To create your smart trading positions, click on "Smart Trade" on the top navbar or visit this link: https://app.mizar.com/dashboard/smart-trading/terminal.
To learn how to use the Mizar Smart Trading Tool, watch this tutorial or read below.
Here you will get access to the trading terminal, where you can set up your smart trading position. Mizar integrated the Trading View Charting and Indicators to let traders use their favorite charting system directly on Mizar. Read here about what you can do on the Mizar Smart Trading Chart.
In the first section of the terminal, you need to set up the main settings of the position.
Order type: There are two different of order types: Market and Limit. When the Market type is selected, all the orders will be executed as market orders. Instead, when the Limit type is selected, all the orders will be executed with a special aggressive limit order strategy that will avoid price slippage.
Order side: The position has two different sides: LONG or SHORT. A Long position buys and then sells in order to generate profits. Instead, a short position sells and then buys in order to generate profits.
Exchange key: the exchange key where the orders will be executed.
Quote Asset: The second currency within the currency pair quotation. For example, if you want to go LONG on BTC with USDT, then USDT is your quote asset.
Pair: The pair that will be traded, for example, BTC/USDT
Once set up the main settings, the TradingView chart will be updated and you'll be able to visualize the current price of that pair on the selected market and exchange.
Once the main parameters are set, you can start to set up your smart trade. The first thing to do is to set up the entries. On Mizar, you are able to buy or sell cryptos on your exchange while adding some automatic functions. In this case, you are able to split up your position in multiple entries, which means, instead of buying all at once, you can split the investment into multiple parts.
If you don't want to split up your investment, then select the single tab. Here you will be asked to input some parameters.
In this view, you're able to visualize the available assets on your exchange, and invest part of it with the "Choose quick cost" function. For example, if you select 50%, you'll set as cost 50% of your available capital, in this case 22USDT.
Total: the total capital to invest, in quote asset. For example, if you want to buy 22 USDT of BTC, then the total cost will be 22 USDT.
Price: the price at which you want to execute the position.
Amount: the amount of asset you want to trade. For example, if you want to buy 22 USDT of BTC and the price in 22,968.24 USDT, then you will buy 0.000958 BTC.
Available: the amount of quote asset available in your exchange
If you want to split your total cost in multiple parts, then select the Multiple tab.
Entry cost: the total capital to invest. For example, if you want to buy 22 USDT of BTC, then the total cost will be 22 USDT. The entry cost will be split among the different orders based on the weights.
Entries: the different entries by which your investment (total cost) will be split
Price: the price at which you want to execute the entries
Weight: the weight on the total investment. For example, if your total cost is 22 USDT and you put a weight of 50%, then you will buy 11 USDT (50%) at the selected price.
Read more here to learn how orders are executed.
Take Profit Settings:
On Mizar, you can pre-set your take profit targets and let Mizar close the position for you, at different times, based on your settings. This will help you reduce risk of not taking profit or missing profit because you closed the position all at once.
You can take profit by setting fixed prices at which part of the position will be closed. In this example, you will close 50% of your position at a BTC/USDT price of 24,116.7 and the remaining price at 25,322.5.
Price: the price at which you want to execute the take profit (close the position in profit)
Weight: the weight of the take profit on the total cost. For example, if you bought 0.000958 BTC and you put a weight of 50%, then you will sell 0.0000479 BTC (50%) when the actual price reaches the selected price.
You can take profit by setting deviations from the average entry price at which part of the position will be closed. In this example, let's assume you bought BTC/USDT at an average price of 24,000. By settings your first take profit step at 5% deviation with a 50% weight, it means you will close 50% of your position at a BTC/USDT price of 25,200. The remaining assets will be sold at a price of 26,400.
Percentage: the deviation at which you want to execute the take profit (close the position in profit). The percentage is relative to the average entry price of the position.
Weight: the weight on the executed orders. For example, if you bought 0.000958 BTC and you put a weight of 50%, then you will sell 0.0000479 BTC (50%) when the actual price deviation reaches the selected threshold
Trailing Take Profit:
The stop loss function works exactly as the take profit function, but on the opposite side. It helps the trader to protect from losses when the price goes against the trader assumption. In this case, you will close the position at the set price or at the set percentage, when the triggers are hit.