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How to Trade Cryptocurrencies and begin to use crypto Bots successfully.
If you have funds on Yanda it is time to start trading and it's definitely time to start making more crypto to increase your portfolio profits!
If you don't have crypto on your trading account then please read this blog where we show you How to buy Bitcoin and Deposit Cryptocurrencies
If you don't have crypto on your trading account then please read this blog where we show you How to buy Bitcoin and Deposit Cryptocurrencies
How can Automated Trading Bots improve my trading activity?
The cryptocurrency markets are open 24/7 and are quite difficult to follow at any time, also the high volatility makes any prediction hard to make.
Mainly a Bot can place trade orders within a fraction of a second and will follow the market constantly, reducing drastically the risks due to the high volatility, nothing that a human being can achieve easily.
These are the main reasons why Bots are so widely used in the Cryptocurrencies markets around the globe, it can be possible that there are more Bots than real persons doing trading right now, that’s incredible!
The Yanda Automated Trading Bot is designed to be easy to set and understand, even for the less-experienced traders, providing to you tutorials and complete full support from our team through email and social channels.
The cryptocurrency markets are open 24/7 and are quite difficult to follow at any time, also the high volatility makes any prediction hard to make.
Mainly a Bot can place trade orders within a fraction of a second and will follow the market constantly, reducing drastically the risks due to the high volatility, nothing that a human being can achieve easily.
These are the main reasons why Bots are so widely used in the Cryptocurrencies markets around the globe, it can be possible that there are more Bots than real persons doing trading right now, that’s incredible!
The Yanda Automated Trading Bot is designed to be easy to set and understand, even for the less-experienced traders, providing to you tutorials and complete full support from our team through email and social channels.
How to launch a Trading Bot on Yanda
Let’s see now how to launch a Bot on Yanda.
Here’s a quick demo video showing you exactly how to create an automated crypto bot on the Yanda trading platform.
Let’s see now how to launch a Bot on Yanda.
Here’s a quick demo video showing you exactly how to create an automated crypto bot on the Yanda trading platform.
To create a Bot first go to “Trading Bot Creator”, you’ll find it on the side menu.
Markets and Balance
The first thing to do to start trading is to select a market pair. You can select the market by browsing the scroll menu(1) and click on the pair you prefer. The market balances(2) will be updated once the page is loaded.
The first thing to do to start trading is to select a market pair. You can select the market by browsing the scroll menu(1) and click on the pair you prefer. The market balances(2) will be updated once the page is loaded.
The balance box is showing the balances of both pair base asset (3) and pair quote asset(4) of the market pair and for each of them the Reserved(5) and Available(6) balances. Reserved balance shows the amount "busy" in other open orders, the Available balance is the one that you can immediately use for trading.
The pair base is the first currency that composes the pair (the one on the left), while the pair quote is the second (the one on the right), and the price of the market pair base is always calculated in units of the pair quote.
The Available Balance is the current amount of a specific coin immediately available for trading.
The Reserved Balance is the amount currently locked in open orders.
You can only launch a Bot if you have enough Available Balance, check how to add funds on Yanda here >> How to buy Bitcoin or Deposit Crypto.
The Available Balance is the current amount of a specific coin immediately available for trading.
The Reserved Balance is the amount currently locked in open orders.
You can only launch a Bot if you have enough Available Balance, check how to add funds on Yanda here >> How to buy Bitcoin or Deposit Crypto.
Initial asset and Investment
Now it's time to choose what and how much to invest, you can choose to start with the base asset or with the quote, but the amount must be equal to or less than your Available Balance.
Choose the Initial Asset(7) and the Initial Investment(8), be aware that if the amount is not enough Yanda will suggest to you the minimum investment required for that market. The suggestion is displayed in red and it is mandatory for the trader to meet this minimum requirement.
Now it's time to choose what and how much to invest, you can choose to start with the base asset or with the quote, but the amount must be equal to or less than your Available Balance.
Choose the Initial Asset(7) and the Initial Investment(8), be aware that if the amount is not enough Yanda will suggest to you the minimum investment required for that market. The suggestion is displayed in red and it is mandatory for the trader to meet this minimum requirement.
Stop Losses
This feature comes really handy when the market is falling and you are not monitoring it, choose the percentage of your choice, from 5 to 100%, and you are good to go.
How does it work? If the pair base value in quote falls of the percentage you previously selected, then the Bot stops all the activity, reducing the risks and giving you the opportunity to change the market.
This feature comes really handy when the market is falling and you are not monitoring it, choose the percentage of your choice, from 5 to 100%, and you are good to go.
How does it work? If the pair base value in quote falls of the percentage you previously selected, then the Bot stops all the activity, reducing the risks and giving you the opportunity to change the market.
Profits
Now it’s time to choose how much you want to earn with each pair side, select a percentage of your choice and you are good to go.
Be aware that the minimum profits required are related to the investment amount, higher is the amount and lesser is the profit percentage you can set, an error will be displayed(9) if the percentage is not enough.
Of course, you can set a really big percentage amount, but that doesn’t mean the Bot is going to achieve that goal, lesser profits are more likely to be reached than a bigger one, it all depends on your trading plan!
Now it’s time to choose how much you want to earn with each pair side, select a percentage of your choice and you are good to go.
Be aware that the minimum profits required are related to the investment amount, higher is the amount and lesser is the profit percentage you can set, an error will be displayed(9) if the percentage is not enough.
Of course, you can set a really big percentage amount, but that doesn’t mean the Bot is going to achieve that goal, lesser profits are more likely to be reached than a bigger one, it all depends on your trading plan!
Lock-in and End Asset
Here you have to choose which coin(10) of the pair you want to own at the end of the trading, and the Lock-in profits percentage(11), the Bot will stop trading once it reached the amount of profits you selected, from a minimum of 0,1%, with the chosen asset.
Here you have to choose which coin(10) of the pair you want to own at the end of the trading, and the Lock-in profits percentage(11), the Bot will stop trading once it reached the amount of profits you selected, from a minimum of 0,1%, with the chosen asset.
After that, you are ready to launch your Bot, click on “Start Trading Bot” and you will see a pop-up
Congratulations! Now your Bot is running, you can go and have a walk.
Advanced Parameters
Advanced parameters are meant to be for experienced traders, once you've mastered and fully understand how the bot works you can think to add them on your trading strategy.
Advanced parameters are meant to be for experienced traders, once you've mastered and fully understand how the bot works you can think to add them on your trading strategy.
Kick-in price
With this field, you can set a pair base price and the Bot will start trade once the price is reached in the market. Enable the field by clicking here(12) and type the amount(13)
With this field, you can set a pair base price and the Bot will start trade once the price is reached in the market. Enable the field by clicking here(12) and type the amount(13)
Restarts
Be careful, these fields are just for experienced traders willing to accept higher risks.
The bot will restart the same strategy with the same parameters, but with a different entry price.
Be careful, these fields are just for experienced traders willing to accept higher risks.
The bot will restart the same strategy with the same parameters, but with a different entry price.
Monitoring Bots
Once you have a Bot, or more, running on Yanda you can easily monitor them on the “Trading Bots”(1) section on the side menu.
Here there are two lists, one for Running Bots(2) and one for Closed Bots(3). Each Bot has a Details button(4), from where you can see all the info you need, and a Terminate(5) button if you want to close it.
Once you have a Bot, or more, running on Yanda you can easily monitor them on the “Trading Bots”(1) section on the side menu.
Here there are two lists, one for Running Bots(2) and one for Closed Bots(3). Each Bot has a Details button(4), from where you can see all the info you need, and a Terminate(5) button if you want to close it.
Open Orders
The orders history is kept on the Manual Trading(6) section, once you are on the page scroll down to see both Open Orders(7) and Closed Orders(8)
The orders history is kept on the Manual Trading(6) section, once you are on the page scroll down to see both Open Orders(7) and Closed Orders(8)
On Open Orders, you will see both orders opened manually and orders opened by Bots.
Orders opened manually will be displayed normally with a terminate button.
Orders opened by Bots cannot be cancelled manually, to cancel them you need to close the Bot, all the Details will be displayed as usual on the Details button.
Orders opened manually will be displayed normally with a terminate button.
Orders opened by Bots cannot be cancelled manually, to cancel them you need to close the Bot, all the Details will be displayed as usual on the Details button.
MARCH, 16 / 2018
Author: Francesco Greco
© 2021 BMYBIT Ltd
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