Its Here-Crypto Trading Bot Platform Gets New Intuitive UI
And not a moment too soon. As the crypto markets continue to pump and to show renewed volatilitythis is the perfect time to consider automating some aspects of your strategy.
Let me just say that I am very proud to be part of the team at Aesir. Weve been working on this project for more than two years now and Im really excited to say that in the last few months weve been focusing on creating a much better user experience and lower the technical barrier for users looking to improve their trading using a cryptocurrency trading bot.
Let me give you a tour of the New UI and show you how easy it is to build a new cryptocurrency trading bot on Aesir.
How do Algorithmic Crypto Trading Platforms Work?
Before we jump in to the actual changes, its important to understand what an algorithmic trading platform does, and what are the adcantages of using one. These work by allowing the user to create a series of rules, that the platform is going to evaluate and execute. For instance, these rules can be as simple as a weekly DCA:
Buy BTC, ETH, DOT and SOL EVERY 1 Week, With an Order Amount of 100 USDTThe algorithm will then take these parameters and execute trading according to it. This is just a minimal example, you can create strategies that contain complex logic based on Volatility, Technical Indicators and other market tools
Could also do something like this.
Buy ANY COIN on THIS EXCHANGE that GAINED more than 3% in the 2 MINUTES and the RSI is under 70Its this example that truly describes the advantage of trading algorithm over manual trading. A daytrader would simply not be able to analyse over 1000 assets in under a second and make a decision based on this analysis. But here you would be able to catch a coin thats just about to spike up in price, because youre constantly evaluating the price of all coins on the exchange.
So in a nutshell, a trading algorithm extends your ability to trade by adding powerful new tools in your arsenal. It goes without saying that the way you use these tools makes a big difference.
Improved User Experience
The trading bot configuration screen has been simplified to a much better flow, where the user interface guides you through every step of the bot creation process, making it a lot easier for new as well as experienced traders to create their trading bots.
This is the orignial configuration screen:
The General Options Layer is a set of configuration settings that must be defined for any strategy, including our Golden Cross one. These settings include parameters like trade amount, maximum number of open orders, coins to analyze, and exit strategies such as Stop Loss and Take Profit.
The Frequency parameter determines how often your strategy checks for buy and sell signals. The faster the strategy, the smaller this number should be.
The Layer Selection screen allows you to add powerful logic that your trading bot will evaluate.
In this new update, we stripped this back and started with the basicswhat kind of strategy would you like to create? DCA or Advanced?
The General Options layer has been broken down in to step by step parts that allow you to easily configure a bot. Here is where you be adding the coins you want the bot to analyse.
And this is where you would configure the rest of the General options for your bot.
Once youve set your desired amount per trade, timeframe and number of orders to analyze, you can continue to set your Stop Loss and Take Profit. One cool thing about Aesir is that it allows you to set a Trailing Stop Loss and Trailing Take Profit.
Next upadding a logic layer:
This is where you select define the logic that your trading bot uses to manage your porfolio and place orders. Lets add a Computed Indicators layer.
This module allows you to select between many Technical Indicator signals that are pre-computed by TradingView. These indicators return values such as BUY, SELL or Neutral instead of the actual value of the indicator, making it much easier to build a strategy around them. Simply select the indicators you want to trade based on and let Aesir do the rest.
You also need to specify you threshold. How many out of your chosen indicators need to return a BUY signal in order for the crypto trading bot to place a buy order.
Once youre all done, give your strategy a name, and Save it.
Thats ityou have successfully built your first cryptocurrency trading bot with no code at all.
Successful traders prepare themselves by waiting for the right opportunity before making their moves. Sometimes the right thing to do, in a market is to do nothing. It takes both knowledge and patience to recognize when its time to wait and when is act.
A healthy market needs volatility. And boy did the crypto market deliver lately.
- Bitcoin is trading at over $40,000
- Just this last month, Solana saw a dramatic price fluctuation. It rose over 300% from the end of October, now trading at around $63.
- Ethereum is now trading at just over $2200
The current market is primed for double digit gains, followed by sharp correctionsmaking it an ideal candidate for a swing trading bot.
To get started, simply go to Aesir and create a new account.
Thank you for reading!
Enjoyed this article?
Sign up to the newsletter
Youll receive more guides, articles and tools via e-mail. All free of course. But if you value this blog and its educational resources, you can subscribe to become a paid member for only $3 a month. This will keep the website open and free.
The post Its Here-Crypto Trading Bot Platform Gets New Intuitive UI appeared first on cryptomaton.
Read more: https://www.cryptomaton.org/2023/12/04/its-here-crypto-trading-bot-platform-gets-new-intuitive-ui/
Text source: Automated Cryptocurrency Trading
