Frequently Asked Question
Q: Do I have to make a subscription before creating an account? A: No, you don't have to. First, create your trading account. This allows you to connect your API keys and select your preferred trading bot. After these initial steps, you can proceed to choose your subscription plan. This sequence provides you with the flexibility to explore our services before committing to a payment plan.
Q: I made a subscription. How long until I can start my bot? A: Once you've activated your chosen subscription, your trading account should reflect these changes within a maximum time frame of 12 hours. However, updates usually occur more swiftly, and you'll receive a notification on your trading account confirming the activation. This slight delay ensures that all configurations are set correctly for optimal trading performance.
Q: I changed my subscription plan. How long for changes to take place? A: After you changed subscription, it may take up to 12 hours for changes to appear on your trading account. Normaly it will change faster and you will get notification on your trading account as well.
Profile setup and API
Q: Is it safe to use and safe to connect my API keys? A: Safety is a paramount concern for us. WizeDec is engineered with advanced security measures that adhere to industry-leading protocols. We take multiple steps to safeguard your API keys and personal information. Additionally, our trading bot is designed to execute automated trades on your behalf, but crucially, it doesn't have direct access to your funds. This design adds an extra layer of security and peace of mind. Furthermore, WizeDec operates within a tightly secured trading environment. All transactions are fully encrypted, providing robust protection against any unauthorized third-party access or interference. Overall, we've implemented a comprehensive approach to security, ensuring that your trading experience is both efficient and secure.
Q: What API restrictions should be endabled? A: Only premission your generated API needs is “Enable Spot & Margin Trading”
Q: Where to restrict my API IP? A: Restrict your API to our trading server IP: 220.127.116.11
Q: I generated my API keys and saved them safely to my computer. What next? A: Navigate to your Profile page and look for the "Binance credentials" section. Click on "Edit" and paste your API keys into the appropriate fields, then hit "Update." Our system will automatically verify the permissions and IP address. If everything checks out, your API keys will be linked to our server. While it might take a few minutes for the connection to be established, you'll know it's successful when the first few characters of your API key become visible in your account.
Q: What does the "Trading capital (USDT) I Max" cell mean? A: The "Trading capital (USDT) I Max" cell indicates the total amount of USDT (Tether) you're allocating for the WizeDec trading bot to use. The maximum amount you can allocate is determined by your subscription plan. For instance, if you are on the "WizeDec 1000" plan, the bot will use up to 1000 USDT for trading on your behalf. If you have multiple active trading bots, your allocated trading capital will be evenly distributed among them. For example, if you have 4 active bots and your total capital is set at 1000 USDT, each bot will be allocated 250 USDT for trading (1000 USDT total capital divided by 4 bots equals 250 USDT per bot). This setup allows for a diversified and balanced trading strategy.
Trading Bots and trades
Q: How do I activate a selected bot? A: Activating a selected bot is straightforward. Navigate to the "Bots" tab, and in the search bar, locate your desired bot using the "Search bot..." field. Once you've located it, simply click "Start." For a visual guide on the process, click the "How to use" button at the top of the page.
Q: How many bots can I run simultaneously? A: Currently, you can run up to 25 different bots simultaneously. We suggest running 5-10 trading bots simultaneously for maximum profit and safety balance. For example, if you have 4 active bots and your total capital is set at 1000 USDT, each bot will be allocated 250 USDT for trading (1000 USDT total capital divided by 4 bots equals 250 USDT per bot). This setup allows for a diversified and balanced trading strategy.
Q: How many trading bots should I run simultaneously? A: The number of trading bots you should run simultaneously depends on your preferences and risk tolerance. If you run a single bot and dedicate your entire capital to it, you have the potential for the highest possible return, but this approach also introduces a higher level of risk. On the other hand, if you choose to run more than one bot (up to 5), your risk is diversified, but your total gain is also averaged out. For example: Running one bot with a return of +21% means your entire dedicated capital experiences a gain of 21%. Running 5 trading bots with individual results of +7%, +12%, +22%, +7%, and +14% results in a total capital gain calculated as follows: (7+12+22+7+14) / 5 = 62% / 5 = +12.4%.
Q: How can I identify which bots are active? A: Active bots can be viewed on the "Active" bots page.
Q: What happens if I stop an active bot? A: If you stop an active bot, any currently open trades with this bot will be closed, and the bot will be stopped.
Q: How long will it take for the first trades to appear? A: The first trades may appear within a few hours or a few days, depending on the market conditions.
Q: Can I close an individual active trade? A: Yes. Navigate to the "Trades" tab and locate the active trade you wish to close. Next to every trade, you will find three dots. Clicking on these dots will reveal an option to close the trade.
Q: What happens if I close an active trade? A: Upon closing an active trade, all active positions within that trade will be closed, and the bot can start searching for new entry opportunities.
Q: What does "Status" signify in trades? A: The "Status" column in trades indicates the current state of each trade. If the box under "Status" is blue, it means that the trade is currently open. You can see the number of positions this trade currently holds, with a maximum of 5 positions possible for one trade. If the box under "Status" is orange with the text "Closed", it signifies that the position is closed.
Q: My question wasn't answered here. What should I do? A: If you have any other questions or need assistance with a particular task, feel free to contact us via email at firstname.lastname@example.org.