Apex does come with a bit of a learning curve but it isn’t as hard as you might think.
You start by signing up to Apex. Once done you are presented with an empty page like the one below.
Make sure you have a Binance account if not signup for one.
Start by clicking on the Strategy Center
You should see the following screen
On the left side, you can filter the strategies based on keywords, base currency or tags. We will set up the 200 dollar Challenge strategy by Black. The reason I’m picking this strategy is that it has proven to work with a small budget and can pay for the subscription. See results from the $200 dollar challenge (check the link for more info).
So this should work for everyone and you can scale it up for a larger budget.
Another reason is this strategy is very simple it doesn’t use ADCA (automated direct cost averaging) nor automation, which makes it very beginner friendly.
Get the strategy by clicking on Clone Package, this will copy the required strategy to your bot.
Now click on My Bots and New Bot
Name your bot, select your base currency, we’ll pick BTC for this tutorial. You can pick USDT if you prefer this, which is probably better if you’re new to crypto as it offers a more stable base currency.
Next Select the Strategy
You should be able to select Black Magick V1
The API keys you should generate in your Binance account and copy them to your bot.
Under Settings, make sure Buy & Sell is set to Black Magic V1 if it’s not already. Auto Reverse Trading to Black Magic RT V1. Check if your Base Currency is correct and select Compound Profit and Loss, this way your account size will vary according to your wins/losses.
Position Allocation is the amount of money you want to allocate to your bot. Clicking on the small calculator icon you can set how much of your BTC you want to allocate for your bot and how much you want as Reserve. Since this strategy doesn’t use ADCA you don’t really need to set anything here but it might be good to set something in case you want to manually average down at some point.
Position Allocation % split defines how large each position is as a percentage of your total allocation, it will also give you an indication of how many open positions you can have at a time. For simplicity sake, we’ll set up 25 positions, so pick a % split that gives you a Maximum number of open positions of 25 positions or more. Of course, you should set the number to be in line with your budget.
Blacklist low- volume, smaller-market cap coins, they are high risk/high reward but with a strategy like this, you want to have a high turnover and lower risk. You can find lists here: https://discord.gg/7vWQCq
To control your bot you can use the gear icon.
And this is basically all there is to it. You’ve set up your bot.
In part 2 we will go into more detail about Apex and all the various options, such as ADCA, ART, Automation and Strategy building…etc.
The above references an opinion and is for information purposes only. It is not intended to be investment advice and may contain affiliate links. Seek a duly licensed professional for investment advice.
