Smart Trade Bot
It's more than basic trade setups
Last updated
It's more than basic trade setups
Last updated
Enter a name for your bot, select exchange and market then enter your quote quantity for trade setup (For example if you select BTCUSDT and enter 50 as total quantity, the bot will buy 50 USDT worth of BTC. If you select XRPBTC as market, in this case, the bot will buy 50 BTC worth of XRP)
If you select Market Order(M), the bot opens a position immediately but if you select Limit Order(L), the bot opens position when the asset hits limit price.
Targets:
You can set maximum 5 different target points to close your position. While determining your target points, you can also enter how much of your position to close as a percentage. In this way, you can close position partially at different targets
The bot created with these parameters above will close 50% of position when the price hits 17,500 then it'll close the remaining part(50%) when the price hits 18,250
Trailing Take Profit
If you select "Trailing Take Profit" option, the bot runs a little different. When the price hits last target(18,250), the bot estimates the "take profit" level with this formula (18,250 - 18,250*3/100) and it follows the max price with deviation(3%). When the price falls down at least 3%, position is closed
Stop Loss - Timeout
You can easily determine the stop loss. If price falls down this level, bot closes your position. If you select stop loss timeout option, the bot waits for 120 seconds if the price hits 16,218. After 120 seconds, if the price is still below the stop loss price, position is closed but if the price rises above this level again, counter is reset
Move to breakeven
You have to determine at least two target points to use this feature. If the price hits your first target, stop loss price is updated as an entry price. In this example if the price of BTC hits first target (17,500), stop loss is updated as 16,559.28
Repeat Trade After Stop Loss
After the price hits stop loss price, position is closed but bot continues to run. If price rises to 16,559.28 again, position is opened again with same options. This feature is especially very useful if you want to open position at support/resistance zone
You can use Coinlegs S/R Analysis Tool to easily find the altcoins which are close to S/R zone
Visit Coinlegs Youtube Channel to learn how to use S/R Analysis Tool
For example you want to start smart trade bot for BTCUSDT pair with 90.000 USDT. You want to open position when the price of bitcoin falls down to 30.000 USDT. You determined 3 target points to close your position.
First Target: 33.000 USDT, you will close 30% of your position
Second Target: 36.000 USDT, you will close 30% of your position
Third Target: 40.000 USDT, you will close 40% of your position
Bot will open position when the price falls down to 30.000 USDT then follows the price. If the price goes up to 40.000, the bot will close positions respectively
Bot opens position at 30.000 (it buys 3 bitcoins)
Bot closes 30% of your position at 33.000 (it sells 0.9 bitcoin for 29.700$)
Bot closes 30% of your position at 36.000 (it sells 0.9 bitcoin for 32.400$)
Bot closes 40% of your position at 40.000 (it sells 1.2 bitcoin for 48.000$)
Bot stops (LegsBot sends all actions via telegram)
Trailing Take Profit
If you activate "Trailing Take Profit" option and enter 5% as a difference, the bot will not close the position when the price hits last target, instead it will follow the price as long as the difference between the highest price and the last price is more than 5%. As the price rises, it will set the target point 5% below the highest price. But if the price drops, the target point will not be changed. If the price goes down after rising and reaches the target point we set last, it will close the last remaining position.
