Simply put, bots help you automate a trading strategy. A strategy can be as simple as buying a small amount of asset over a period of time (also known as dollar-cost-averaging or DCA) to more complex ones based on technical analysis.
You can select from a number of pre-built strategies. Each strategy consists of a set of parameters that can be tweaked per your preferences and risk tolerance.
Our built-in backtesting engine enables you to easily simulate the strategies with corresponding parameters on historical data to see how it would've fared in different market conditions. Once you've found a winning bot + parameters combination, it's easy to go live - simply press the "Start Live" button and select your exchange to start the bot.
Here are a few things to note when running bots:
- Each bot is run in a secure, isolated environment, and is not aware of other bots
- Bots will not touch existing holdings/positions or orders, which means you can continue to trade manually as well. However, be sure to keep a sufficient balance for the assets being traded so that the bot has enough funds to trade with.
- If a live bot is turned off, any open orders or positions must be manually managed
- Other than real-time bots, TA based bots will make buy/sell/hold decisions at the close of the selected candle timeframe. For example, if the candle time frame is 5 Minute, the bot will execute actions at 12:04:59, 12:09:59, 12:14:59 and so on every 5 minutes. Similarly, when timeframe is set to Daily, the bot will evaluate the signals once every 24 hours.
- When multiple backtests are run, the results from the latest backtest are shown
- Logs are helpful in keeping an eye on what the bot is doing and troubleshooting any issues with live or backtest runs
If you still have questions about bots, please reach out to us via live chat or email firstname.lastname@example.org