Documentation and explanation
The bot uses your settings as a base to trade. Lets see how you should set things up.
First thing you have to do is adding your exchange api key details. NOTE: We do not require "Transfer" permissions as we do NOT and will NOT own your funds. We only need the "View" and "Trade" permissions to be able to trade in your behalf.
Visit the Profile -> Bot page.
You should see the following:
Bot key - this is the unique identifier of your account. You do not need to change or care about this value.
Key - paste here the coinbase | Pro API key
Secret - paste here the coinbase | Pro API secret
Passphrase - paste here the coinbase | Pro API passphrase
Configuration - This is the most IMPORTANT part! Please use the configuration sample - Download
Copy and paste the configuration sample from the .txt file into the CONFIGURATION field
Now it should look like this:
For every pair there are 9 parameters that you can edit:
- This is the pair. For example: ETH-EUR, BTC-EUR, OMG-EUR etc.
- Determines the price from where the algorithm starts. This is usually the actual price of the cryptocurrency.
- (cents) When current_price is 10 and start_sell_at_price_difference is 0, the bot will execute the first SELL order at 10 EUR (current_price + start_sell_at_price_difference)
- (cents) When current_price is 10 and start_sell_at_price_difference is 2, the bot will execute the first BUY order at 8 EUR (current_price - start_buy_at_price_difference)
- Indicates the size of every order. bunch_size 50 will execute every order with size 50. For example 50 OMG
- (euros) Indicates the EUR balance that you want to allow the bot to place BUY orders. When its set to 0 no BUY orders will be executed.
- Indicates the Cryptocurrency balance that you want to allow the bot to place SELL orders. When its set to 50 every order will be executed with size 50.
- (cents) Shows the price difference for the new BUY or SELL orders. For example: if price_diff is 100 (100 cents=1 EUR) when 1 OMG is bought at 5 EUR, the bot will execute SELL order for 6 EUR. When 1 OMG is sold for 8 EUR, the bot will execute BUY order for 7 EUR.
- (cents) Indicates the incremental step for the orders. For example: When current_price is 20 EUR, crypto_balance is 100, bunch_size is 5 and step is 10 cents - the bot will execute 20 orders with size 5 starting to SELL at price 20 with 10 cents increments (SELL 5 at 20.00 EUR, SELL 5 at 20.10 EUR, SELL 5 at 20.20 EUR, SELL 5 at 20.30 EUR.... etc)
Select the pair
Once you select the pair from the drop-down, the "EXECUTES ORDERS" button will be activated.
Time to press "EXECUTE ORDERS"
Congratulations! The orders are now sent to the exchange and every time an order is filled, the bot will execute a new order to make profits.
Now you can track your orders, cancel an order and see the filled orders.
Every time the condition is met (usually a price level) the bot will BUY or SELL as per your instructions to maximize your profits.
Have a question? Do not hesitate to contact us.