Ok so it begins, I’ve fired up my Jade with $150 to trade with ( I know and $0.08 lol )
I’ve made a few mods to the settings, screen shots bellow.
I increased the Target Profit to 2.5% just to start this off and put a trailing stop of 0.5% and I added a blacklist of coins that I didn’t like but might take them off the list in time and I think that’s the only changes I have made from the original article.
I need to make $2.50 daily which is about 1.67%, now I could set my Target Profit on Jade for 1.67% but it’s not that simple, you see Jade can trade $150 in one go but you would be taking away some safety barriers to do that, a bit risky unless you know what you are doing, Jade out of the box on basic settings will only trade a little of the $150 and use the rest as your average down orders this is a much safer strategy, you can change all these setting in advance mode and do what you like, Jade is very customisable. I’m using the advance settings to make my tweaks but I have left the basic Safety Nets as it is because they are good, let me see if I can explain how this works.
Because I have my Jade set to 3 open positions, it will split that $150 in to three which means when an order is opened it will use $50 which will be spread across the First Buy order and the Average Down Orders.
This means that Jade might open a trade of $10 which leaves $40. Because I have a Max. Average Down Orders of 3 it will spread that $40 across the rest of the Average Downs.
Average Downs are basically limit orders that Jade places and the value of each limit order increases the lower it goes down, by doing this it will change your sell target from the original target to a lower target which will make it easier to hit.
This is how it looks visually on a chart when Jade opens a trade
If the candle goes down past the first safety net Average Down Order it will get triggered and the sell target will move, this will repeat if the candle goes down to the next Average Down Order.
So the $2.50 daily which should be 1.67% is actually, if my calculations are right, 25% because each trade Jade opens starts with $10, so hitting 25% in one trade is gonna be a mission and a half, I guess I could see if I can try and get 5 trades a day that can hit 5% which won’t be an easy task but I do have Jade set to trade 3 positions, so maybe it’s doable, although I have set my take profit to 2.5% to start. Yes I could change the Safety Net settings so that Jades open trades would be more than $10 or just have a max of 2 trade positions open but lets just get started and take it one step at a time. Just remember I’m not a professional at this but I’ll give it my best shot.