Tell the bot when it should open deals
"Open new trade asap" on your bots... You created two first bots, didn't you?
ASAP also happens on bad moments
Вots can open deals on the price peak. That's why you don't want to use ASAP always.
- A trading volume competition? ASAP is the best fit.
- Sure where the price is going? ASAP does the trick.
- Ready to price bounces with safeties? ASAP should work too.
Just remember the bot starts the next deal a moment after it closes the current one. It means a new deal often opens at the same price as the previous deal closes.
Open trades manually
- Don't trust algorithms but want to manage trades with bots? Start deals with a click.
- Have your algorithms? Start deals using API.
All simple bots have the button to open a new deal immediately.
You can open manual deals on composite bots with API only.
Technical analysis rating by Trading View
Trading View is the leading charting service, but it provides more than just charting, including the Crypto Screener.
See the rating column? It is what the most technical indicators say. The rating is a buy when 4 of 5 say the price will go up. It involves much more than five, but the approach is the same.
Trading View start condition has two settings
- Timeframe. Indicators provide different values on different timeframes. Short periods provide more frequent signals, but with a higher chance to get a false entry. Check how you can prepare to bad deals with safety orders.
- Rating. You select the minimum to open a deal. The strong buy is higher, and when you set the bot to use buy signals, it also includes all strong buy signals.
Two buys are not the same
Technical indicators don't communicate with text. They provide numbers, and so do the Trading View rating:
- -10 to -6 is a strong sell
- -5 to -1 is a sell
- 0 is neutral
- 1 to 5 is a buy
- 6 to 10 is a strong buy
The bot chooses coins using numbers. The text rating is only for us, humans.
You never meet the same rating: two buy ratings are 2 and 5 behind the scenes. When 1 to 5 is not enough for all currencies, add decimals.
Guess what to do now?
Try Trading View signals with bots on paper trading!
Don't forget to make the bot ready for wrong signals with safety orders.