target goes down too. Of course, you can adjust that deviation
To better image it, here’s a simplified strategy in Kryll.io editor.
The strategy waits for the price trigger block to be triggered (5500$ in our example) and then, two possibilities:
- The price goes above our first price, we trigger the buy instantly
- The price goes down and we wait for a market up to buy during an ascension.
Deviation is a term that we will use often during this series of article. That’s why we are trying to explain how it works in the most understanding way possible. Here’s a graph to image the deviation.
Deviation is the minimum percentage which is needed to trigger the trade. In the case of a Smart Buy, it’s the minimum percentage of upward market evolution that is needed to trigger the buy. As you can see on the graph, the first zone (purple one) does not trigger our buy because the market evolution was not sufficient. However the seconde zone (green one) shows that the market pumped by the right amount.
At the end of the day, you bought lower, and you are almost guaranteed to make more profit than just buying at your initial target.
How to use it?
Just like when you start a normal strategy, on the left side of the popup, you are prompted to select tan exchange and a pair. As well as the amount you desire to invest and the amount of KRL you want to fuel your smart trading with.
Now on the right side is where all the magic happens!
You have two modes that we will detail below.
- The Basic mode:
- Buy Min Target : The price at which you want your strategy to buy the asset.
- Trailing Deviation : The minimum deviation in percentage. So this means that if you put 1%, your buy will be triggered only when the market goes up by 1%. This prevents the strategy from buying too high during a price decrease period. And at the same time allows you to have the best entry point possible.
- Generate Link : Generate a link that will automatically fill the fields for the one that clicks on it, very useful if you want to share your ideas! - The Advanced mode:
- Buy Min Target : The price at which you want your strategy to buy the asset.
- The cool little slider : It’s just to select automatically a price, let’s say if you want to buy an asset when the price drops by 10%, you can use the slider to automatically adjust your entry point. It has no other use.
- Order type : Type of order, you can select limit or market.
- Trailing Deviation : The minimum deviation in percentage. So this means that if you put 1%, your buy will be triggered only when the market goes up by 1%. This prevents the strategy from buying too high during a price decrease period. And at the same time allows you to have the best entry point possible.
- Generate Link : Generate a link that will automatically fill the fields for the one that clicks on it, very useful if you want to share your ideas!
Now that your parameters are set, you can start your smart trading strategy right away by clicking “Start”!
When to use it?
Now that you know how to start the smart buy strategy with all your parameters, we can jump into the interesting part! When to use this smart buy strategy.
It can be useful in numerous situation but we will only explain two of them.
There are many many more use cases of the smart buy and we hope you will explore them all!
https://platform.kryll.io
Happy Trading!
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