 | Since so many of you use DCA as your main trading strategy, I decided to write a tool that will make it easier for you to DCA as well as provide better reporting than what's currently available on exchanges like Binance. The tool is written in Python and aims to solve, what I consider to be two main issues when DCAing through an exchange like Binance:
I always found it strange that some exchanges don't seem to allow you to easily see your average buy price for all of the buys of a particular asset. That would have helped me a lot in figuring out if my DCA strategy is the right one or whether I need to adjust something. I think some of you experienced the same issue, so I created this tool to help with that, as well as automate your DCA. The tool will store the price of each DCA and plot this in a graph for each coin you are DCAing. It will also provide you with your average buy price by taking into account all the orders on any asset you give it, and will generate a png file that will allow you to see how your strategy is doing at a glance. Here are some examples, below I'm simulating a DCA every 7 days but I altered the script to do it every 7 seconds just to verify that the reporting works as expected: The whole point of DCA is keeping track of your average buy so these graphs plot each order (X axis) and the buy price for each (y axis). I included a test mode so you can just play around with it if you want. Source Code: https://github.com/CyberPunkMetalHead/binance-dca-crypto-trading-bot Step-by-step guide on how to set it up: https://www.cryptomaton.org/2021/12/22/dca-crypto-trading-bot-binance/ How I actually built the tool: [link] [comments] |
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