In today’s article, I’ll show you how to set up the RoyalQ bot so it can start trading for you.
RoyalQ bot is a quantitative crypto trading bot that maximizes your crypto trading profits.
It buys cryptos at a low price and sells at a high price to make a quick profit on your behalf.
Because it’s a programmable bot, you’ll need to set it up before it can start trading, which I’ll show you how to do in this article.
Already excited to learn? Then let’s get started!
This is an overview of what I intend to cover in this article.
- Definition Of Terms
- RoyalQ Trade Settings – Quantitative Strategy
- The RoyalQ Circle Feature – Synchronization/Copy Trading Strategy
Feel free to use the jump links to skip to the section that catches your fancy.
We have created a special series just for the RoyalQ bot.
This is to give you the best understanding of how the bot works.
Here is the third part of the RoyalQ bot series.
Make sure you keep your eyes peeled for new series that will be published soon.
1. Definition Of Terms
When setting up your Royal Q bot, you will be presented with different trade setting features.
Let’s have a look at what each trade settings entail:
- First Buy In Amount
Your “First buy-in amount” is the amount you want the bot to buy on its first buy attempt.
For example, when the bot buys for the first time, you can ask it to buy 10USDT worth of BTC using your trading capital.
- Open Position Doubled
By turning on this button, you are also instructing the bot to double the first buy amount after the first buy.
- Margin Call Limit
This is the number of times you want the bot to buy when the coin’s price falls.
By default, it will be set to 7, however, depending on your trading capital, you can change it to any number you want. Later, I’ll expand on this.
- Whole Position Take Profit Ratio
This is the percentage at which your take profit is activated.
For instance, you can set your take profit ratio at a 1.3% target.
This means that the bot can now comfortably take profit starting from this position.
However, note that the bot does not take profit immediately at this target. I’ll explain further below.
- Whole Position Take Profit Call Back
This is the percentage at which the bot takes a profit when your earnings start dropping.
Let’s say your “Take profit ratio” is 1.3% and your “Take profit call back” is 0.3%.
However, you have made a profit of 2%. The bot will sell if the market drops to 0.3% from the 2% profit.
- Margin Configuration
This is where you set up your “Margin call limit” properly. It is also where the power of the DCA strategy comes into play.
It has 2 features:
- Margin Call drops: Here you input the percentage drops where the bot should be triggered to buy coins.
- Multiple buy in ratio: Here you input the number of times it should buy a coin in each dip.
Note: The “Multiple Buy in ratio” is multiplied by your “Buy in amount”.
For instance, if your “First Buy in amount” is 10USDT and the “Multiple Buy in ratio” is 2 times. The bot will buy 40USDT worth of coins.
To set up the Margin configuration properly, it is wise that you adjust the settings according to your trading capital.
This is because the bot will not be able to carry out all your margin calls if your trading capital is depleted.
- Buy In Call Back
This is the percentage at which the bot should buy once a margin call configuration has been activated.
If you’re trading the BTC/USDT pair and your “Margin call drop configuration” is set at 3.5% while your “Buy in call back” is 0.5%.
This is how it goes:
If the price of BTC falls by 3.5%, a margin call will be triggered.
The bot, on the other hand, will buy if BTC rises by 0.5% from its 3.5% loss.
- Distributed And Take Profit Allocation
This is an additional setting that you can use to adjust your “Take profit ratio” at various margin calls.
It can only be used when your “Margin call limit ” exceeds 4 times.
Furthermore, it is also referred to as the “Sub-position mode”.
- Sub-position Take-profit Callback:
This is the “Take profit call back” that becomes effective when the “Sub-position mode” is activated.
- One-Shot Or Cycle
These are the 2 ways that the bot can trade for you.
You must pick between “One-shot” and “Cycle” while setting the bot to trade.
The term “one-shot” refers to the bot’s ability to trade only once and then close the trade.
“Cycle”, on the other hand, refers to the bot’s ability to repeat a trade several times.
- First Preset Buy in Price
This is your entry price or the precise price level of a cryptocurrency at which the bot should start trading.
- Stop Margin call
As the name implies, this stops the bot from trading your margin calls, if you feel the market is going against you.
This allows you to manually add up more funds to your trades to exit a trade in a bearish market trend.
- Sell: It allows you to manually sell a coin on a trade if you wish.
I’m hoping you’re still with me? If you have any questions, please leave them in the comments section.
Now, let’s get into the practical step-by-step of setting up your RoyalQ bot to trade.
2. RoyalQ Trade Settings – Quantitative Strategy
Before we proceed there are few things I will like you to bear in mind:
- RoyalQ bot will only conduct trades on your behalf based on the set of instructions that you have given it.
- Therefore, you should have a profitable trading strategy through which you intend to instruct it to trade for you.
- If you do not have one, don’t worry; I have also included a profitable trading strategy which you can use in this article.
- Furthermore, RoyalQ supports only USDT trading pairs (more about this later)
Having cleared the air, let’s continue.
How To Setup The RoyalQ Bot For A Trade
Below is how you instruct the RoyalQ bot to trade for you:
- Open your RoyalQ app, select the exchange you want it trade on and click “Quantitative”.
Furthermore, it can only trade on these exchanges if you’ve bonded them to your RoyalQ app via an API, as we did in the last post.
- When you click “Quantitative,” the USDT balance in your exchange will be displayed below the interface. Use the “search bar” to select the coin you want to trade, let’s say it’s a COMP/USDT pair.
- A COMP/USDT interface will display, click “Trade settings”.
- Instruct the bot on how it should trade for you by inputing your trading strategy.
- When you are done with the setup, click “Save”.
- On the new page, set your “First preset buy-in price” and click “Confirm”.
- All of your trade settings and positions will reflect on the trading pair page, as seen in the screenshot below.
- Next, select either “One-shot” or “Cycle” and then click “Start”.
If your margin call limit exceeds 4 times and you have set up your ” “Sub-position mode”, you will need to set up the “Strategy mode” too before clicking “Start”.
So please do this final setup instead of the former.
- Tap the “Strategy mode” Icon, a notification will pop up, click “Sub-bin mode-Real-time-settlement”, then “Confirm”. After that click “Start”.
That’s all! You’ve programmed your bot to execute a trade on your behalf, and it will be executed as soon as the trade targets are met.
Do you wish to have a profitable trading strategy which you can use to set up RoyalQ?
I am glad to announce that Nigeriabitcoincommunity in affiliation with CTmastery offers a free RoyalQ trading strategy.
To gain access to this free strategy, first activate your bot using the link attached to this post, then click here.
Impressively, our strategy gurantees up to 1-2% daily profit.
It’s worth noting that the well-explained and free RoyalQ online course on the CTmastery website will help you better understand our trading strategy.
If you have any further queries, you may contact us by joining our RoyalQ community via the link below:
I’ll teach you how to use the app to sync a profitable but paid trading strategy to your RoyalQ bot in the next section.
3. The RoyalQ Circle Feature – Synchronization/Copy Trading Strategy
RoyalQ allows users to sync the strategies of expert traders who have made up to or over $1000 in profit from their trading strategy.
This should pique your interest if you are an inexperienced trader, you don’t have a strategy at all, or barely have the time to set and reset your trading strategy.
So all you have to do is go to the homepage’s “Circle” option, search for traders with profitable trading strategies, and sync their strategies.
Keep in mind, though, that when you sync a trader’s strategy, he selects the coin you trade, and you pay him a fee each time you make a profit.
Let’s take a step-by-step walkthrough on how to sync the strategy of an expert trader on RoyalQ below.
- Open the RoyalQ app and select “Circle” from the menu.
- Here, you will be able to see the forums of all the traders that you can sync their strategies.
You can review each forum by clicking the “View” button attached to them.
- We’ll be syncing the “CryptoBull” strategy in this post. To do so, first select the “View” option attached to it.
- Once on the forum, click “Apply to join”.
Once you’ve joined the forum, you’ll be able to see things like the number of members, the Telegram channel, the percentage of profit made using the strategy, and so on.
You’ll also see a screenshot of the trading capital required to use the strategy and how many coins you’ll need to sync based on your trading capital.
“CryptoBull” has a total of 44268 users as of October 2nd, 2021, and has made an impressive profit of 14,738.91% with its strategy.
This can be seen in the image below.
- Click on the percentage profit to sync and begin using the strategy.
- You will see the exchanges where the strategy can be synched as well as the coins to trade.
From the screenshot, you can see that “CryptoBull” has a strategy for both Binance and Huobi.
Select the exchange you want to syn the strategy to and click “Sync strategy”.
- A new interface will be displayed. Follow the on-screen instructions to sync the strategy. This is how you’ll go about it:
- Set your “First buy in amount”
- Under “Number of strategies.” input the number of coins you wish the strategy to sync with
- “Profit-sharing” indicates the fee you will pay when you make profit from the strategy. From the screenshot, you can see that “CryptoBull” charges 1.5%.
- Turn on the “Synchronization opening double” if you want to double the first buy amount after the first buy.
Note that this fee is calculated separately from the RoyalQ gas fee (more about this later).
- Click “Sync Strategy” when you’re finished with the setup.
Congrats! you have synched a trading strategy to your RoyalQbot.
Now, to view your ongoing synched trade, you can return to the “Homepage” or go to the “Quantitative” interface.
Over there, you will see the coin the trade has synched with and further details about the trade.
Have further questions? Let’s meet in the FAQ section!
Well, apart from the RoyalQ activation and gas fee of around $140 which we discussed in the last post, you will also need trading capital.
The trading capital could be any amount, starting from 50USDT in your exchange account.
However, to make a significant profit, you should increase your trading capital to 100USDT at least.
Note: it is not advisable to set your “First buy in amount” using your whole trading capital. Instead, you should split it using a DCA approach.
The reason for this is that the market may go against you so easily if you do so.
Your trading profits go to your exchange account.
And you can withdraw them in the same way you make withdrawals from your exchange account.
The bot trades USDT pairs alone and it must buy a coin using the USDT you have in your exchange account.
The RoyalQ team charges you a 20% gas fee each time you make a profit using its platform.
Do note that you will also be paying an additional “Profit sharing” fee if you have synched the strategy of any trader on the platform.
This fee, however, is determined by the trader and it goes to him and not to the RoyalQ team.
To summarize, each time you profit with RoyalQ, your fee is calculated as follows:
1. 20% gas fee – if you are using your strategy or a free strategy like the one I revealed in this post.
2. 20% gas fee, plus a “Profit sharing fee” – If you have synced to the strategy on RoyalQ “Circle”.
There are no pre-determined criteria, but here’s what I can tell you:
1. Look for forums with a large membership.
2. Sync strategies that have a proven track record of success.
The truth is that you will always make gains and losses in crypto trading.
You suffer a loss when the crypto asset you have bought falls below the price you bought it at.
While you profit when the asset you bought appreciates above the price at which you bought it.
To hit the nail on the head:
It is possible to incur losses if the price of a crypto asset falls below the price at which the bot has bought it.
In RoyalQ, this is known as “Floating loss.”
The good thing, however, is that RoyalQ will always sell your coins for a profit.
I mean, it will never sell your coins at a loss; instead, after the market recovers, it will sell them at a profit.
Gladly, the RoyalQ team also included some features that can help you limit your losses.
Yes, you can. This is as a result of personal mistakes, which I will mention below:
1. Setting up the bot to trade coins that you wish to hold for the long term.
2. Not configuring your margin calls properly, such that it affects your trading
3. Allowing the bot to trade with the already generated profit which you do not want it to trade with.
You can hit me up in the comment section to explain this further.
Do you want to learn how to trade cryptocurrencies profitably?
We developed a perfect course to help you master Cryptocurrency Trading.
The 3rd part of the RoyalQ bot series has come to an end.
RoyalQ is a legitimate crypto trading bot that aims to maximize your trading profit.
It has the potential of making a 30%-50% monthly profit for you in cryptocurrency trading.
What do you think about this bot?
Have you finally learnt how to instruct the RoyalQ bot to trade for you?
Do you have other questions to ask?
Please leave your thoughts and I’ll respond.
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Previously published RoyalQ Series: