Replicate scalper as trade-bot
This procedure explains how to re-create a scalper-bot as a Trade Bot. If you follow this procedure you will get a better understanding of how trade-bots work and how to improve upon them.
- Go to the Left side menu and select the "Trade bots"
- A new screen will show up, on it you will find a big + added. Please click on this.
- Select the Account (API) you like to use and the Price market you like to trade on
- Click on "Add bot"
- A new bot is now created
- To replicate a scalper-bot we need to give our trade bot a Blind trading indicator. This indicator will just blindly send out buying and selling signals.
- The next step is to ensure profits. To do this we will be adding an Overcome Fee Costs insurance. This insurance will validate the trades of the Blind indicator and allow a trade to pass if the fee levels are surpassed.
- To make sure everything is configured properly, please check the schema of the bot. It should look like this:
You have now created a bot that just trades blindly. This is the essence of a trade-bot at work. Trade bots just need something to generate trading signals. You can add insurances and safeties to further customize your trading strategy.
To improve this bot it is recommended to try the other Insurances in combination with the Blind indicator, to observe what happens. This is the best way to get used to using insurances. Those are a big deal if you start trading for the very first time.
To expand the scalper-bot it is recommended adding a Stop-loss Safety. Safeties are made to respond in case it is absolutely required and they can overrule the indicator and insurances. They are meant to keep you safe against sudden price drops.