Go to My bots in the menu section on the left and click ‘Create bot’. Here we have a selection of the available templates of cryptocurrency bots for each strategy. The basic settings are already chosen for you in the templates, all that remains is to set up the rest or connect the basic settings up to your preferences. You can choose one of the trading bot’s templates or customize your bot from scratch.
Let’s start by naming the crypto bot and choosing the access point. Choose one of the strategies and the cryptocurrency pair available on your exchange for a crypto bot to trade. As an example let’s take USDT and BTC pair. USDT is the base currency in this case, which is always displayed first in the pair, BTC is the secondary currency.
Long strategy means buying tokens that are expected to increase in value and selling them later at a higher price, short strategy – selling coins at high with expectation that coins and tokens will decrease in value and buying the same amount of coins later at a lower price, thus in the end of trade having the same amount of coins plus the profit in base currency made on price difference.
In the long strategy, the quote currency (USDT in our case) is the cryptocurrency that you need to have on your exchange balance before the start of the trading. That is also the currency in which you will be receiving your profits. The secondary currency (BTC in our case) is the currency you will be buying and selling to gain profit.
In the short strategy, the secondary cryptocurrency (BTC in our case) is the one you need to have on your deposit before you can start trading. That is also the currency you will be buying and selling to gain profit. The quote currency (USDT in our case) is the currency in which you will be receiving your profits.
The profit from each trade is set in the Take profit value field (in % from your first order, from 0.1% to 50%), which is the size of your desired profit on the trade.
Below you’ll see the First order volume field – that is the size of your first order. It can be quoted as a percentage of your deposit or as a fixed value. (!) If fixed value is chosen it must correspond to the fixed value of extra order.
In the long strategy, both values will be quoted from the quote currency (USDT in our case).
In the short strategy, both values will be quoted from the secondary currency (BTC in our case).
In the Step of extra order field you must specify the percentage of the deviation of the first order value after which the extra order is placed (From 0.1% to 10%).
Extra orders give an opportunity to make a profit if the market goes in the opposite to your strategy direction by buying tokens at the lower price in case of long strategy, or higher price in case of short strategy.
Below are fields that specify the maximum number of extra orders (from 0 to 100) and count of real-time extra orders (from 0 to 10).
TradeSanta calculator will let you know whether you have or do not have enough funds for a deal.
TradeSanta technical indicators serve to ensure the trading bot will enter the market at the optimal point. Users may choose from Volume filter (a new deal will only be opened if a pair has traded sufficient volume during the last 24 hours), Day filter (the crypto bot analyzes trading activity from the previous day and sets a forecast for the current day), and Bollinger signal (the bot will search for an optimal entry point based on Bollinger bands of a trading cryptocurrency pair for the past 1.5 hours on a 5-minute timeframe) or use these 3 filters at the same time.
You can also use the additional tools available on TradeSanta, such as Entering at market price and Buy coins for commission (you can allow the crypto trading bot to buy coins for commission or pay the commission directly on Binance in BNB).
After all fields are complete press ‘Save’. The only thing left to do is to turn the bot on. When the trading bot is on, it will be looking for the best time to enter the market according to the filters you used. If you are certain that you want to enter the market immediately, you can do it manually by clicking ‘Force start’ and ‘Start new cycle’.
Let the crypto trading begin!
Are you ready to create a Binance, Bittrex, Bitfinex or HitBTC trading bot on TradeSanta by yourself? Visit tradesanta.com and sign up today.