How we automated trading strategy via Botee.Trade on a simple RSI and get 14.5% profit
The strategy shows this results for period 01.01.19 till 20.03.19
6 steps of this strategy automation
This article is first in a series of “How to automate trading strategy via Botee.Trade”. We decide to publish stories to let you know more about our platform and it's features. If you have specific need feel free to check our docs or contact support via telegram.
Note: better to start using a platform with a 7 days free trial
We will talk about simple strategy on the common TA-indicator. RSI is a popular momentum oscillator. It considered overbought (the indicator is above 70%) and oversold (the indicator is below 30%) market conditions. One important thing of this indicator is to trading on signals when RSI returns to the channel. For example, get a signal to long if RSI crosses back above 30% and to short if RSI crosses back below 70%.
1. Choose an exchange, pair and candle period
Besides long, we want to trade short. For this reason, we choose Bitfinex. We create a strategy for BTC / USD pair and 3h candle period. The candle period selected on the chart is an Origin (Default) Feed.
2. Turn on margin trading
In order to trade short, we turned on “Margin” on the top of a chart
3. Set up a strategy in the Editor
Editor is an YAML text editor that helps you create and tune the strategy.
Editor allows you to configure and edit trading strategies using simple text format. The bot makes decision to open or close positions based on the strategies description in Editor tab.
So, we copy the RSI template from Help and paste it into the Editor.
This strategy will buy if RSI in the range of 0–30 and short if RSI in the range of 70–100. But we want to trade when RSI returns to the channel. So we add the strategy modifier “reversal”:
Then the bot will open long if RSI crosses back above 30% and open short if RSI crosses back below 70%.
4. Write down the position parameters
We want to trade 50% of deposit. And we add the following structure:
Note that in this case, the bot is always in position.
Learn more about reversal strategy
In order to trade only long the position structure will be:
In order to trade only short the position structure will be:
6. Run the bot
This is it, once you have completed all the previous steps you are ready to launch your strategy on the real exchange. We wish you good luck and do not forget what we always here to answer your questions or assist on strategy tuning
Better to start using a platform with a 7 days free trial
- To learn more about Botee.Trade check our documentation or site
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Disclaimer: you should mark that it’s not for everyone. Bots can trade for you. They offer a variety of advantages, not least of which is the ability to trade on your behalf, 24/7, and the ability to remove all of the emotion from trading (assuming you don’t barge in and terminate them when you’re feeling irrationally antsy). On the other hand, if you don’t have the financial smarts to put together a trading strategy, then bots could simply end up automating a set of poor market trading decisions.
For many, then, who believe in bitcoin’s long-term potential, the most basic trading strategy could be HODL (buy-and-hold).
Whether or not you decide to automate your trades, the basic rules apply: don’t trade more than you can afford to lose, and don’t go into any investment without at least a basic understanding of what you’re doing.
