# Creating a Strategy

This guide walks you through creating a strategy on [app.carbondefi.xyz](<https://app.carbondefi.xyz/ >)

We'll create a recurring strategy with ETH and USDC that buys ETH between $2000 and $2100 and sells ETH between $2300 and 2400. We will fund the strategy with USDC tokens only.

{% embed url="<https://www.youtube.com/watch?v=i7KN903eUWQ>" %}
A step-by-step video guide to creating a Carbon strategy.
{% endembed %}

## 1. Select a token pair

<figure><img src="/files/V7jDJkVM7VnuNWHSUUxf" alt=""><figcaption></figcaption></figure>

Any pair of standard ERC20 tokens is valid. The “Buy or Sell” token (or “Base token”) is the token we would like to buy low and sell high, in this case ETH. The “With token” (or “Quote token”) is the token we would like to denominate rates in, in this case USDC.

## 2. Select the strategy type

<figure><img src="/files/gfMIYmGv0h8vMuKiKcJy" alt=""><figcaption></figcaption></figure>

Choose between few different options:

* Limit Order&#x20;
* Range Order
* Recurring Order
* Concentrated Liquidity, previously referred to as 'Overlapping Liquidity'

In this case, we select a recurring order with two range orders.

## 3. Enter a Buy Range and Buy Budget

<figure><img src="/files/BDstvbqp83Y9K9cgqw66" alt=""><figcaption></figcaption></figure>

In this example, there will be a supporting [ETHUSD](https://www.tradingview.com/symbols/ETHUSDC/) price chart powered by TradingView. You can utilize this chart to select your ranges using available data points such as trading volume, price action, moving average indicator and more.&#x20;

The Buy Range is set to $2000-$2100. Meaning the strategy will start buying ETH at $2100 (“Max”) and stop buying ETH at $2000 (“Min”).

We fund the Buy Budget with 1000 USDC. Our USDC will be converted into ETH whenever the ETH market price enters the Buy Range.

## 4. Enter a Sell Range and Sell Budget

<figure><img src="/files/Q7empSr1eUTaIsKwLoMM" alt=""><figcaption></figcaption></figure>

The Sell Range is set to $2300-$2400. Meaning the strategy will start selling ETH at $2300 (“Min”) and stop selling ETH at $2400 (“Max”).&#x20;

We fund the Sell Budget with 0 ETH.

## 5. Create Strategy

We are now ready to submit the transaction that creates our strategy. First, we may need to approve the Carbon contract to spend tokens on our behalf.

<figure><img src="/files/VOy9ubmmaFkgw9xanQC2" alt=""><figcaption></figcaption></figure>

Once the approve transaction has been confirmed, click “Create Strategy” to trigger the transaction in your wallet.

<figure><img src="/files/waKbqH9JR8uXg2oxas5x" alt=""><figcaption></figcaption></figure>

## 6. Manage Strategy

<figure><img src="/files/V2xPrrsHV300PxGQKg7f" alt=""><figcaption></figcaption></figure>

That's it! The strategy is now live and will appear in the Strategies page. Click “Manage” to interact with the strategy, including Deleting the strategy, Editing price ranges, Depositing or Withdrawing funds, or Pausing the strategy.

For more info on Carbon’s recurring strategies, see this [blog post](https://medium.com/carbondefi/adventures-in-programmable-dex-trading-carbon-recurring-strategies-6be01b534ae0).

## Questions?

* [Carbon DeFi Telegram](https://t.me/CarbonDeFixyz)
* [Carbon DeFi Discord](https://discord.gg/bancor)
* [Technical Documentation](https://docs.carbondefi.xyz/carbon/introducing-carbon)


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