This article explains how Gunbot handles these fees to optimize your trading strategies.
Setting Up Exchange Fees in Gunbot
In Gunbot, setting the average expected fee level is a straightforward process. This is done when you connect to a cryptocurrency exchange, allowing Gunbot to account for these fees in its operations.
How Gunbot Uses the Fee Information
Gunbot uses the configured fee level to calculate the unit cost of assets held. It ensures that profit targets are consistently set above the fee level. This approach helps in maintaining the profitability of trades by accounting for the costs associated with exchange fees.
Best Practices for Setting Fee Levels
It is recommended to set the highest fee level you might expect. This conservative approach helps in safeguarding against any unexpected increase in fees, ensuring that your profit targets remain realistic and achievable. Refer to your exchange support documents to find which fee level applies.
Conclusion
Correctly configuring exchange fee levels in Gunbot is vital for effective and profitable trading. By anticipating the highest possible fees you can enhance the accuracy of your trading strategies and maintain profitability.