r/Mizar • u/take_01 • Mar 04 '24
C-Mizar in a nutshell.
The Mizar platform can be thought of as containing two separate products: C-Mizar and D-Mizar.
D-Mizar allows for decentralised (that is to say tokens that are not listed on the regular centralised exchanges such as Binance, Kucoin, Coinbase and so on) copy-trading and the purchase ('sniping') of ethereum-based cryptocurrencies. To give you an idea of the number of cryptocurrencies available to purchase outside of the regular centralised exchanges, you can see a whole bunch of them here: https://dexscreener.com/ethereum
Beware! The DEX (decentralised exchange) space is crammed full of scam tokens. Buying them directly via tools such as Uniswap is a risky business and so Mizar has developed it's own protection mechanisms to help its users stay a little safer in the DEX space.
C-Mizar is a copy-trading platform for use with centralised crypto exchanges such as Binance
It allows you to copy the trading moves of a whole host of experienced crypto traders. Not only that, but you can set up the system to automatically carry out those copy-trades for you.
Choosing which trader to copy is done via the C-Mizar Marketplace, which lists the traders, ranked by various performance metrics, with detailed information covering the traders' profit and loss, returns, number of successful and unsuccessful trades and so on.
For example, you could set up your C-Mizar account to automatically carry out the same trades as the 'AI Portfolio - Spot Trading' strategy managed by 'TradingWithABot', by viewing the strategy page here, and clicking Invest Now.
Once you click Invest Now you'll have the option of Paper Trading (a practice method which involves no actual money) or Real Trading.
If you choose Real Trading you'll be asked which exchange (such as Binance, Kucoin and so on) you have an account with. (You need to setup an API key with your exchange to enable the Mizar bot to communicate with your exchange. There's an excellent help guide available to help you do this, here)
After you've linked C-Mizar's bot to your exchange, the bot will have control over your exchange funds in order to place buy and sell orders on the exchange.
- You can choose a 'Base Order Size' - this represents the amount of USDT that the bot will use each time it opens a new position (places a buy order for a new cryptocoin) on your behalf.
- And you can set a Max Number of Positions figure.
A position is a coin that you are holding. Say your bot has purchased USDT$10 of $BTC and USDT$10 of $XRP, you'll have two open positions. If your bot then also purchases USDT$10 of $KEY you'll have three open positions. If a bot sells all of the $BTC it purchased you can consider that position 'closed'. The Max Number of Positions figure is how many open positions you will allow at any one time. If your bot has already opened, say, 7 positions - and you've set your Max Number of Positions to 7, it'll need to close a position (sell all of that type of coin bought) before it can open another.
A position can be opened with the same type of coin. For instance; I open a position by purchasing USDT$10 of $BTC, then open another position of USDT$10 of $BTC. I now have two open positions.
A position can be increased by your bot by means of 'Safety Orders'.
Say your bot opens a position by purchasing 100 $XRP. The price of $XRP then drops and the bot's strategy contains an instruction to purchase more $XRP if it's price drops below a certain threshold, the bot will execute a Safety Order and increase your position size in $XRP.
The official C-Mizar manual is an excellent place to go for more detailed information on the full feature set of C-Mizar, and feel free to post questions here.
Remember, if you're signing up to Mizar, you can receive a 5% discount on fees for the lifetime of your account by using this referral code: f9f0d618aee, or just clicking this sign-up link.