Gunbot Review 2023: Accelerate Your Crypto Trades!

• pragati
• October 26, 2022
• Crypto News
• 0 Comments

When the price rises, it sells the accumulated amount for profit. Double up is a Gunbot method for automatically averaging down assets, also called dollar cost averaging or DCA for short. This allows you to reach a lower average price per unit when prices keep on moving down, making for a lower possible exit price. Of course, if price keeps on moving down, this DCA strategy can increase overall loss.

Most Gunbot strategies for futures have slightly different triggers for trades than in normal spot trading. Gunbot will open a long or short position and close it when the target is reached. When a stop is hit before profitably closing a trade, Gunbot will place a stop order at a loss and then look for a new long or short position to open. Still using the same logic of trading as the spot variant of the strategy.

• Of course, if price keeps on moving down, this DCA strategy can increase overall loss.
• Choose between anything from the ADX, RSI, Stochastic, StochRSI, MFI, Moving Averages and more.
• At the time of this post , Gunbot has 17 customizable SPOT Trading Strategies and 14 customizable MARGIN Trading Strategies.

Gunbot is perfect when you want to accelerate your crypto trading. It’s likely the most privacy friendly trading bot out there, Gunbot collects no data at all about the trades users make. You can conduct automated trading of a variety of pairs on the cryptocurrency market with the support of the well-known automated cryptocurrency trading software called Gunbot. Use pre-existing trading strategies provided by the trading platform, or create your own.

Which crypto exchanges does Gunbot support?

The information about a specific cryptocurrency exchange or trading platform in reviews and guides may differ from the actual provider’s website. Based on existing user reviews, Gunbot has an overall 4.2-star rating on Trustpilot, indicating good customer service. Customers praise the support team for its responsiveness to solving issues and top-quality service across all the support platforms. Gunbot’s one-off fees are denominated in Bitcoin, which may not be suitable for everyone and will fluctuate with the rise and fall of the Bitcoin price. It should be noted that most exchanges connected to Gunbot will charge trading fees. However, some exchanges on Gunbot don’t require an API key to be registered.

OkGunbot, Gunthy, Beaxy, and Txbit are a few partner exchanges that don’t require an API key to be registered. In addition to other top cryptocurrency exchanges that do require an API slot, these can be used without charge. The CCXT library also supports lesser-known spot trading exchanges, however these might not have reached the same degree of reliability yet.

Features

This is a great way to limit risks and stop trading after you’ve reached your target for the day. Choose pairs that seem to be slowly moving upwards, stay away from markets that just encountered a huge pump. This allows you to make quick and BTC meaningful adjustments when you see the results are not what you expected. Binance partnership with Gunbot allows us to make even more gains with gridbots since we can benefit from Fees Rebates. Grid bots is the strategy developed by Gunthar De Niro specifically for Binance Futures and is customized to be used with the Market Makers bot.

Selecting a trading pair is often one of the most tedious tasks for a trader; Gunbot is able to do this for you. Once accustomed to the platform, we found that configuring bots and entering orders was seamless on the Gunbot trading terminal. It simplified the monitoring of trades by showing all trading pairs and investments across different exchanges in one place, eliminating the need to open and scan various assets.

Ten things new or novice Gunbot users should do

This is a crypto trading bot that hosts its services entirely on the cloud. That way, it can help you catch short periods of downtime that will have resulted in missed profits. Some trades made by one of the preset trading strategies in GunbotDid you just get your copy of Gunbot? Don’t go all in too soon, you’re better off when you put in some time and understand exactly what your are letting this software do with your money. The last step is to choose the coins that you want Gunbot to trade on and the strategy that will be used to each commerce pair. Individual pairs may be added, or filter rules such as “Top 10 volume USDT pairs” may be set.

Cryptohero app is easy to download, doesn’t overheat your phone, doesn’t use too much memory, and loads fast. They have a free platform and also a paid platform for their users. Advanced users with Python coding knowledge can use their browser-based Code Editor, which is the most advanced of its kind.

More from Gunbot

You may incorporate numerous trading algorithms and technical indicators into your bots thanks to the TradingView integration. Their specific built-in Terminals may also be used to develop DCA and Spread tactics. Crypto trading bots are automated tools that help you as a crypto trader conduct your trading and execute transactions using some technical indicators. You can customize your crypto trading bot to execute trade orders on your behalf according to certain specifications. In most cases, it is the best option for a feature-complete bot if you’re unsure about which bundle to purchase.

gunbot strategiess in Gunbot are calculated every few seconds, instead of every period close. When using moving averages there is usually a trade-off between lag and smoothness. Multiple formulas have been devised to reduce lag while maintaining smoothness, and each one has its trade-offs.

The most important factors of a https://www.beaxy.com/ are the buy and sell methods, these define the main logic for buy and sell orders. Gunbot has a professional support service via its dedicated team of customer support members. Users can reach the team via email support tickets to help them navigate the app or solve whatever issue they may have when using the app.

Exchange is optional.gb.method.buyLimitPromisePlaces a limit buy order, amount in quote. Amount in quote.gb.method.closeLimitPromisePlaces a limit close order, for futures. The indicators tab gives you control over how pre calculated indicator data is generated. You are not limited to using these indicators, this is just easily accessible data. Gunbot has many different methods for executing buy and sell orders.

provides 20 various ways to execute orders, and you can combine any of them to create unique trading strategies. For instance, you could configure Gunbot to buy an asset at a percentage from the lower Bollinger Band and sell it using the trailing stop/stop-loss method. There is no need for a subscription for their automated trading systems. For Gunbot Lifetime updates and licenses, all the novice users need to pay a one time license fee. When you wish to speed up your cryptocurrency trading, Gunbot is an ideal free crypto commerce option with lifetime license.

On Gunbot, backtesting happens using the popular crypto screener, Tradingview. It is a powerful platform to backtest and visualize tested trading performance. The great thing about developing custom trading strategies is that you have complete freedom. They can run unlimited instances of Gunbot, creating as many custom strategies as they like with as many configuration changes as needed.

C.A.T. communicate only with the Site you’re trading on and allowed only to trade. The CLEO.one platform contains more data than any other crypto trading platform on the web, so you can truly beat the competition. Strategies are created through simple typing, tested on historical data and with a single click deployed on the exchange of your choice. It takes countless hours, tireless learning through trial and error, focus and perseverance. Gunbot is a versatile trading bot for most popular crypto exchanges.

Buying with the Step gain strategy is also possible and also works with a range. You define a range below the EMA where the bot may buy; as soon as the trend changes from going down to going up, Gunbot buys. Parameters saved as pair override do not have to be known parameters in Gunbot, you can create your own settings this way.

You have the option of keeping some quote units or selling the entire quoted amount when selling. Gunbot can be configured to overlook “dust,” or small holdings below the exchange’s minimum free trade size. To reserve a fixed amount of base money at all times, use the funds reserve feature.

This is an attempt to convert gunbot’s SG strategy into a proper TradingView strategy. The problem is that SG Sell Level relies on % above purchase price, which we don’t actually know in TradingView. So we could try to get the average of the next bar or something, which maybe this is what the Slippage setting is? Couldn’t find the original author of the new MAs, so if you are, drop me a line for credit. The GRID bots strategy is intended to never stop trading because it follows the price lines and posts various buys orders and various sell orders at different levels. Simply unzip the software package and run it to complete the installation.

If you’re in a position, the bot will start selling at a loss because this strategy doesn’t consider BREAK EVEN unless the price is above your BREAK EVEN price. Also consider adding error handling to your code, especially for trading methods that have less chance to succeed than simple market orders. He started HedgewithCrypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world. Basically, the bot uses traders’ existing buy orders to accumulate more units of the quote currency after prices have moved downwards. So, when a coin price keeps dropping or going sideways at a lower level than the initial order, the bot can keep accumulating profits by continuously buying and selling.

• You need to download the app with Gunbot and then configure the bot with the API key that you obtain from the exchange.
• When prices decline, Gunbot can automatically acquire quote currency without making any additional investments beyond the initial buy order.
• Some traders notice that by the time they have done all the necessary things needed to use a bot, they no longer need the services.
• You can also use Gunbot for sell trailing for assets you bought manually.
• If you’re in a position, the bot will start selling at a loss because this strategy doesn’t consider BREAK EVEN unless the price is above your BREAK EVEN price.

For instance, you can choose the currency pair you want to exchange, how much you want to invest, and then set the strategy. While new and skilled traders can easily use Algo Signals, making cryptocurrency trading much more available. Gunbot is undoubtedly one of the most complete automatic trading systems available to cryptocurrency investors because of its enormous array of features and tools. More than 4000 active Bitcoin traders already utilize the Gunbot website.