What is the purpose of the Amount field?

The Amount field in MagicTradeBot controls the size of a manual trade. It allows you to specify exactly how much capital to commit to a trade, overriding the bot’s automatic calculations if needed.

1️⃣ How It Works

• Override Bot Calculations:

  • By default, the bot calculates position size based on your risk settings, account balance, and leverage.
  • Setting Amount > 0 lets you define an exact order size in the base currency, regardless of the bot’s automatic sizing.

• Use Bot-Calculated Size:

  • If Amount: 0 is set, the bot will apply its own risk-based position sizing, ensuring trades stay aligned with your global risk management rules.

2️⃣ Example

- Symbol: ETHUSDT
  Direction: Long
  Amount: 1000.0          # Overrides bot-calculated size

• Here, the bot will place a trade worth 1000 USDT, ignoring its own sizing rules.

- Symbol: ETHUSDT
  Direction: Long
  Amount: 0                # Use bot-calculated position size

• In this case, the bot will determine the trade size automatically based on your configured risk management.

3️⃣ Benefits

• Precision: Set exact order amounts for specific strategies or test trades.
• Flexibility: Combine manual trade control with automated risk management.
• Consistency: Ensure trade sizes align with your intended exposure, regardless of fluctuations in account balance or leverage settings.

4️⃣ Best Practices

• Use Amount > 0 for trades requiring a fixed allocation or testing purposes.
• Use Amount: 0 for trades that should respect bot-calculated risk sizing.
• Review manual trades periodically to ensure amounts are appropriate for current account balance and market conditions.

Pro Tip

Think of the Amount field as your manual sizing override: it gives you full control when you want it, but you can also let the bot handle position sizing automatically for consistent risk management.