The Scalper bot attempts to scalp prices. Scalper bots work best on small and quick changes, making it useful in a sideways market. Use this bot with small amounts.
The Order Bot is designed to set pre-defined orders that will only execute if the target price is reached. The bot has 3 different trigger conditions. Default, Trigger When Lower, Trigger When Higher.
The performance of the bot entirely depends on the skills of the user.
- Fist, navigate to the Left side menu and select "Custom bots".
- Click the plus (+) sign.
- Select the "Scalper Bot" from the list.
- Name your new bot.
- Select the Account (API) to use and the market you like to trade on.
- Click on "Add bot".
- A new bot is now created. Click on it to view its settings.
- You may want to run a series of backtests to help fine-tune your settings.
The start position of the bot. If your assets are currently in BTC, select BTC. If it is in USD, choose USD. The value has no relation to the trade amount currency.
The allocated amount for the bot to use.
Some exchanges offer <0% for native order templates. The Scalper Bot gives you the ability to take advantage of this.
Some exchanges offer alternative fees for using native templates. Utilizing these will adjust the profit calculation.
The Target Percentage determines the minimum profit of the bot. To overcome the fee, the Target Percentage needs to be twice the fee. When the bot is in a bought position, the price needs to rise by a predetermined percentage before the bot executes a sell order. Conversely, when the bot is in a sold position, the price must drop by a specific percentage before the bot buys again.
The safety threshold acts as a "Stop-Loss" for both sides. For example, a setting of 2% allows the price to change by 2% before the safety creates an order to change the bots positions. Similarly, a setting of 98% allows the price to change by 98% before the safety creates an order to change the bots positions.