Nefertiti’s stop-loss strategy
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This is part 4 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 includes 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.
The standard, built-in strategy does not include stop-loss orders. While this strategy works pretty good for those that want to accumulate more Bitcoin and use the altcoin markets as a vehicle for that, it doesn’t seem to work very well for external signals (such as MiningHamster, for example).
Starting with Nefertiti 0.0.14, we are pleased to introduce a stop-loss strategy that is more effective for those that are using Nefertiti with external bots. This new strategy will place stop-loss orders for you.
Here’s how to put the new strategy to work. Assuming you already have a buy bot that is listening to external signals, here’s how to set up your sell bot:
./nefertiti sell --exchange=Binance --stoploss=YLet’s go back to the standard, built-in strategy for a moment. While Nefertiti is designed to buy the dip, the bot didn’t dollar-cost-average in heavy dips (in other words: all dips are treated equally).
Starting with Nefertiti 0.0.14, we’re introducing a new argument named dca. When this argument is included, the buy bot will slowly but surely increase your bag while lowering your average buying price:
./nefertiti buy
--exchange=GDAX
--market=all
--quote=EUR
--price=25
--volume=1
--dca
-—repeat=1Nefertiti 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.
