5) Generate automated positions
The step-by-step tutorial to master Crypto Excel.
In the previous section, we set up exit positions for a cryptocurrency. If you follow the news and/or know how to analyze trading curves, you know how to set up formidable exit positions to maximize your profits.
But there are several drawbacks: first of all, it's time-consuming to follow cryptos day after day.
Secondly, you need to define your target prices TP1, TP2, TP3 and SL for each cryptocurrency you hold, in addition to updating these values every time the market has moved.
Let's look at another method in which your exit positions are generated automatically.
I) Automatic exit positions, based on average purchase price
Click the button “Sell alerts”.
To display the video below fullscreen, double-click or press the “F” key.
In the first row, define multiplier coefficients corresponding to the profitability you wish to achieve. For each cryptocurrency you hold, Crypto Excel will calculate target prices based on the average purchase price. For example, if you enter x2 in TP1 and x0.75 in SL, you'll be notified when you've doubled your gains or suffered a 25% loss. NB: The values you enter in the TP1-2-3 fields must be greater than 1, and the value in the SL field must be between 0 and 1.
In the second row, set the exit percentage as previously done in 4) Set up exit positions.
Once this has been done, Crypto Excel automatically generate values in the fields TP1, TP2, TP3 and SL, for all the cryptocurrencies in your portfolio (as well as those you'll integrate later)!
Manual setting overrides the automated setting
If you wish to define manual positions as we did in 4) Set up exit positions, this is still possible.
In this case, the manually defined exit positions will systematically take precedence over the automatic setting.
To display the video below fullscreen, double-click or press the “F” key.
Feel free to combine the best of both worlds, for example:
For most of your cryptocurrencies -> Automated settings.
For some cryptos you know well -> Customized target prices.
II) Minimum Profit/Loss conditions
The popup "Generate automated positions" contains a third row that we haven't covered yet.
Let's say that the target price you are aiming for has been reached, and it's time for you to take profits.
However, when you look at how much you've earned, it's actually a very small sum.
Do you want to spend time closing a position that will only have a marginal impact on your portfolio? Probably not.
On the other hand, your dashboard may become saturated with sell alerts and you may not spot those that are truly important.
To get around this, we've added an additional condition to the display of sell alerts.
In this third row, you can set up minimum profit thresholds (for TP1, TP2 and TP3) as well as a minimum loss threshold (for SL).
Until this threshold has been reached, the sell alert will not be triggered, even if your target prices have already been reached.
To display the video below fullscreen, double-click or press the “F” key.
This setting applies to:
exit positions defined manually in 4) Set up exit positions (such as Solana in the example)
automated exit positions defined above (such as Bitcoin in the example).
N.B.: This setting is optional, so you can ignore it if you don't want to use it.
Feel free to comment if you have any questions. We'll keep improving this documentation based on your feedback.
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