Don’t forget, the bot is only programmed to follow the pre-defined conditions that you implement, so an unsuccessful strategy will all-but certainly lose you money. As we noted earlier, your Cryptohopper trading bot is only as good as the person that programmed it – you. In terms of the design process, think of it like the ‘IF/THEN’ function found within Microsoft Excel. The latter ensures that we have enough liquidity to open up a possible new position.
We also define that once we open such a position, they are of a certain size, namely the buy_value. In a second step, we fetch a current snapshot of our portfolio, on which the bot is trading, including information on the current balance of our quoted asset, USDT. We resolve buy_value to be of 95% of the current liquidity. Moreover, we analyze a resulting backtest which tests our algorithm over the span of the year 2020. It is built up of standard technical analysis (TA) but also includes some features of the Trality API that can help you to create more sophisticated trading bots as you go along.
In order to get you started with the Trality Bot Code Editor and your first Python trading bot, we use this post to cover a fairly basic approach to building a simple trading algorithm. Make use of numpy , Kucoin pandas and other popular libraries to seamlessly create any number of bots. It comes with a state-of-the-art Python API, end-to-end encryption, and many more flexible features to assist you in developing top-performing algorithms. With Trality’s flexible and browser-based Python Code Editor, you can create cutting-edge bots in a snap.
Execution is the stage in which cryptocurrencies are actually bought and sold based on the signals generated by the pre-configured trading system. In this stage, the signals will be converted into API key requests that the crypto trade bot
exchange can understand and process. Not only does this mean that there is no requirement to have any background in coding, but all you need to do is click on the specific indicator that you want to implement, choose whether you want to buy or sell, configure a few fundamentals such as volumes – and you’re good to go.
However, a few months later, the CEO of KuCoin
reassured users that all of the funds were successfully recovered. Unfortunately, the exchange was hacked in 2020, resulting in over $280 million stolen from it. The Settings tab is the ‘fine details.’ Here you will tell your bot how much of your portfolio it can actually use to trade, how much or little it can buy or sell. You can define how long an order stays open before it is canceled or the time between making orders, which is known as ‘cooldown.’ This means that trades will be placed on your behalf, based on the underlying conditions that the bot has been instructed to implement.