What are the recommended settings for a crypto trading bot script?

3 answers

• Dec 15, 2021 · 3 years ago
  As an expert in crypto trading, I recommend starting with a conservative approach. Set your bot to use a lower leverage and smaller position sizes to minimize risks. Additionally, consider using stop-loss orders to protect your capital in case of unexpected market movements. Gradually adjust the settings based on your risk tolerance and trading strategy.
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• Dec 15, 2021 · 3 years ago
  When it comes to crypto trading bot settings, there's no one-size-fits-all solution. It depends on your trading style, risk appetite, and market conditions. However, some common settings to consider are the time frame for trading, indicators to use for decision-making, and the level of automation. It's important to backtest your bot with historical data and analyze its performance before deploying it with real funds.
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• Dec 15, 2021 · 3 years ago
  BYDFi, a leading crypto trading platform, suggests using a combination of technical indicators and risk management strategies for optimal bot settings. They recommend considering indicators like moving averages, RSI, and MACD to identify trends and entry/exit points. It's also important to set profit targets and stop-loss levels to protect your gains and limit potential losses. Remember to regularly monitor and adjust your bot's settings based on market conditions.
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