How do I use Dip Sniper in market entry?

Published on Mar 29, 2024Updated on Oct 15, 20244 min read43

What's Dip Sniper trading bot?

Finding the right price at the right time to enter the market can be time-consuming, and we often see prices climb before we get the chance to buy. This creates an unease feeling and may cause you to pay more than your target entry price. You can always place a limit order below the market price, but if the price moves against your target, you may not be able to buy anything at your target price. And this is where Dip Sniper comes to the rescue!

Dip Sniper ensures that a proportion of your order will be executed at the price you set on the order's expiry. You'll no longer have to regret missing out on a better price or not trading earlier.

Dip Sniper helps to alleviate volatile market conditions. For instance, if you place a buy order with Dip Sniper for 1 Bitcoin (BTC) at $21,500 when the price was $22,000, Dip Sniper would ensure that part of your order will be filled at your target price on the order's expiry even if the price goes the other way. Without Dip Sniper (if you'd placed a regular limit order), you wouldn't be able to buy anything.

How do I get started with Dip Sniper trading bot?

On the app

  1. To access Dip Sniper, you can select Trade > Trading Bots and you'll get to the Bot Marketplace

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    Select Trading bots from the pop-up that appears once you select Trade

  2. Scroll down until you see Arbitrage Bots and select Dip Sniper

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    Select Arbitrage bots from the Create a bot selection

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    A pop-menu under the Arbitrage bots title appears, select Dip Sniper

  3. Select the recommended strategy card or select Expand to view more. Pick the option that suits your desired needs

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    Selection of the strategy card for you to choose from

  4. Enter the amount you want to buy and select Buy BTC at dip and confirm the order

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    Confirm your order once you've set the details

On the web

  1. To access Dip Sniper on your desktop browser, navigate to our Bot Marketplace. To do so, hover to trade at the top menu and select Marketplace

  2. Then, select Dip Sniper from the Arbitrage Bots option

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    Select Arbitrage bots as the main section before selecting Dip Sniper

  3. Enter the target price and amount you want to buy and select Buy BTC at dip and confirm the order

Disclaimer
This content is provided for informational purposes only and may cover products that are not available in your region. It is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold digital assets, or (iii) financial, accounting, legal, or tax advice. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. Information (including market data and statistical information, if any) appearing in this post is for general information purposes only. While all reasonable care has been taken in preparing this data and graphs, no responsibility or liability is accepted for any errors of fact or omission expressed herein. Both OKX Web3 Wallet and OKX NFT Marketplace are subject to separate terms of service at www.okx.com.

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