This is part 10 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 supports many crypto exchanges, including Binance and Bittrex and Bitstamp and HitBTC and KuCoin and crypto.com. Starting with version 0.0.170 we are pleased to announce we have added a new exchange to this mix: WOO X.
WOO X is a crypto trading platform that offers above-average liquidity, tighter spreads than other exchanges, and (almost) zero fees.
Let’s get started. Those already familiar with Nefertiti understand that you’ll need to be running two instances of the trading bot in tandem, that we simply refer to as
Setting up a
sell bot is the simplest command. We recommend setting this one up first. Open your terminal and then enter this:
./nefertiti sell --exchange=Woo
What the above command does is: sell your filled buy orders as soon as possible, for an average 5% profit.
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. Open your terminal and then enter this:
Let us go over each and every above option.
--market=all --quote=USDT tells Nefertiti that you will want to trade all the available markets that are paired with USDT.
--volume=10 tells Nefertiti to exclude markets where the 24-hour trading volume is lower than 10 BTC. Low-volume markets are easily manipulated and it is generally not in your best interest to trade those.
--price=10 --dca instructs Nefertiti that you’ll want to spend 10 USDT on average on a buy order, and that the trading bot is allowed to increase the order size slowly but surely should you have more (unsold) sell orders in your order book. In essence,
--dca is lowering your average buy price.
--top=1 tells Nefertiti that you’ll want the trading bot to open one limit buy order at a time, and one limit buy order only.
--strict is what instructs Nefertiti to respect your settings and not relax them. If you do not include
--strict then the bot can be very buy-happy. We include
--strict here because we want the buy bot to respect the default 5% dip and not relax it.
Last but not least,
--repeat=1 instructs Nefertiti to repeat the above strategy every hour. This is when Nefertiti will cancel your existing buy order (if any), re-compute where the strongest supports are, then re-place a limit buy order for you.
Nefertiti is freeware. But if the bot is making you money, then we would 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.