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Key Balance Settings

Understanding and optimizing balance settings is crucial for the success of your trading strategy with Gunbot. These settings play a pivotal role in how Gunbot executes trades and manages your cryptocurrency assets.

Key Balance Settings in Gunbot

Trading Limit: Your Spending Control

The Trading Limit setting dictates the amount Gunbot can use for a buy order. It's defined in the base currency of a trading pair. For example, if trading LTC with BTC, set your limit in Bitcoin; for BTC with USD, set it in US dollars. Proper setting is critical to avoid unintended trade amounts or a complete lack of trades. It's also wise to set this limit slightly above the minimum trade size of your exchange to account for rounding and fees.

Minimum Volume to Sell: Ensuring Tradable Amounts

Min volume to sell specifies the least amount Gunbot will consider for selling, tailored to each trading pair and exchange. Setting this correctly ensures Gunbot ignores balances too low to be sold, thus focusing on viable trading opportunities. An incorrect setting could lead Gunbot to attempt selling below the exchange's minimum trade size, leading to failed transactions.

Minimum Volume to Buy: Setting the Purchase Threshold

Closely related to the previous setting, Min volume to buy determines the minimum amount for Gunbot's buy orders. This should typically match the Min volume to sell setting. In certain scenarios, Gunbot may split a buy order into smaller parts; this setting ensures each part meets the minimum trading criteria. Setting this too low might result in unsuccessful trades.

Note: The Min volume to buy setting is essential when using limit orders.