FTX.US Trading Bot Guide with Coygo

Founded in 2019 by the well-known Sam Bankman-Fried, FTX and their US exchange FTX.US have been a top choice for crypto traders. Low trading fees, advanced order types, NFTs, and top-tier security all keep crypto traders coming back to FTX.US.

FTX.US also offers some simple automated trading rules with the “Quant Zone”, allowing traders to create rules for when to buy or sell an asset. Automated trading bots are a popular choice for day traders looking to perfect their strategy so this is a great feature to have. With bots you can trade 24x7 without any emotional attachment, instead allowing code to trade on your behalf.

Unfortunately FTX.US doesn’t provide much help for figuring out how to use the Quant Zone and it doesn’t offer any pre-built strategies for you. What if you just want to select from a list of pre-built strategies such as swing trading or arbitrage? Perhaps you want to try a market making strategy?

Luckily there is a solution that will allow you to create and run a number of different trading bot strategies on FTX.US, including triangular arbitrage or swing trading, plus you can even code your own custom strategy with simple JavaScript. Let’s take a look at using Coygo Bots to automate your trading on FTX.US.

Why Trading Bots?

Many day traders will look to automated trading bots. Humans can only watch a chart for so long during a day whereas trading bots are always actively monitoring markets. Human emotions can cause us to make mistakes, trading bots have zero emotions and only follow strictly defined rules. Crypo trading bots allow you to create the rules for your trading strategy and then let software execute that strategy with absolute precision.

Are Crypto Trading Bots Profitable?

That depends on your strategy! Crypto trading bots never guarantee a profit, they only automate your strategy. If your trading strategy doesn’t make a profit, automating it won’t suddenly make it successful, but one big benefit of trading bots though is the ability to test your strategy. Using things like “paper trading” a trader can use bots to test their strategy and find the right configuration for their specific needs and risk tolerance.

Why use Coygo Bots with FTX.US?

As mentioned previously, FTX.US does offer the ability to automate your trading with the “Quant Zone”. So why would anyone choose to use Coygo Bots instead?

Coygo Bots provides a number of pre-built trading bot strategies out of the box for anyone to easily get started, whereas the FTX.US “Quant Zone” leaves everything up to you. Coygo includes popular strategies like swing trading, arbitrage and market making, and all of them can operate on intervals as short as seconds or even milliseconds!

All of Coygo’s strategies include open source code so you can view or even modify the code as you like. These all come with an easy-to-use configuration interface along with written and video guides to help walk you through the process of creating and running trading bots for yourself.

For example, if you are interested in crypto swing trading Coygo offers the “Ping pong swing trader” strategy as well as the “Spot grid swing trader”. If arbitrage is your preferred trading style Coygo offers a crypto triangular arbitrage bot strategy.

You can see a full list of all available trading bot strategies in Coygo Bots on the “My Strategies” page.

Coygo offers a secure solution where your exchange credentials (API keys) are only stored encrypted on your hard drive, not Coygo’s servers. Coygo’s trading bots can also be used on most exchanges including Coinbase Pro, Binance, KuCoin, Kraken and more.

Getting started with Coygo Bots and FTX.US

Before anything else you‘ll need to create a Coygo account and download Coygo Terminal for macOS, Windows and Linux. Don’t worry, creating an account is free and all subscription plans include a free trial.

Next you will need to connect your FTX.US account to Coygo on the “Exchanges” screen. You will be shown a guide to create an API key that will allow Coygo Terminal to access your FTX.US account. Don’t worry, Coygo’s servers never have access to your accounts, this is only ever stored encrypted on your hard drive.

Now that you’ve connected your FTX.US account you can start creating and running your own trading bots!

Create a crypto swing trading bot on FTX.US

Swing trading is a popular trading style for day traders so we will create a swing trading bot on FTX.US using the “Ping pong swing trader” strategy. If you’d like to learn more about swing trading please read our Guide: Master Crypto Swing Trading With Automated Bots.

This “Ping pong swing trader” strategy alternates between buying and selling to “ping pong” back and forth as the price moves. It buys when the price drops by a configured percentage within a specific time period, then sells at a configured percentage above that buy price. This strategy will try to increase profits by following a market trending upwards or downwards before buying or selling, with stop-loss and take-profit triggers in place to lock in profits and avoid losses.

On the “My Strategies” page you can select this strategy and click “+ Create Bot” to create your own swing trading bot on FTX.US!

Below is a screenshot of the configuration page for the ping pong bot. For an in-depth step-by-step guide and accompanying video please see our other post: Make a “Ping Pong” Crypto Swing Trading Bot With Coygo.

Create a triangular arbitrage trading bot on FTX.US

Apart from swing trading Coygo Bots also offers a triangular arbitrage strategy. Triangular arbitrage aims to profit off of price differences between different assets through a triangle of three trades. For example, you may start with USD and buy BTC, then buy ETH with BTC, then sell ETHfor USD. If the rates have changed to create a profitable cross rate you can use that to your advantage.

We can easily make our own triangular arbitrage trading bot on FTX.US by selecting “Triangular arbitrage: 1 exchange, 6 paths” on the Coygo Terminal “My Strategies” page and clicking “+ Create Bot”. Then you can configure it to whichever trade pairs you’d prefer.

Below is an example of the configuration page for Coygo’s triangular arbitrage bot. For a complete walk through and accompanying video please see our guide: Create a “Triangular Arbitrage” Crypto Bot With Coygo.

Code a Custom FTX.US Trading Bot with JavaScript

If you’d rather dive into code and create a custom trading bot strategy to fit your exact needs, Coygo Forge is what you need. Forge allows you to write simple JavaScript code that can access real-time order books, read wallet balances, submit or cancel orders, and perform any types of calculations necessary for your strategy.

All of the strategies available within Coygo Bots were created with Coygo Forge and you are free to copy or modify them! Coygo provides a lot of learning materials to get started coding your own crypto trading bot. If you’d like to learn more please see How to Code a Crypto Trading Bot with JavaScript & Coygo.

Final Word

Crypto trading bots are a popular tool for crypto day traders for good reason. A human can only do so much within a day and our emotions can lead us astray. If you’re willing to develop and fine tune a strategy that works for you then trading bots will help you make sure you’re sticking to this strategy without bias or rest.

When it comes to FTX.US trading bots traders have an endless list of strategies to choose such as arbitrage, DCA, HODL, accumulation, triggers, scalper, smart orders, grid, sandwich, market making, portfolio management, and many more. While the “Quant Zone” on FTX.US does offer a way to automate your trades, with Coygo Bots traders gain access to a large library of pre-built strategies as well as a powerful toolset to develop their own as well for your specific risk tolerance and needs.