How To Use Auto-Strat On BONKbot

In this guide, we'll walk you through everything you need to know to set up and use Auto-Strat on BONKbot, from initial configuration settings to deploying your saved strategies. Get ready to trade smarter, not harder!

What is Auto-Strat?

Auto-Strat is a powerful new BONKbot feature that allows you to create and deploy preset combinations of take-profit and stop-loss orders, automating your trading strategies.

You can set up Auto-strat by defining the trigger conditions and percentages for selling or buying.

Think of it as your own personal trading assistant, working tirelessly behind the scenes to execute your plans.

Here's how Auto-Strat benefits you:

• Strategic Trading Automation: Instead of manually placing multiple orders for every trade, Auto-Strat lets you predefine your exit points and risk management parameters. This frees you up to focus on identifying opportunities, rather than micromanaging individual orders.

  
  

• One-Click Deployment: Apply an entire strategy with a single click, saving valuable time and significantly reducing the risk of manual errors. No more fumbling with individual order settings while the market moves against you.

  
  

• Strategy Saving and Reuse: Save your successful trading configurations and reuse them on future trades. This allows you to create a consistent and efficient workflow, building a library of proven strategies that you can deploy at a moment's notice.

  
  

How To Configure Auto-Strat

Step 1: Accessing Auto-Strat

First, click on “Auto-strat” on the main interface.

If no Auto-Strat is configured, then you'll be prompted to configure one. You can choose to configure or cancel to return to the previous menu.

Step 2: Auto-Strat Configuration Menu

You'll then be taken to the Auto-Strat configuration menu.

Here you can click the button which says "+Add TP / SL".

Step 3: Entering Trigger Value for TP/SL

You'll be asked to enter a trigger, either as a multiple or a percentage change.

Enter your desired trigger value (e.g., "-20%").

Step 4: Entering Transaction Percentage

Next, please enter the percentage of holdings to sell (0-100%).

Step 5a: Entering Sell Amount

On the next step, you'll be prompted to enter the sell amount upon trigger activation from 0-100%.

Step 5b: Order Confirmation

BONKbot will show the final order, with the option for a Trailing Stop Loss if the sell order is below the current price.

Step 6: Activating Trailing Stop Loss

To activate Trailing Stop Loss, click the "Trailing" toggle to activate/deactivate. A green icon will indicates it's active.

Step 7: Confirming the Order

Press "Confirm" to save the order, returning to the Auto-Strat menu with the new preset order displayed.

Key Considerations for Auto-Strat:

1. Trailing Stop Loss (TSL) vs. Fixed Stop Loss (SL): A fixed stop loss triggers a sell order at a specific price point. A trailing stop loss, on the other hand, adjusts dynamically as the price increases, locking in profits while still protecting against downturns.

   
   

2. "Clear" Button: Use the "Clear" button to remove individual orders from your strategy.

Pro Tip: Toggle "Auto Apply" ON and any coin you buy will automatically have this Auto Strategy applied. This is a huge time-saver for consistent strategies.

How to Set Up Auto-Apply

Auto-Apply takes trading automation to the next level by automatically applying your chosen strategy to every trade on BONKbot. 

All you need to do is click "Auto Apply" button and watch the icon turn green, you'll see "Auto Apply Active" being added to the title.

Important Note: For Auto-Apply to activate, you must have at least one order defined in your strategy. If there are no orders, Auto-Apply will not turn green, and you'll see a message prompting you to add an order.

How to Cycle Through Strats

BONKbot allows you to create multiple Auto-Strats, each tailored to different trading scenarios. 

Here's how to cycle through them:

1. Click “Next” to cycle through strat configuration

2. The screen will cycle to the next strat, before looping back to the beginning.

How to Change a Strat's Settings

Need to adjust your default trading settings for a particular strategy? 

Here's how:

1. Click settings on the desired strate and you'll be shown the key toggles, such as Priority Fee, Slippage, and MEV Protect.

   
   

2. Then you can adjust settings as you normally would. The Priority Fee will change to "Custom" if a custom fee is set.

How to Rename a Strat

Give your strategies meaningful names so you can quickly identify them. 

Click “Rename” on the strat you want to rename and you'll be prompted to enter a new name. Once the name has been set, the screen will return to the autostrat menu with its new name.

How to Use Auto-Strat Once Configured

Now that you've configured your Auto-Strats, using them is simple.

When placing a limit buy order, click the 'Auto-Strat' button. It will toggle to show the name of the currently selected strategy. Click the button repeatedly to cycle through your saved strategies, or to turn Auto-Strat off entirely.

Make sure to pay attention to the 'Confirm [Strategy Name]' button, as this is the strategy that will be applied to your order.

Step 1: Click Auto-strat and then the "Confirm [ currently selected strat name ] button" will appear.

Step 2: To cycle through active strats, click the button again.

Step 3: Next strat is shown

Step 4: Click again to toggle OFF

Final Words

BONKbot's Auto-Strat is a game-changer for traders looking to automate their strategies, manage risk effectively, and save valuable time.

By pre-defining your take-profit and stop-loss orders, you can execute complex trading plans with a single click, ensuring consistency and reducing the potential for manual errors.

Start experimenting with Auto-Strat today to take your BONKbot trading to the next level!