Can I use manual trades for dip-buy strategies?

Yes, manual trades in MagicTradeBot are ideal for dip-buy and retracement-based strategies. They allow you to predefine trades that execute only when specific price conditions are met, making them perfect for structured entry planning.

1️⃣ How It Works

You can set a manual trade with:
- Price: 0 → Use the current market price as a reference.
- ExecuteThresholdPerfect → Specify the percentage dip required before execution.
The bot monitors the symbol and executes the trade only after the price drops by your defined threshold, capturing a better entry point for your position.

2️⃣ Example

- Symbol: ETHUSDT
  Direction: Long
  Amount: 1000
  Price: 0
  ExecuteThresholdPerfect: 5   # Execute only after a 5% dip

Here, the bot waits for a 5% price drop relative to the current market price before entering a long position.

3️⃣ Benefits for Dip-Buy Strategies

Controlled entry: Ensures you buy at favorable levels instead of chasing the market.
Automated monitoring: Eliminates the need to constantly watch for dips manually.
Flexible sizing: Combine with Amount to scale positions based on confidence or risk tolerance.
Supports volatility strategies: You can define deeper dips (10–20%) for accumulation during high-volatility periods.

4️⃣ Best Practices

Set thresholds according to market volatility and the symbol’s typical price swings.
Use smaller thresholds for minor dips and larger thresholds for major retracements.
Combine with stop-loss and risk management rules to protect capital if the dip continues further.

Pro Tip