This is part 3 in a series of articles on the Nefertiti trading bot. If you don’t know what Nefertiti is or does, please refer to part 1 in this series.
Nefertiti comes with a built-in strategy that is simple but proven; buy the dip, then sell those trades as soon as possible, preferably on the same day.
However, some traders might prefer an alternative strategy. Starting with Nefertiti 0.0.69 we’re pleased to announce a cooperation with Intelligent Trading Foundation, a fin-tech organisation that provides signals with an awesome Telegram bot.
Telegram crypto bots regularly visit popular exchanges to find trade opportunities for you. As soon as they spot one, it is posted to their Telegram channel. Starting with version 0.0.69, the Nefertiti trading bot now supports listening to those signals coming from Intelligent Trading Foundation, and then act upon them. Here’s how to set that up.
Those familiar with Nefertiti already understand that you’ll need to be running two instances of the bot in tandem, that we simply refer to as
Setting up a
sell bot hasn’t changed and is the simplest command. We recommend setting this one up first. Open your terminal and then enter this:
./cryptotrader sell --exchange=Binance --strategy=4
sell bot will ask for your API and Pushover keys. Please note that you should NOT give Nefertiti (or any other bot for that matter) keys with withdrawal privileges. Stop here and confirm that your API keys do not include such privileges, then generate a new API key pair if they do.
Now that Nefertiti is ready to sell your trades, let us set up the
buy bot. Contrary to the built-in strategy, you don’t need to launch a
buy bot for every market pair. Open your terminal and then enter this:
Let us go over each and every above option.
--signals tells Nefertiti what Telegram bot to listen to. In this example, Nefertiti will listen to signals coming from Intelligent Trading Foundation.
--price is the price (in quote currency, more on that later) that you are willing to pay for an order.
--quote is the currency that is used as the reference, for example:
USDT. Think of this as the wallet that Nefertiti will credit when it places a buy order, and then debit when it sells that order for you.
--min is the minimum ticker price. If the ticker price is currently lower than this value, then Nefertiti will ignore (not buy) the signal. This allows you to ignore so-called low-satoshi markets.
--volume is the minimum trading volume. If the trading volume over the last 24 hours is lower than this value, then Nefertiti will ignore (not buy) the signal. This allows you to ignore markets where the trading volume is so low that they are easily manipulated. In this example, Nefertiti will ignore (not buy) markets where the 24 hour trading value is lower than 10 BTC.
Last but not least,
--repeat instructs Nefertiti how often you want to repeat the
buy command. In this example, the
buy bot will re-run 4 times per hour (in other words: every 15 minutes).
Please be patient running this strategy for the very first time, as the bot might initially need to delete a lot of signals that are older than one hour. If you want to receive more detailed feedback about what the bot is doing, then you might want to include an argument named
One more thing. Nefertiti does not buy every signal that Intelligent Trading Foundation sends to us. Nefertiti includes a voting algorithm that requires at least two signals to confirm each other. Only then will Nefertiti place a buy for you. This is the designed behaviour and not a bug.
Nefertiti is freeware. But if the bot is making you money, then I’d appreciate a BTC donation here:
Your donation will improve the bot and keep this project moving forward. Thanks!
Disclaimer: investing in crypto is high risk. Never spend money on crypto you cannot afford to loose. Use crypto bots at your own risk.