Our guide for beginners will help you learn more about crypto trading bots and introduce you to a few of our favorite trading bots currently available. Before getting started with a cryptocurrency trading bot, figure out which platform fits your needs best.
There are plenty of options currently on the markets, so you can find a trading bot that fits your needs best. It's also a good idea to start a free trial, if possible, before subscribing to a trading bot. This will give you a good idea of whether or not the automated trading software is right for you.
Without further adieu, let's get into the best crypto trading bots. Pionex is a cryptocurrency exchange with built-in trading bots. Pionex features low trading commissions and a fully fleshed-out mobile app. We believe Pionex would be a great option for high-volume and mobile investors. Though Pionex supports manual trading using crypto-to-crypto conversions, its primary product is its trading bot selection. A cryptocurrency trading bot is an automated program that executes buy and sell orders with no manual input when specific, pre-defined market conditions are met.
Plus, the Smart Trade terminal allows traders to set up stop-loss, take profit, trailing in one trade. The crypto trading bot currently allows users to customize investing with more than trading templates automatically executed when market conditions meet predefined parameters.
From accumulation to long-term holding strategies and stop-loss settings, Coinrule constantly introduces new templates to its platform. Additional paid packages include features like advanced charting options, unlimited template usage and even one-on-one trading tutorials and lessons. When you use Shrimpy. Connecting to several exchanges is possible, and you can add as many wallets as you need.
Choose the account style you prefer, be it Starter, Professional or Enterprise. Use a demo account to test your investment options. Use social trading to copy an expert. This is a simple platform that allows you to consolidate your investments when you might have spread your money across several different exchanges.
The cryptocurrency market is constantly moving — even short periods of down time can result in missed profits when you rely on a cryptocurrency trading bot. This means that the bot experiences no downtime and updates are served without interrupting your trading or putting a halt on your account. Even when your network is offline, your Cryptohopper account will continue working.
Cryptohopper also offers an easy and intuitive setup process, with no credit card information required to join. Simply sign up for your account and get started investing — no platform installation required. The bot also integrates social sentiments with other investors, which can further enhance your trading and help you refine your strategy. Trality is a platform for anybody who wants to create highly intricate, super-creative algorithms within an educational, community-driven infrastructure that promotes learning and development as a trader.
Founded in Vienna in , the platform has quickly become one of the most popular choices worldwide for both beginner and advanced crypto traders. For advanced users who know Python coding, Trality's browser-based Code Editor is the most advanced of its kind. This tool allows developers to make use of their coding knowledge to create intricate and advanced strategies securely and fast.
Both of their tools allow you to perform lightning-quick backtests so you can validate your algorithms before deploying your new bot into a live market and you can paper trade to see how it is performing right now without using real money. Trality is absolutely FREE to get started with flexible pricing plans for all sorts of users. A cryptocurrency trading bot is a computer program or application that trades cryptocurrency for you based on predefined conditions.
Most crypto trading applications work in a straightforward manner — you authorize the bot to buy or sell an asset if and when it reaches a specific price point or indicator. You can customize your crypto bot to execute orders according to your unique trading strategy.
The supported cryptocurrencies, exchanges and account options available through your trading bot will vary depending on the provider you choose. Many crypto trading bots purport a high level of successful trades. However, remember that the cryptocurrency market constantly changes and price trends always fluctuate. If you plan to take a completely hands-off role when it comes to investing, you may not see the same type of results that you would actively managing and reprogramming your trading bot based on market conditions.
Crypto trading bots can help you make more educated trades and remove some of the emotions that might lead to increased losses. They cannot guarantee a profit for any investor and they may quickly become less useful during periods of high market volatility. Some of the advantages that come with using a crypto trading bot include:. Crypto trading bots offer more efficiency, scanning entire sections of the cryptocurrency market in as little as a fraction of a second. Your crypto bot can also enter and execute orders faster than you can enter the same orders manually.
Some of the disadvantages that come with using these features include:. Tracking how some of the largest cryptocurrencies move and practicing different strategies with a paper trading account can help you enter the market more effectively. A trade bot, then, allows you to dip your toes in the market while providing excellent guidance. My account. My Account.
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Best High-Volume Penny Stocks. Fintech News. Personal Finance Compare Online Brokers. Stock Brokers. Forex Brokers. Futures Brokers. The function definitions in this class use type hinting to define argument and return value types. Using qtpylib , we can easily find the crossover point. By default, the generated freqtrade strategy file includes more options, such as ROI Return On Investment and stop-loss, discussed in part two of the article series. We'll disable them for now:. Having defined our simple strategy, now we want to evaluate it using historical data using backtesting , which allows us to place trades in the past to see how they would have performed.
Backtesting isn't a perfect representation of how well our strategy would have performed because other factors affect returns in live markets, such as slippage. To perform backtesting with freqtrade, we can run the following command using the class and functions we just created:.
Sell reason stats This report shows us the performance of the sell reasons. Based on our strategy, we only used the sell signal, so we only have 1 row. We will see this in the next article of the series. Left Open Trades Report This part of the report shows any trades that were left open at the end of the backtesting. In our case, we don't have any and in general, it is not very important as it represents the ending state of the backtesting. Summary metrics Personally, this is the area I usually look at first.
The most important parts to point out are the following:. To understand the report in its entirety, make sure to read the relevant docs. We can see that only six trades occurred. These trades generated a profit of 5. This result is not impressive, considering the risk involved. However, this strategy is as simple as it gets and has vast room for improvement:. Comparing to buy and hold Just holding ETH, i.
It is important to test our strategy in different conditions - that is not only when the market is growing, but also when it is shrinking. Trading more coin-pairs We only considered Ethereum, which is one of the hundreds of coins we can trade. This limit only allows for one trade to happen at a time, which is clearly suboptimal. Using more advanced strategies We used arguably one of the simplest strategies out there, which used only simple moving averages as indicators.
Adding complexity doesn't necessarily mean better performance, but there's a massive number of indicator combinations we can backtest against eachother to find the best strategy. Optimizing parameters Currently, we haven't attempted to optimized any hyperparameters, such as moving average period, return of investment, and stop-loss. Smaller time periods We only considered daily candlesticks, which is one of the reasons why the bot finds only about 0.
A bot can potentially make more profit by making more frequent trades and looking at more fine-detailed candlesticks. To utilize freqtrade's plot commands, we will need to alter the docker-compose. The only thing we need to do is comment out one line and uncomment another. See the following excerpt from the file to see an example:. This tells docker-compose to pull the freqtrade Docker image that contains the correct plotting libraries.
These must be defined inside the strategy specified with the -s option. By default, this creates a plotly html file available in the plot directory:. You can view a full version of this interactive plot here. Hover over the plot to see how the bot actually does what we wanted it to do, as defined by our simple moving average strategy:. To see what else you can do with plot-dataframe , run docker-compose freqtrade plot-dataframe -h or visit the relevant docs.
I want to acknowledge freqtrade's helpful, well-written documentation, from which this article has taken much inspiration. I'd like to thank the developers for their effort in creating such an fantastic tool for all of us to use.
Currently he is working as a Research Data Scientist on a Deep Learning based fire risk prediction system. The internet's best data science courses View Courses. Toggle navigation. You are reading tutorials. Author: Ioannis Prapas Data Scientist. How to backtest strategies and trade cryptocurrency with Python using freqtrade. In this first part, you'll see: Freqtrade's basic functionality and crypto-market terms — We'll learn how freqtrade works, how to navigate the command-line tool to download historical market data, create a new configuration file, and a new strategy.
Backtesting a strategy on historical data to determine our strategy's performance — We'll see how to generate full reports, as well as plots to visualize our bot's simulated trades. In the second part, we'll go into more advanced topics, such as: Trading with more coin pairs Understanding and defining Return On Investment ROI and Stoploss Optimizing our strategies Live deployment Suggestions for further improvement.
Note Please be aware of freqtrade's disclaimer paraphrased : "This software is for educational purposes only. Freqtrade is a cryptocurrency algorithmic trading software written in Python. It allows you to: Develop a strategy : easily using Python and pandas.
We'll be creating a simple strategy in this article, and you can view freqtrade's example strategies repo. Download market data : quickly download historical price data of the cryptocurrency of your choice. Backtest : test your strategy on historical data. Backtesting is a critical step to see if your strategy has any chance of making money in the real world.
It is not a guarantee for actual performance since market conditions are more complex than the downloaded data. Optimize : find the best parameters for your strategy with hyperopt. Select coin pairs to trade : your selection can be static or dynamic based on simple filters, such as if trading volume greater than a certain amount. Dry run : test a strategy on live data with a simulated wallet.
Live run : deploy a strategy using real money via a crypto exchange's API. This is the last step after you know what you are doing and are willing to lose all your money. Use a Telegram Bot : control and monitor your strategies through Telegram. Analyze and visualize trading history : utilize trading data from save files or via an SQL database. Ok, let's dive in by starting with the installation.
Docker - easiest method for all platforms. You can now set up freqtrade by issuing the following commands in your desired directory:. You should now have the following directory structure:. How do I install freqtrade without Docker?
In my case, using Ubuntu To verify the installation was successful, run freqtrade --help Important Note : If you install freqtrade directly, you won't need to preface your commands with docker-compose run --rm like we have in the remainder of this article. To verify freqtrade is installed correctly and ready for use, issue the help command:.
You should see the following output. Backtesting: How freqtrade tests trading strategies. This initiates a new loop in live runs, while in backtesting, this is needed only once. Here, you can use any exchange that freqtrade supports.
This command generated the file:. Where the columns mean the following: time: Unix timestamp in milliseconds Open: Opening price at the beginning of the candlestick High: Highest price reached during the candlestick Low: Lowest price reached during the candlestick Close: Closing price at the end of the candlestick Volume: Quantity of asset bought or sold, displayed in base currency, in our case ETH.
BTC is the quote currency.
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