> ## Documentation Index
> Fetch the complete documentation index at: https://docs.bitbrokertrade.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Trader settings and all functionalities explained

> Detailed explanation of the trader settings: transaction size, price ceiling, maximum open buys, profit strategy and stop loss.

The trader has a number of settings that let you precisely determine how it trades. On this page you find a detailed explanation of the most important options, so you can optimally tune the trader to your own strategy and risk appetite.

<Accordion title="How is the size of a transaction determined?">
  By default, transactions always cover **18% of the outstanding euro balance** at your exchange. The smallest transaction size BBT uses is **€ 25**.

  At trader level you can adjust this with the **"Average buy amount"** setting. If you enter a fixed amount here, the trader always buys exactly that amount per transaction, regardless of the total available balance.

  **Combination with "Maximum open buys":** by using both settings together, you determine to the euro exactly how much money you want to invest per coin.
</Accordion>

<Accordion title="Maximum open buys: what does this setting do exactly?">
  With this setting you specify per trader how many buy positions may **be open at the same time** for that specific coin.

  Practical uses:

  * **Setting a limit:** if you set it to e.g. 5, the trader buys a maximum of 5 positions simultaneously for that coin.
  * **Selling the coin empty:** if you enter **0**, the trader no longer makes new purchases but does still sell existing positions. Useful if you want to wind down a position without deactivating the trader completely.

  In combination with the average buy amount, you can set a precise limit on your investment per coin this way.
</Accordion>

<Accordion title="How do I set a price ceiling and when do I use it?">
  The price ceiling is an upper limit for the price: the trader **does not buy** if the price of the coin is above the set ceiling.

  **How do you set it?** As preparation, look at the current price and the historical price development of the coin in question. If your expectation is that the price above a certain level is a one-off peak, you don't want the trader to buy positions at that level. You then enter a price ceiling of, for example, 3% below that expected peak price.

  **Example:** you expect Bitcoin above € 55,000 to be a one-off peak. You set the price ceiling to 3% below that. If your return percentage is lower than 3%, the trader will still sell its last purchase at such a peak price and you have maximum return. That is the theory behind the price ceiling setting.

  <Tip>
    Use the price ceiling as protection at historically high price levels. In a normal market environment without extreme peaks, you can leave the price ceiling disabled.
  </Tip>
</Accordion>

<Accordion title="What is the difference between Reinvest and HODL?">
  With the BBT strategy you can choose what the trader does with the proceeds of a sale:

  * **Reinvest:** the profit is fed back into the free balance and reused for new purchases. Your balance grows gradually.
  * **HODL:** the trader accumulates the crypto coins and does not sell them automatically. You build a position for the long term.

  Which option suits you best depends on your investment goal: active return or long-term accumulation.
</Accordion>

<Accordion title="What does the stop loss setting do?">
  With the stop loss you set a maximum loss percentage per open position. As soon as the value of a purchase falls below this percentage, the trader automatically sells the position, even if the return target has not yet been reached.

  This limits the risk of large losses in prolonged price drops. Don't set the stop loss too low, because in normal market volatility a position can temporarily be in the red before recovering.

  <Warning>
    Activating a stop loss at a low setting can lead to many losing sales in volatile markets. Set the stop loss at a level where you are comfortable with the possible loss.
  </Warning>
</Accordion>

<Accordion title="What is the difference between the BBT strategy and the Updown strategy?">
  Both strategies determine when the trader buys and sells, but in a fundamentally different way:

  * **BBT strategy:** buys only at the start of an upward trend and only sells when the rising trend breaks. Works with 15-minute candles.
  * **Updown strategy:** buys positions within a price range and sells as soon as the minimum return has been achieved **and** the last candle is fundamentally lower than the previous one. Works with 1-minute candles.

  For an extensive comparison and explanation, go to [Trading strategy](/en/traders/trading-strategy).
</Accordion>

<Accordion title="Binance API Management update: what do I need to know?">
  Binance periodically invalidates the **"Enable spot & margin trading"** setting for API users if no IP address is on the IP whitelist of the same user. This happens every 30 days.

  If this occurs, the BBT system automatically deactivates the API connection and you receive an email with explanation. Restore the API by logging in to Binance and reactivating the settings.

  For the exact steps, consult the [Binance connection page](/en/exchanges/binance).
</Accordion>