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How To use WizeDec
v3.2

This is the WizeDec Quick start guide that helps you to get started by following 4 main things:

Step 1.

GENERATING NEW API KEYS

Time: 4 minutes

Step 2.

  WIZEDEC

WEBHOOK / 

AUTOMATION

Time: 3 minutes

Step 3.

FINDING 

CONFIGURATIONS

Time: 20 minutes

Step 4.

 

SETTING 

ALERTS

Time: 2 minutes

If you have an active WizeDec Subscription, a TradingView account with at least a PRO plan and you follow those step-by-step then

you will have WizeDec up and running within 30 minutes.

Image by Andrew Kliatskyi

1. GENERaTINg NEw aPI KEys

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Time for completion :
4 minutes

1.1

Go to your exchange and create new API keys for your account. When using Binance, make sure that you also toggle “Enable Spot & Margin Trading” from the permission of the API’s.

1.2

Make sure to IP-restrict your API keys to

172.105.81.46

1.3

Save generated Keys safely to your computer.

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2. WIZEDEc WEbHook/ AUtOMATION

Time for completion : 
3 minutes

2.1

Create a WizeDec Webhook account. This is free and does not require you to enter personal details either.

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WEBHOOK

2.2

Connect the API’s that you created to the WizeDec Webhook. These API's are used to give permissions to the WizeDec webhook to execute orders on your behalf. When creating the API, an API key and Secret key are generated. You will be able to see the Secret key only once, so make sure that you copy this to the Webhook correctly.

2.3

The WizeDec Webhook has a simple interface and is easy to understand. Find all the necessary information to get started with on the picture below.
1. Paste your new API Keys and click on "Update info"
2. Set how many different coins you want to allow to be kept open at once and click on "Update info" You do not have to change anything else when first starting off.

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Image by Adam Birkett

3. FINDInG CONFIgURaTIONs 

Time for completion: 
20 minutes

3.1

Apply the WizeDec Strategy to your TradingView chart. You will find find it under Invite-Only scripts. Click on WizeDec Pro  and Strategy will appear on your chart.

3.2

Import good performing list of cryptocurrencies that work on 30-minute timeframe:

https://www.tradingview.com/watchlists/96152805/


Click on ""Save as watchlist".

3.3

Use our Data page to find yourself suitable cryptocurrency and its Risk Level and Template number. In this video example we have chosen ATOMUSDT with Risk Level 7 and Template number 8.

3.4

Open chosen ticker (ATOMUSDT in our example) on a 30-minute chart. Next, open WizeDec settings and apply the right Risk level and Template number to the corresponding cells.
DO NOT FORGET WizeDec Webhook inputs (explained below).

Webhook inputs

Here you can set all the necessary values in order to enable automatization via the WizeDec Webhook. In the Webhook, you are assigned a unique user ID, which is used to identify your account. Total allocated capital input is used to set how much capital you want to allocate to a trade on any one ticker. The final position size will be calculated by the script automatically, taking into account the allocated capital, the number of maximum entries and the position multiplier input.

Should a trade reach the maximum number of entries, then your whole allocated capital will have been used. 


Minimum capital if “1.5x Position multiplier” is turned OFF - 100

USDT/BUSDMinimum capital if “1.5x Position multiplier” is turned ON - 200 USDT/BUSD

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3.5

Finally, if you are done with finding a suitable setup for yourself and are looking to automate it, it is best practice to save these settings as a template so that it would be easier for you to check on a particular setup. 
Remember to tick "Remember symbol" and "Remember interval"

3.6

As you can see, with the WizeDec Data page, finding and applying a profitable Risk Level and Template number does not take longer than a few minutes. Repeat steps number 3.3 - 3.5 and run as many tickers simultaneously you like.

More running tickers can give you more frequent entry opportunities but remember that quality always beats quantity.

 

4. SETTINg aLErTs

Time for completion : 
2 minutes

4.1

Once you have configured your coin to your liking and have saved the template, right-click on the chart and click on “Add alert”.

4.2

From the first dropdown menu, select "WizeDec Pro" . From the second dropdown menu, select "alert() function calls only".

4.3

Choose the “Expiration time” according to your TradingView subscription.

The option of “Open-ended” alerts is currently only available for Premium TradingView users

4.4

You should be able to select a date up to 2 months from the current date.

Example: Today is the 7th of October, so you can choose the 6th of December. 

Do not forget to update the “Expiration time” at least once every two months. 

4.5

Tick the “Webhook URL” option and paste the following URL to the opened field:

https://www.wizedecwebhook.com/webhook 

4.6

Click on “Create” and you will be all set. To use the WizeDec Webhook, you only need to set one alert per coin. 

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Congratulations! You now have WizeDec up and running!
Below you will find additional information you might find useful.

Below are some different ways you can trade with WizeDec.

In these examples, we will be using default settings in TradingView and will assume a capital of 1500 USDT.

Styles of use

High Risk Trading

This method of trading maximizes the use of your equity by only letting one trade be open at any given time. High Risk Trading means that you will have the chance to get the highest possible profit. However with high rewards come higher risks. Expect high volatility in your equity, because your capital will be entirely dependent on one trade.

To start High Risk Trading, set the “Max open tickers” to 1 in your WizeDec Webhook account.

 

Now, open your WizeDec settings in TradingView and set your “Total allocated capital” to 1500.
Why 1500? This is because you have only allowed one trade to be open at any given time, meaning if this trade reaches the maximum number of entries, then you will have used up all of your equity.

Medium Risk Trading

Medium Risk Trading divides your balance between 3 different cryptocurrencies to disperse risk but lets you use a good amount of your balance for each entry. You will experience medium trading volume and medium volatility in your equity. However, you are no longer dependent on the outcome of one trade, as other trades can cover for a bad trade. 

 

To start Medium Risk Trading, go to your WizeDec Webhook account and set your “Max open tickers” to 3.

 

Next, open your WizeDec settings and set your “Total allocated capital” to 500.
Why 500? This is because you are now allowing for 3 different trades to be open at any given time and you want to make sure that you have enough funds to be able to be in all positions at once. Any one trade will thus be able to use a maximum of a third of your capital. In our example, we would divide our total capital by 3, giving us 500 USDT for each trade. 

Low Risk Trading

Now, don’t get it wrong, Low Risk Trading does not mean that there is no risk at all, but it will definitely take your risk with default settings very low. You will experience a high number of trades, but low volatility in your equity.

 

To start Low Risk Trading, go to your WizeDec Webhook account and set your “Max open tickers” to 7.

 

Next, open the WizeDec settings in TradingView and set your “Total allocated capital” to 214.
Why 214? The logic behind this is very similar to what is described under Medium Risk trading. The only difference is that instead of dividing your equity up into 3 equal parts, you are now dividing it into 7 parts. This is because you are now allowing up to 7 different trades to be going on at the same time and you want to make sure you do not run out of funds. 

 

So, in our example capital, you would divide 1500 by 7 (≈214) to get how much would be allocated for any one trade.

TIPS for finding setups with WizeDec info panel

With the cheapest TradingView plan you can set 20 server-side alerts - this means you can run up to 20 cryptocurrencies at once with your selected risk style. 
 

Here are a few tips to help you choose the right template for your preferred cryptocurrency.

 

WizeDec’s Info Panel arranges templates by default from highest to lowest based on net profit (red box). You can choose to arrange the info panel by percentage profitable in the WizeDec settings. When choosing your template, it’s best to not only look at the “Net profit” (red box) column, but also pay attention to the “Profitable” (yellow box) and “WizeDec Index” (green box) columns.

For our example, we have chosen template number 5. Although this template does not have the highest profit of all the templates, it has a very high profitability percentage of 94.4%. This indicates higher stability and better performance in the long run.

 

Additionally, both of the dots for the 5th template are green. This means the template has a relatively low drawdown - indicated by the “Low DD” column - and the equity growth has been stable - indicated by the “WizeDec Index” column. 

 

Lastly, in the Strategy Tester panel, we can see a very nice equity growth. The straighter this equity growth line is, the more stable and better the template is.

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Highest net profit

To find the templates with the highest net profit, open the WizeDec settings and sort the info panel by net profit. Work through the “Risk Level” input while looking at the WizeDec Info Panel. The best combinations have green dots for the WizeDec Index, a high percent profitable reading and a high net profit. 

 

In the example below, the best option for our trading style seems to be template 9 with the 3rd risk level. It has a high net profit, while still maintaining a high percent profitable number.

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Highest  percentage profitable

To find the templates with the highest profitable number, open the WizeDec settings and sort the info panel by percent profitable. Work through the “Risk Level” input while looking at the WizeDec Info Panel. The best combinations have green dots for the WizeDec Index and Low DD, a high percent profitable reading and a high net profit. 

 

In the example below, the best option for our trading style seems to be template 2 with the 11th risk level. It has a high percent profit, while still maintaining a high net profit number.

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