🔑 This is a quick overview of what the Elirox bot can do:

• Find the right moment to open and execute a trade based on one technical indicator.
• Make orders grids for every cycle to improve average entry prices.
• Keep your risks and drawdowns low while letting your profits flow.

Find out more about how to launch the DCA Elirox bot here.

Customizing bot parameters

In this article, we will walk you through setting up a DCA bot, utilizing all the features available in the Elirox app.

Step 1: Main settings

In basic settings, you can choose:

• Asset: Select the financial instrument you wish to trade.
• Position Type: Choose between a long or short position.

📈 In a long position, you speculate that the base currency will strengthen against the quote currency.

📉 In a short position in Forex trading, you speculate that the base currency will weaken against the quote currency.

• Investment: Define the investment amount in lots, making sure it fits your trading deposit size.

Step 2: Strategy settings

At this stage, you should decide how your bot will enter a trade. There are two options:

• Instantly: With this option, the robot will open a position right after the launch. Each new trade will also be opened instantly.
• By Indicator Signal: In this case, your bot will wait until the selected indicator generates a signal. Please note that this option requires some time for the indicators to generate a signal while your bot remains in a waiting status.