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STYLES of Use

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.

sTYLE Number 1
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 “Position size in alert” to 300.
Why 300? 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. To calculate the right position size for any other capital size, simply divide your capital with the maximum number of entries in TradingView.

 

While you have set your “Max open tickers” in Webhook to 1 and WizeDec settings have “Maximum entries” set to 5, we have to divide our USDT/BUSD balance (1500) with 5.

“Max open tickers” 1 X “Maximum entries” 5 = 5
1500 USD/BUSD / 5 = 300

sTYLE Number 2
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 “Position size in alert” to 100.
Why 100? 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, this comes out to 500 USDT. Now, to get the position size for each entry, you should divide this by the number of entries. In our example, we would divide this by 5, giving us 100 USDT for each entry. 

 

While you have set your “Max open tickers” in Webhook to 3 and WizeDec settings have “Maximum entries” set to 5, we have to divide our USDT/BUSD balance (1500) with 15.

“Max open tickers” 3 X “Maximum entries” 5 = 15
1500 USD/BUSD / 15 = 100

sTYLE Number 3
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 “Position size in alert” to 42.
Why 42? 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 and then divide the 214 into 5 parts to get the amount for each entry. This comes out to be approximately 42.

 

While you have set your “Max open tickers” in Webhook to 3 and WizeDec settings have “Maximum entries” set to 5, we have to divide our USDT/BUSD balance (1500) with 35.

“Max open tickers” 7 X “Maximum entries” 5 = 35
1500 USD/BUSD / 35 = 42

TIPS for setups

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. 

Head to “Results” page to get started with choosing the best coins to trade with WizeDec.
 

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

 

WizeDec’s Info Panel arranges templates from highest to lowest based on net profit (red box). 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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