Trading
Last updated
Last updated
Now that you’ve done the research, it’s time to make your first trade. But, before you do that, you need to check your settings.
BullX’s Order Settings have three different sections:
Priority Fee: Additional fees you can pay to increase the speed and likelihood of your transaction confirming.
Slippage: The % amount of change in price that you will allow while waiting for your transaction to confirm.
MEV Protection: This is the most complicated of the three settings. Sometimes, bad actors are able to see your incoming buy before it is confirmed. They can then buy a huge amount of the token right before you and sell it right after you, causing you to suffer an instant loss. MEV Protection allows you to pay an additional fee to help ensure that this does not occur to you. The hand-and-coin icon at the top right corner of BullX shows the current minimum MEV Bribe amount. As long as your MEV Protection fee is higher than the specified minimum bribe, you should be safe from MEVs. MEV Protection is not necessary for your sell settings.
You can create up to five different settings presets for both buying and selling. Pay lower fees in low volume situations and higher fees in high volume situations to help ensure your trades confirm.
The simplest way to trade, market buying and selling allows you to make your trade in full at the current token price. Just enter the amount you’d like to buy or sell and confirm. Select an amount to trade from the preset buttons, or type in a custom amount. You can adjust your preset buy/sell buttons in the settings tab at the bottom left corner of BullX.
To trade like the pros, you’ll want to take advantage of BullX’s Limit Orders system. As automated trading in its most basic form, limit orders enable you to set the exact price that you want to buy/sell at, regardless of what the current price is. This gives you the power to touch grass, sleep on your bags, or just stick with your conviction bets and avoid emotional trading. You can use the slider bar on the trading menu or just drag and drop the line directly on the chart.
Another form of automated trading is DCA (Dollar Cost Averaging). DCA’s name sounds more complex than what it really is. Basically, DCA orders enable you to buy/sell a specific amount of tokens over a specific period of time.
Input the total amount you want to buy/sell per order.
Input the interval you want (days/hours/minutes/seconds)
Input the amount of intervals.
This is the basic setup of a DCA order. BullX gives you even more advanced options like rotating your trades with multiple wallets and only making trades when the market cap is in the custom range that you specify.
In the example below, you can see that this trader will be buying 10 SOL worth of tokens in total,every hour 1 SOL worth of token is bought, for 10 hours once an hour, for 10 hours (100 SOL in total buys). The trades will rotate across the trader’s multiple BullX wallets, and the trades will not trigger unless the market cap is between $2.08M and $2.51M.
Once you’ve created and funded multiple wallets, you will be able to access multi-wallet trading in the Trading Terminal. Click the Wallet icon below the “Sell” button to open the Wallet Menu. There you can select one or more wallets to perform your trades on simultaneously. Multi-Wallet Trading is a powerful tool for organizing your trades and acquiring larger positions in tokens without centralizing too much of the supply.
