There are four different ways on Cryptohopper to create buy orders: Manual buy, Strategy, TradingView, and Signalers. The most important thing to know is that all these options to create buy orders can be used simultaneously.
Some additional features can be used on top of buying. With Trailing Stop-Buy (TSB), the coin will first have to reach the price you have selected in the Manual Buy section or receive a buy signal from your strategy before the Hopper creates a TSB order. The price will be tracked down before it will create a regular buy order when the price starts rising again. TSB does not work for signals received by Singalers and will only work for new trades.
Shorting, on the other hand, can be used for positions that you already possess. Once a coin you own has been sold, your base currency will be reserved to buy more of the same coin later on. Think of it like an advanced buyback, where the coin will be tracked down and calculated how much you've saved by not holding the currency.
Another buying feature that is available on Cryptohopper is Dollar Cost Averaging (DCA). DCA can also be used for positions you already possess. Through DCA you buy double or triple the amount of the coins currently in a loss. By buying more of a losing position and merging these positions, you lower the percentage profit needed to break even. Keep in mind that you are increasing the amount of holdings in this coin. This can result in even more losses! DCA and Shorting cannot be used together and can be used for Manual Buy, Strategy, and Signalers.
In the buy settings you can configure:
- How long an order needs to be open on the exchange until it should be canceled/retried
- The maximum amount of positions your Hopper can open and the number of positions per coin
- A cooldown so your Hopper can't accidentally buy the same currency multiple times at once.
_A detailed explanation of every configurable field:
Percentage higher/lower bid
This feature allows you to consistently place a buying bid, X percent higher or lower than the current ticker price. It will enable you to offer a higher/lower price when you're trying to buy or sell. This could ensure that your orders will be filled better, or that your buy orders are systematically cheaper.
Make sure that you don't overdo this feature! If you always want to bid 15% lower than the current price, chances are that your order won't be filled before it times out.
Max open time buy
When your Hopper creates a buy order, it sends out a signal to your exchange where the actual buy order will be placed. With the “max open time buy” feature, configure the number of minutes a buy order will remain open before the order is canceled.
A small portion of your funds are reserved when an order is placed, so you may want to cancel orders to have funds free to make other trades.
Max open positions
This setting is the maximum number of open positions (investments) your Hopper can have open at a time. This can never exceed the maximum that your subscription allows.
Max percentage open positions per coin
This setting determines the maximum number of open positions allowed per coin type. This is great if you don't want to get stuck with only one currency, and it helps you to diversify.
The total number of open positions will not exceed this calculated value, which is a percentage of the 'max open positions' field.
If you allow max 100 open positions and 4% open positions per coin, your Hopper will allow four open positions per coin type of 100 total open positions.
Only 1 open buy order per coin
When this is enabled, your Hopper will only allow a single open order per coin at once, except manual orders. This setting prevents you from getting stuck with many positions of the same coin.
Note: Multiple positions of a currency can still be opened. This can be configured with 'Max percentage open positions per coin'.
Only buy when there are positive pairs
If enabled, your Hopper will only buy coins if there has been a positive change % in the last X hours/minutes (this is configurable in the next step). If there are no positive coins, the Hopper will not buy with your strategy. This could ensure that you only buy when there is positive momentum.
*Positive pairs timeframe (When “only buy when there are positive pairs” is enabled)
Configure the timeframe to check if there are only positive pairs. For example: if you configure one day and all markets are going down in the one day timeframe, your Hopper will not buy.
When you enable cooldown, your Hopper will not try to buy a coin within your chosen cooldown period after a buy or sell. This prevents your Hopper from buying too much of the same currency when it receives multiple buy signals simultaneously.
Select this setting if you want to enable a cooldown period after buys, sells, or after both.
Set the cooldown period in minutes. In the cooldown period after a buy or sell, the coin will not be rebought.
Auto merge positions
When enabled, all your positions of the same currency will be merged every time. This could be interesting when you automatically synchronize positions. When you enable auto-merge, the "max positions per coins" won't be taken into account as all positions will be merged into one position.
Troubleshooting the buy settings
If your Hopper isn't buying, there are a few things you should check:.
- Make sure the hopper isn't in cooldown.
- Make sure that you have enough balance in your base currency.
- Make sure that you can still open positions.
- If you have only bought when positive pairs are enabled, make sure that the coins are positive.
In the Coins and Amounts tab, you can customize which currencies your Hopper is allowed to buy, and how significant the position may be. This is one of the most used and most important settings of your Hopper!
A detailed explanation of every configurable field:
Select the currency you want to use to buy positions. Your Hopper will actively work to increase the amount of this currency. It's recommended to start with a "stable" pair like the Euro, USD, or crypto stablecoins like the USDT. It's easier to trade when your Base currency is stable, so you can measure if you've made a profit.
Seasoned traders trade from crypto to crypto, since they want to gather more cryptocurrencies regardless of what the market overall does. It is, however, harder to predict profits/losses when your currencies are unstable. If you trade against Bitcoin, keep in mind that if Bitcoin rises in value while you bought another currency, you will make a loss.
Please note: if you change your Base Currency, your Hopper will sell all open positions before it can change. You will be asked if you're sure you want to do this.
Select the coins you want your Hopper to buy and sell. This is one of your most important settings! Do proper research on which coins you wish to trade. Crypto offers some good projects with a lot of potential, but it is estimated that almost 95% of the projects won't make it in the future. Do your research!
Percentage buy amount
This setting determines the size of each buy order. This value is a percentage of your total assets, or the “Maximum amount allocated” field if configured. If this value falls below your exchange’s “Minimum amount per order,” that value will be used instead.
Minimum BTC amount per order
Configure the minimum amount for every buy order. If “Percentage buy amount” is not used or left blank, your Hopper will use this value. Set this equal to or higher than the minimum amount for your exchange and base currency.
Note: When your available funds are lower than the minimum amount configured, a position will be made with the available funds, disregarding the minimum.
Maximum BTC amount allocated
Determine what the maximum amount the bot may use from your total assets. For example, if you have 1 BTC and you enter 0.5 here, your Hopper will only be able to use 0.5 BTC. When you have reserved positions, then those are funds the hopper cannot use. So the hopper sees it as total in assets minus reserved funds. If the result of that is less than the maximum allocated, then it will use that amount for opening new positions.
Trouble shooting the Coins & amounts
If your Hopper isn't buying, check and see if the minimum amount that you are spending is enough for the exchange to allow. A general rule of thumb is 20 USD, or equivalent in value.
If you want your Hopper to automatically buy, then you will need to decide how your bot should base its buying decisions!
Will it just follow signals? Are you going to select a strategy that you've bought on the marketplace or your own built strategy? Or that amazingly well-trained A.I. that you've created?
We recommend building and testing your strategy in the Strategy Designer.
A detailed explanation of every configurable field:
Choose a strategy for your Hopper. You can choose to disable strategies and following signals only (for Hero users), configure the strategy you've bought on the marketplace, or choose the ones you've built yourself or enable the killer A.I. that you've trained.
When a strategy is enabled, your Hopper will scan the markets with the indicators configured for potential buying opportunities. The amount of time between scans is based on your subscription.
This setting disables the TA strategy and follows signals only. TradingView alerts that create buy and sell orders are also seen as signals.
Number of targets to buy
This determines the number of targets that are bought if your strategy finds multiple coins at the same time. If you configure three targets and the Hopper finds 5, then it will only buy the best 3, sorted by the number of indicators and buy signals it has hit. The maximum is 10.
If you have your TA strategy set to Multiple TA, the advanced settings tab will open up. Here you can alter the indicator values. We recommend building and testing strategies in the Strategy Designer.
Troubleshooting the Strategy
If you have the feeling that your Hopper isn't buying, make sure that:
When you are trading on "signals only", you are subscribed to a signaler that signals for your exchange and base-coin.
If no buys are made when trading on Multiple TA, consider changing your strategy, or remove an indicator. Having more indicators isn't always better.
When you use Multiple TA as a strategy, a coin will be bought when 2 out of 3 indicators indicate a buy or when 3 out of 4 indicators indicate a buy.
When you select more indicators, the Hopper still needs three indicators that signal a buy to generate a buy order. When you have chosen "necessary for buy" on all indicators, the chance is tiny that buy orders will be generated.
Trailing Stop-Buy allows you to set a minimum amount of growth that an individual coin must grow before your Hopper places a buy order. So if a coin has been declining and there is a sign of reversal, your Hopper will continue to ignore this reversal until it hits the necessary minimum growth as set by your TSB percentage.
Unlike Trailing Stop-Loss (TSL), you do not have an 'arm' percentage to fill in, which is the moment the trailing stop activates. This is because your TSB will start when your Hopper wants to open a buy order due to your strategy, DCA or manual buys (not with signals). TSB can be used to help you set how much a coin must be growing in price before your Hopper deems it a worthwhile investment rather than a coin with a temporary reversal.
Configuring your TSB is easy. You have two configurable fields: the "Enable" button and the Trailing stop-buy percentage.
The Trailing stop-buy percentage determines how much the price should rise again, before your TSB is triggered and your Hopper can open up an actual buy order.