Sirwin
Sirwin

Testing Automated Bot Trades on Traderlands

By idiosyncratic | Idiosyncratic Crypto | 26 Jun 2023


The markets are driven by robots. Obviously, the number of real market makers keeps decreasing. Also, each market maker utilizes their own bots to draw a neat chart for the pair that they are controlling. Meanwhile, the interest in automated crypto trades keeps increasing. Today I started testing an algorithmic trading platform named Traderlands.

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First of all, setting up a profitable bot is a huge deal. However, before making gains, there are a couple of challenges beforehand. As these bots are developed by people who are good mathematicians / coders, creating a brand new bot might be tough work for many people. You need to have at least fundamentals of if, and, or so that you can run something successfully.

However, there is a huge potential for those who have strong trading strategies that may bring them passive earnings with daily traders. At that point, the bots should be very well-adjusted because there is no tolerance to miss a point when you set your bot. With a tiny little mistake, you may see that your trading funds are wasted by the bot with a false comment.

Setting up Your Robot

If it is your first time, be ready to spend the 3 hours in your life to unlock a brand new skill. It took 4 - 5 for me to successfully set up a robot that may initiate trades for me.

Start your algorithmic trading journey by using backtested trading strategies that work on major exchanges or create one in a few clicks. -Traderlands

It is always safer to run on Live Testnet before you connect your exchange accounts to apply your strategies.

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The former bot took more than 3 hours to be initiated and, eventually, it ceased because it was full of mistakes. our single strategy should be working on several different pairs in the backtest stage to be used with less fear.

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If you have strategies on TradingView, you can also implement them. If you do not have any, I suggest creating your own strategy if you have been in crypto with decent experience.

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The strategy creation part is the most complex step of it. First you may choose your pair and time interval, 4H or Daily trades are suggested to minimize the risks, and the fun part is the use of indicators.

The indicators follow a certain sequence of action according to the price actions. However, the bots need to get data to form a reasoable strategy. The risk of indicators start at the very beginning;: you need to decide and choose open bar or the previous bars to check if there is a golden cross, overbuying or oversold cases...

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When the backtests yield positive results, you can start to adjust exit algorithm and it is highly possible that you may want to adjust the "stop loss" or TP (take profit) levels to enable the trades.

Not using any stop loss will make your success level 100% but the waiting time for profit will skyrocket.
With a 0 Stop loss level and 3.5% TP strategy, you may have 100% successful trades whereas some of the trades reach up to 50 days!

Though there are a lot of challenges waiting for you, it is worth it. The automation craze has the potential to change the paradigm in the world by reducing the need for human power. Have you ever used algorithmic trade strategies in your crypto investments? If yes, did they let you make gains?

Share your experience with us below.

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idiosyncratic
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