This turotrial explains how our Buy settings in the Baseconfig work and what the different buy settings are.
For more information on the General settings in the Baseconfig, click here.
Fore more information on the Selling settings in the Baseconfig, click here.
How buy settings work
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 currency 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 bot 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 Signalers and will only work for new trades.
Shorting, on the other hand, can be used for positions that you already possess. Once a currency you own has been sold, your quote currency will be reserved to buy more of the same currency later on. Think of it like an advanced buyback, where the currency 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 currencies 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 currency. This can result in even more losses! DCA and Shorting cannot be used together and can be used for Manual Buy, Strategy, and Signalers.
Select what order type your bot should use for buying. Market orders will be filled immediately, but could result in lower profits or bigger losses. Especially when there’s low volume or high volatility in the market. Limit orders are orders for a specific price that usually take longer to get filled.
Max open time buy
Fill in the number of minutes a buy order should be open before the order is canceled. A small portion of your funds are reserved when an order is placed, so you want to cancel orders to have funds free to make other trades.
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 positions
Fill in the number of open positions your bot can have open at a time. This can not exceed the maximum that your subscription allows.
Max percentage open positions per currency
Fill in the maximum number of open positions per currency. Use this if you don't want to get stuck with only one currency. It also helps to diversify. This can not exceed the calculated value, which is a percentage of the “max open positions” field. For example, you allow max 100 open positions and 4% open positions per currency. Your bot will allow 4 open positions per coin type of the 100 total open positions.
Only 1 open buy order per currency
Switch the toggle so your bot will only have 1 open order per currency. Manual orders don’t count. This setting prevents you from getting stuck with many positions of the same currency. Note: Multiple positions of a currency can still be opened. You can configure this with “Max percentage open positions per coin”.
Only buy when there are positive pairs
Switch the toggle so your bot will only buy currencies if there has been a positive change % in the last X hours/minutes. When there’re no positive pairs your bot 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)
Fill in the timeframe to check if there’re only positive pairs. For example, if you fill in 1 day and all the markets are going down in a 1-day timeframe, your bot will not buy.
Only buy when there are positive pairs
When enabled, the bot will not place a new buy order if there is an open position within the current price range for the currency.
For example, if you configure 1 percent, the bot will not place a buy order if you own a position of the same currency that is either up or down less than 1 percent.
Switch the toggle so your bot will not try to buy a currency within your chosen cooldown period after a buy, sell or both. This prevents your bot from buying too much of the same currency when it receives multiple buy signals shortly after each other.
Select if you want a cooldown period after buys, sells or both
Fill in the number of minutes your bot is in the cooldown period for a currency.
Auto merge positions
Switch the toggle so all the positions of the same currency will be merged every time. This is interesting when you automatically synchronize positions. When you enable auto-merge, the "max positions per currency" won't be taken into account as all positions will be merged into one position.
Troubleshooting the buy settings
If your bot isn't buying, there are a few things you should check:.
- Make sure the bot isn't in cooldown.
- Make sure that you have enough balance in your quote currency.
- Make sure that you can still open positions.
- If you have only buy when positive pairs are enabled, make sure that the currencies are positive.
Currencies & Amounts
Select the currency you want to use to buy positions. Your bot will work to increase the amount of this currency. We recommend starting with a "stable" currency like the Euro, USD or USDT. It's easier to trade when your quote currency is stable, so you can measure if you've made a profit. Experienced traders trade from crypto to crypto. They want to gather more cryptocurrencies regardless of what the market does. With this way of trading, it’s harder to predict profits/losses when your currencies are unstable. When you change your quote currency your bot will remove all your positions before it can change. You can sync these positions again on the Dashboard.
Select the currencies you want to buy and sell. This is one of your most important settings. Do your research on which currencies you want to trade.
Percentage buy amount
Fill in the size of each buy order. This value is a percentage of your total assets, or the “Maximum amount allocated” field, if configured. When this value falls below your exchange’s “Minimum amount per order,” that value will be used instead. Fill in the minimum amount for every buy order. If “Percentage buy amount” is not used or left blank, your bot will use this value. Set this equal to or higher than the minimum amount for your exchange and quote currency. When your available funds are lower than the minimum amount configured, the bot will disregard the minimum. Your bot will use the available funds.
Minimum BTC amount per order
Fill in the minimum amount for every buy order. If “Percentage buy amount” is not used or left blank, your bot will use this value. Set this equal to or higher than the minimum amount for your exchange and quote currency. When your available funds are lower than the minimum amount configured, the bot will disregard the minimum. Your bot will use the available funds.
Force minimum buy amount
When enabled your bot will not place orders when you do not have enough funds for the Minimum buy amount.
Maximum BTC amount allocated
Fill in the maximum amount your bot may use from the total assets. For example. You have 1 BTC and you fill in 0.5 at maximum amount allocated, your bot will only use 0.5 BTC. In other words, 0.5 can be in other positions than BTC. Your bot sees the total assets minus the reserved funds. So the reserved funds can’t be used. If this amount is less than the maximum amount allocated, your bot will use smaller buy amounts for new positions.
Trouble shooting the currencies & amounts
If your bot 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.
Select the buying strategy you want to use. We recommend building and testing your strategy in the Strategy Builder. You can choose to disable strategies and follow signals only. You can also configure the strategy you bought on the Marketplace, select the one you have built yourself or select the Algorithm Intelligence you trained. When a strategy is enabled your bot will scan the markets with the configured indicators. Looking for potential buying opportunities. The amount of time between scans is based on your subscription.
Switch the toggle to only follow signals. TradingView alerts that create a buy or a sell signal are also signals.
Number of targets to buy
Fill in the number of target that your bot should buy when your strategy finds multiple currencies at the same time. For example. If you fill in 3 and the bot finds 5. Your bot will buy the best 3. Sorted by the number of indicators and buy signals it hit. 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 bot 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 quote currency.
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 currency 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 bot 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.
Switch the toggle to enable Trailing Stop-Buy.
Trailing Stop-Buy percentage
Fill in the percentage that the price should rise before your Trailing Stop-Buy is triggered.