How do I use recurring buy trading bot? (2024)

Trading bots are automated software programs designed to assist traders manage their crypto trades. These bots offer various advantages that can enhance trading strategies and potentially increase portfolio growth. For more details, visit here.

What are recurring buy trading bot?

We offer a variety of automated trading functions as part of our trading bot, including recurring buy. It allows you to automate regular purchases for up to 20 different digital currencies, select the time, frequency, amount, and relative percentage asset allocation of the purchases.

How do I set up recurring buys?

On the app

1. Open your OKX app, go to Homepage and select Trade

   

   Select Trade from the Homepage

2. In the Trade menu, select Trading bots
   Note: it's only available for the spot market. Make sure to choose a spot trading pair from the menu.

   

   Select Trading bots from the trade menu

3. Select Recurring buy from the bot list in the main menu

   

   Select recurring buy from the menu

   

   Alternatively, select recurring buy from the menu

4. Select the asset you wish to purchase. Then, select the frequency, purchase time, and purchase amount
   Note: for frequency, you can choose it to be on an hourly, daily, weekly, or monthly basis. For weekly or monthly options, select the specific day of the week or month for your purchase.

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   Select the frequency, purchase time, and purchase amount based on your preference

5. To add more, select New Crypto and select from the menu

   

   Select New Crypto to add

   

   Select your preferred crypto from the menu

6. You can set percentages of the total buy for different currencies. For example, with a 100 USDT monthly buy, you can allocate 50% to BTC, 30% to ETH, and 20% to OKB. Select delete to remove an asset

   

   Set percentages for different currencies

7. Check the details on the order confirmation page, select Done to confirm order

On the web

1. Log in to your account at okx.com, select Trade > Trading bots from the navigation bar

   

   Select Trading bots from the trade menu

2. Select the Recurring buy option from the Trading Bots page

   

   Select recurring buy from the menu

3. Set the bot's parameters:

   • Select your preferred crypto from the Crypto Allocation menu.

   • To add multiple assets, select Add Crypto below the menu. You can only add up to 20 cryptocurrencies.

   • If you’re buying multiple cryptocurrencies, you can allocate percentages of your total buy to each asset.

4. In the Basic Information section, decide on the frequency and time for your buys. Enter the total USDT amount, and select Create to continue

   

   Select the recurring period, purchase time, and purchase amount based on your preference

5. A pop-up will show a breakdown of your order. Select Confirm to place the order and start the bot

How do I check and cancel recurring buys?

On the app

1. To check your buy, go to the trading page

2. Select Bot, then select Recurring Buy to view order details (including profit, loss, and total amount allocated)

3. You can close the order anytime by pressing the Stop button

Note: we don't separate funds in your trading account from future purchases. If your trading account runs out of money, it'll automatically pause. It'll resume based on the parameters you set and/or when you have enough funds in your account again.

On the web

1. You can check your open buy positions in the trade history section under the Bots selection at the menu of the Basic Trading page

2. Select Stop (next to the relevant order) will cancel future buys

FAQ

What's the minimum investment amount for recurring buy bot?

The minimum requirement now is 2 USDT, which is lower than 10 USDT set previously. This is in order to allow greater flexibility for our users to set up a recurring buy bot with lesser funds.

The amount has now increased to no less than 2 USDT

How does the USDC currency switch works?

Users can easily switch between the various stablecoins on our Order page on either app/web platform. Whereas, previously users could only buy USDC-supported coins via the bot on the web version only.

Switch your currency effortlessly at the Investment amount

Is it possible to pause/resume the recurring buy bot?

Yes, users are able to pause/resume it as we're providing more control and freedom for users should they have to stop Dollar cost average (DCA) for several reasons. They're allowed to review their cumulative Profit and Loss (PnL) performance without any disruption to the user experience.

Select Pause to pause your trading or otherwise to resume

Can you set up a buying price range on Recurring buy bot?

Yes, you can set it up via the Advanced settings > Buying price range advanced. This can ensure the recurring buy bot runs on auto-pilot, and prevent you from closing the bot manually to prevent buying cryptos outside of their preferred price range, ensuring a strategic purchase each time.

Set the preferred criteria in the Buying price range section