How to Send Alerts from Tradingview to Telegram I found a new way for sending alerts from tradingview to telegram channel or telegram group by using webhook. I’ve been looking for a while and most of the ways had problems. Some of them had delays in sending the alerts and were not secure because they were using public bots. Some of them required money and were not free. Some of the ways needed coding knowledge. The way I recommend does not have these problems.
It has three simple steps:
1. Creating a telegram channel or group;
2. Creating a telegram bot by using botfather;
3. Signing in/up in pipedream.com.
I made a video for presenting my way. I hope it was helpful and if you have any questions make sure to comment so I can help you.
Thank you!
Bot
My rec who loses too much on trading. Relax and gain knowledge I recommend to stop trading who loses too much. Instead you can run AI trading bot in OKX platform. My referral okx.com
1) Choose Future DCA Martingale
2) Go to AI strategy tab
3) Choose ETHFI/USDT perpetual (with other pairs you should put big amount, but with like ETHFI, TON you can only put around 30 coins)
4) Choose Mid-term moderate bullish (Short-term aggressive bullish, doesn’t work well for me and haven’t tried long-term last one from list. Only use mid-term, that’s should be enough)
5) Don’t touch leverage, leave as is
6) Put amount of sum (I actually put all what I have)
7) But you should check after BTC movement, if BTC in downtrend stop the bot, if it reversal to uptrend then run again AI bot. With other all bots, didn’t get the same result.
8) That is it.
Just wait and you can see how AI earns for you.
This is better than lost money every day. With this method you can relax. When you will ready and gained trading knowledge, you can return to analysis and to earn more. You can also select SPOT DCA Martingale and same settings.
I think this method fits to new in trading system.
This is my referral okx.com
HOW TO $1k to $12.4mil in 83 trades on BTCUSD1D BITFINEX w/ NSV4Through an analysis of 83 trades, NSV4 ('Ninja Signals V4' by BitcoinNinjas.org) has demonstrated its ability to turn a modest $1,000 investment into an impressive $12.4 million, showcasing remarkable potential.
In this particular configuration, NSV4 massively outperformed almost any other strategy including the traditional 'buy and hold' in the backtesting of this example.
This chart specifically provides insights and a deeper understanding of the effectiveness and potential of this indicator. It is one of the single best charts ever backtested for Ninja Signals. We have spent years receiving feedback from users and cultivating our script while backtesting different charts and timeframes to achieve this level of success.
The reliability and continual profit over time for 10+ years is astounding in this particular case!
This configuration is unique to this exchange, although is likely to achieve similar results on other exchanges (trading the same pair and the same time interval), perhaps needing only a few minor tweaks.
Let us dissect NSV4's performance and discover the principles that have made it a game-changer. How is it possible to turn 1k into 12.4m in 83 trades?
First of all, you can see that the first trade was in 2013, so these settings are backtested for over 10 years. This didn't happen over night.
Also, this configuration adds the profit of the previous trade to the next trade. On a bot, this would equate to using the entire balance of the account with each trade, and continually increasing the trade amount as profit accrues. Here, we are 'compounding the interest' and using 100% of the trade balance for each trade. This is referred to as "Compounding".
We always make sure that a configuration is highly profitable with compounding OFF before we turn it on. In this case, the results are magical.
When we are backtesting for the best configurations, there are a few things to keep in mind,
these principles are true for any Alerts generating indicator:
1) Has it traded recently, within the last few months? (Yes)
2) Has it been profitable each year if only traded for that year? (Yes)
3) Has it broke even or performed well in a bear market? (Yes)
As you can see, this configuration has traded recently,
It also meets all of the other criteria. Therefore, this would suffice as a tradeable config in our eyes.
In short, why is this pack so successful?
1) Compounding.
2) Long trading history (10yr+).
3) Low SL (Stop Loss) of 6 prevents losing large amounts and keeps trades tight.
4) The results without compounding are stellar to begin with, good start, good finish.
5) Years of backtesting experience from our team culminates in epic configurations.
The 1D chart equates to a longer period of time between trades than most people are used to, which results in approx 1 trade per 1-2 months.
Most people are looking for quick scalping trades but as you can see here, NSV4 has steadily outperformed almost any strategy using complex combinations of basic trading principles and trading for a long period of time.
The tortoise wins the race, in this case.
We generally like to use NSV4 between 60m and 1D, anywhere in between. Sometime obscure timeframes such as 177m or 431min seem to do well. It takes time backtesting to find the best results, as with any script.
Do you know of any other Alerts generating indicators on TradingView that have achieved this level of success? I haven't found any yet! I am anxious to try these settings and to keep testing!
-spiftheninja
PROFIT WHILE YOU SLEEP
How To Make Money With Crypto Trading BotsWe are at the beginning of a huge crypto bull run when it is possible to make millions of dollars with strong altcoins. So how is it possible to know if an altcoin strong or it is weak?
Look at the community around the altcoin you want to profit with. I prefer to count the traffic which comes to its official website first. Is the traffic rising or it is falling?
Also look at the altcoin's twitter and discord. How people react to the news. Do they write many comments or not?
But the most important thing is which funds have invested into the altcoin.
Lets look at the biggest gainers from the previous bull run. I remember Solana, THETA, Polkadot, Cosmos etc.
I prefer altcoins which were funded by Tier 1 funds. At least one or two (there are only 22 Tier 1 funds in the market now).
After that I look at the chart. I don't want to buy altcoins that are already overpriced.
One of the best examples of altcoins I have found for accumulation for the future bull run is APTos. It is not very expensive, have the great community, valuable traffic to its official website and so on.
We will need to find 10 - 15 altcoins like APTos to make our millions of dollars. And I will help you to find the most profitable ones.
The best way to accumulate an altcoin I have found is starting a position with a grid trading bot. It is the most simple yet very powerful tool you can use to get as much altcoins as possible before it is not too late.
Why I prefer to use grid trading bots? Because these bots can accumulate literally "free" altcoins for me. Here is how I use grid trading bots.
First I need to define the range for trading and second - how many orders will trading bot have.
And with APTos the low price for the trading is $ 3 and the high one is $ 25.
The number of open orders are 100. And the profit is 0.72% ~ 7.16% per grid.
So what is the goal? The trading bot should return to me all the money I invested and also it should give me a certain number of APT coins before I close it.
After that I can start a new trading bot position with the USD the bot have made for me and keep APT coins for the bull market to sell at the best price.
Do you like the strategy I use to accumulate strong alcoins for the crypto bull run?
Trading AutomationI am just going to put it out there, as you know I have said time and time again in my streams. Personally, the whole automated trading concept is not for me. However, that’s not to say there are not some good strategies, tools and instruments that could work for some people.
Risk tolerance, time frames, bull vs bear markets all play a role in trading. This is emphasised when the trading is automated.
A few weeks back, myself and @Paul_Varcoe starting streaming about shorter timeframes and automation. We said we were working on something in the background – mostly to do with trading via prop firms. Here’s on of my streams on that topic. So, the next part was automation.
Here's one of these streams:
www.tradingview.com
I have been lurking around a couple of services, tools and platforms – one of these is a company/product called 3Commas. A few things I found interesting.
One of which is that it supports multiple cryptocurrency exchanges, allowing users to trade on various platforms using a single interface. For the Tradingview community this is a very useful option. You can even go as far as connecting your bot to one or more TradingView indicators of your choice, and the bot will automatically receive alerts and open trades accordingly.
My reluctance of automation has always been, if a bot can do it – we won’t need Doctors or Police officers as they will all want to be professional traders. I have also spent some time in the money management sector and know the investment and effort some very large operators have put into the automation game. What I liked about this 3commas platform, is that it opens the door for retail to play in this world.
Having access to trading bots that can execute trades automatically based on predefined strategies is one factor, it still requires users to set up custom trading strategies or choose from a marketplace of existing strategies developed by other users. So, what this means is if you have a specific trading strategy you can link directly from Tradingview and just allow it to open trades.
I have taken this image as an example from their site, it’s easier than trying to write it myself.
There also seems to be a lot of open-source code, literature and information readily available online. All beneficial factors if you’re planning on going down the automation route.
Myself and Paul have been more conventional traders, operating in well established markets. But of course we have had our dabbles in alt coins, Bitcoin and so on. It seems to be the way the world is shifting.
I have been using webhooks on Tradingview recently to trade Aussie dollar and Euro on smaller timeframes just sending an alert to one of my channels – but the ability to take out the execution stage is a new one on me. If you’re a crypto fanatic I can say this is worth a look for sure!
When looking at this automation, I found another editors pick here on @TradingView
So, although I know very little about the strategy or the individual trader @Bjorgum who wrote the article, it’s a great example of the type of power mixing things like 3Commas and Tradingview can yield. Throughout 2023 I have shown and shared several articles on Prop firm trading, shorter timeframes and even how to use Chat GPT to write Tradingview indicators.
Link to one of them:
www.tradingview.com
My next step is to use chat GPT to program an indicator I can fully automate (market condition depending) to link to 3Commas using TV as the glue.
Here’s an example of what I mean:
I literally asked ChatGPT this question “can you write a pinescript version 4 code to enter trades based on pivot point breakouts taking profits at S2 and R2 with stop losses in the other direction at R1 and S1.”
I got a reply;
Before you ask - The code will probably get rejected to put out as an indicator as Pinescript will say “Pivot point indicators are readily available” but copy and paste my question above and you should get a similar result. Of course, this is only an example. Feel free to play around with your own strategies and concepts.
The idea then is to take this through the papertesting and backtesting to refine a strategy that you feel comfortable with in terms of plugging into a bot and connecting to your broker.
The whole concept for me is mind blowing, the fact that anyone can have a Tradingview account, use ChatGPT to build and indicator and execute a trade via your broker on a platform like 3Commas.
Over the next couple of weeks I intend on digging a little deeper with these and either start with using ChatGPT to link a strategy via Tradingview into 3Commas or take a strategy or indicator off the shelf and test drive it in a stream or sequence of streams.
Maybe give me some ideas, if you like? what timeframes? What instruments etc...
This will be part of the educational, how to make trading automation a real thing series.
Anyways! Enjoy the Holidays - Merry Christmas and a Happy New Year to you all!
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
How much should the order amount be in quantitative trading ?First, you need to determine how your strategy calculates the order quantity, which can be based on:
1. Quantity of shares
2. Amount of money
3. Percentage
This article elaborates on the points of using "Fixed Order Amount" .
The amount of margin required for a trade depends on your risk tolerance.
Using "BOT | Trend" as an example,
In the backtested performance, a fixed "initial capital leveraged by 1x" is used as the order amount for each trade,
with a maximum drawdown of 25%, meaning the assets decrease by 25% from the "peak performance point" to the subsequent lowest point (1000 ➡️ 750).
Therefore, there are two key points to note here:
* The amount of margin required should consider “How much risk you can bear? ”
Assuming you currently have 1000 to operate "BOT | Trend," and you can tolerate a maximum loss of 500 (-50%), then the total amount of each trade (margin * leverage) can be set as 2000, and so on.
Example: Now you have 2000, and you can tolerate a maximum loss of 400 (-20%), then the total amount of each trade (margin * leverage) is 1600.
Practice: Now you have 5000, and you can tolerate a maximum loss of 2000 (-40%), then the total amount of each trade (margin * leverage) is ______ (Hint: What is 25% of 2000?).
* Timing to start running quantitative trading.
Running a "trend-following" quantitative trading strategy should not start during a continuous profitable period but rather when the strategy incurs losses (relative low point of equity). This is because for trend strategies, sideways market conditions can cause the strategy to go long at highs and short at lows, resulting in a depletion of funds during this period. Starting during a continuous profitable period is likely to encounter fund depletion right after entering because markets alternate between trending and ranging phases.
Answer: 8000
1. Bots for everybodyHello there!
My name is Vlad I want to share my opinion regarding Pine bots.
First of all I would like to inform - I do not believe in "Universal the best bot for every case". A lot of people agree with me, and here are few points of it:
1. Cryptocurrency market - not a robot, it is filled by real people. In this case you cannot predict their behaviour, but if you think you can - you shall loose your money faster than anyone else.
Please remember - no one could predict crypto price movement more than with 60% successful trade deals. If You see somebody, who does better - check his activities once again before believe him ,probably this person tries to two-times you.
2. There is no bot can trade successfully only. There will be a lot of days/months every bot will lose you money.
3. Do not believe in any promise like "This bot is the best, You have to buy only and wait for your money! Just buy this program and enjoy your first million!"
If you see that - just run out of it as fast as you can! Your money is at risk and you will pay twice - first for bot, second for trading.
After all this notices it seems we can start.
In this topic we will discuss what trading bot is and how and why it works.
Every trading bot is nothing but written script with its behaviour. It fully depends on inputting data and outputting data(strange, isn't it?). but it is true and constant thing you should remember. No matter where this bot has been run - on your computer with a strong internet or on cloud(true for not-arbitrage only). Every bot takes information, process the data and return some value( to buy , for example). There is no universal bot which can be so adaptive to market to be able change its script fast and successfully and trade profitably all the time. I will describe the ML bots later, but notice - it will be controversial topic 100%(HOLLYWAR!!!).
First thing first.
In this topic you will not find any information about arbitrage-bots.
Lets have a look at two kinds of bots( in my opinion):
1. For short term trading
2. For long term trading
Let's take a closer look at the first one. In this case we are trading inside one day(max one week). This case bots generally always use stop limits, always close position after the conditions are met. It does not keep a lot of open orders and positions and does not need huge capital to start with.
Example -
A bot gets:
Input information - supertrend indicator(0 if red, 1 if green)
Output - make an limit order for buy short(if supertrend red) and reverse to long(green).
Inside the script could be a lot of different conditions like if, while, counts and values that makes the script choose when it should open the order and when should close. But in all the cases - it looks like that. Nothing else. The complexity of the script determines the rules for entering an order or, and is a reflection of the finished idea (trading strategy). The bot "in vacuum" does nothing but reflects the idea of the author of strategy.
How can we see the success bot depends the most on strategy. Of course it is important to have the great cod inside bot, but without good strategy - it costs nothing.
In the next post we will take closer look at long term bot trading and figure out what trading automatization is.
Thanks for attention,
Vlad.
AUTOMATED TRADING BOTS: How to profit with Tezos.Tezos is one of the best token for our robot.
Our robot mainly uses the DCA (dollar cost averaging) trading method.
If the price drops, instead of the Stop loss order, we have a Buy limit order.
This will also cause the Take profit value to drop and approach the current price.
If the price falls and falls, the robot buys and buys. This keeps the Take Profit lower and lower.
After that, the price of the token rises and our trade ends with Take profit, which is not far from us thanks to constant and precisely predefined purchases.
The XTZ / USDT currency pair is suitable for our demonstration. You see very high volatility.
It is through volatility that our robot can be profitable. If the price still went in one direction without frequent fluctuations and without "waves", the robot would earn very little.
We need great volatility for big profits.
Volatility in the TradingView platform will be helped by the Historical Volatility indicator.
This indicator often (on this time frame) intersects the value of 50.00, which is rarely affected for low-volatile currency pairs. For example, you would look for Bitcoin very bad around 50.00 on this time frame.
The key to our profitable trading bot is volatility! At a time of market colapse, when almost everyone is going through and positions in the Futures markets are being liquidated on a large scale, we are EXTREMLY profitable thanks to our robots.
Of course, it is very important that you know how big the position is and how often, or at what intervals it is necessary for the robot to buy more. In no case is every setting of the robot profitable, on the contrary, setting up a profitable robot is not easy.
You will learn how to set up a robot to be constantly profitable in our Academy.
PS: One of the best things about trading with robots is that you remove all emotions and decisions.
We wish you a nice day. UCT team.
EURUSD LONG - TradingView to MT4 BotSide: Long
Risk: 10%
SL: 60 pips
Noice start this week!
SEND SIGNALS FROM TRADINGVIEW TO MT4
www.tradingviewtomt4.com
POSSIBLE COMMANDS
Open Orders
buy_SYMBOL_SLinPoints_Risk%
sell_SYMBOL_SLinPoints_Risk%
buy_SYMBOL_SLinPrice_Risk%
(can be used for dynamic values)
sell_SYMBOL_SLinPrice_Risk%
(can be used for dynamic values)
buy_EURUSDi_150_0.05 = opens a buy order on EURUSD with an SL 150 points away with 5% risk if SL triggers
sell_EURUSDi_1.10200_0.03 = opens a sell order on EURUSD with an SL at 1.10200 with 3% risk if SL triggers
Close Orders
close_SYMBOL_%toClose_none
close_SYMBOL_%toClose_break
close_SYMBOL_%toClose_(price)
(can be used for dynamic values)
close_EURUSD_50_none = closes 50% of an open order and SL stays the same
close_EURUSD_0_break = closes 0% of an open order and SL moves to breakeven if trade is in profit
close_EURUSD_25_1.10200 = closes 25% of an open order and SL moves to price that is stated
Update Orders
update_SYMBOL_SL1_SL2
(can be used for dynamic values)
The logic of this command differs slightly and serves as a trailing stop between two dynamic values if your indicator provides that.
For example, if current trade is a BUY, after sending this command, it will move Stop Loss to SL1, if it’s a SELL, it will move Stop Loss to SL2.
update_EURUSDcn_1.10300_1.10100 = If we are in a BUY, Stop Loss would be updated to 1.10300. If we were in a SELL, Stop Loss would be updated to 1.10100.
If you used dynamic values in trading view, the command would essentially look like this: update_EURUSDcn_{{plot_3}}_{{plot_4}}
SEND ALERTS FROM TRADINGVIEW TO MT4
www.tradingviewtomt4.com
WHY RISK MANAGEMENT?
Trading can be very lucrative, we all know that, hence; why we became traders in the first place. Whether you found an awesome indicator script on TradingView, an Expert Advisor on MT4, or whatever other strategy that got you excited about trading in the first place; you will lose no matter how perfect a strategy works.
I started trading with a strategy that had over 60% win rate and still lost half of my account. You may think I’m an idiot. I just didn’t understand it’s more important to know how much you can lose rather than how much you can make. So from now on, forget about gains. If your strategy’s win rate is above 50%, focusing on how much you can lose will always be more important. The gains will come on their own after that.
Risk management is simple and only involves basic math. So let’s start with that: To understand the calculator in it’s entirety, you must know how to calculate profit from a winning position. We’ll use a FOREX example.
Let’s say bought 1.00 Lot of EURUSD at 1.00100, a couple hours or minutes later, you closed it at 1.00200. First you subtract Close Price from Entry Price to get the amount of points you gained:
1.00200 - 1.00100 = 0.00100
100 points gain or 10 pips
To calculate dollar profit you multiply by Lot Size and multiply again by 100,000.
0.00100 * 1.00 * 100,000 = $100
Gain * Lot Size * 100,000 = $
Great, so you made $100! If your balance was $1,000, you just made 10% return, amazing! But.. what if the trade had gone wrong? How do you even calculate how much you might lose? Well first, you have to choose a Stop Loss, this varies depending on your strategy. One of my 30m strategies has a Stop Loss between 150-200 points, while a 4hr strategy might have a Stop Loss between 600-650 points.
Let’s say you’ve made up your mind and you’re going to choose a Stop Loss at 150 points, which means if price is at 1.00150, your stop loss would end up at 1.00000 on a Buy Trade. The key thing first is deciding what % of your balance you’re willing to risk. If I have $1000, you might be okay with losing 5%, which is $50. Now you use the formula above:
Gain * Lot Size * 100,000 = $
In this case, we would substitute Gain with Stop Loss value instead.
Stop Loss * Lot Size * 100,000 = $
150 * Lot Size * 100,000 = $50
As you can see, we have to solve for Lot Size because we don’t know exactly how much to trade yet if our trade hits our Stop Loss, we’ll only lose $50. I won’t go into the algebra, so here is the final formula:
Lot Size = 1 / (SL in Points / (Capital x Risk%))
Lot Size = 1 / (150 / ($1000 * 5%)) = 0.33
Trading 0.33 lot size with a hard Stop Loss of 150, we’ll only lose $50 or 5% of our balance.
That’s basic risk management, and it’ll save you headaches from losing money on your trades. Don’t worry about doing the math yourself though, use our bot that auto-calculates your position based on your risk. Happy trading!
SEND TRADES FROM TRADINGVIEW TO MT4
www.tradingviewtomt4.com
GBPUSD SHORT - TradingView to MT4 BotAlmost got stopped out on this one lol
Side: Short
Risk: 10%
SL: 70 pips
SEND SIGNALS FROM TRADINGVIEW TO MT4
www.tradingviewtomt4.com
POSSIBLE COMMANDS
Open Orders
buy_SYMBOL_SLinPoints_Risk%
sell_SYMBOL_SLinPoints_Risk%
buy_SYMBOL_SLinPrice_Risk%
(can be used for dynamic values)
sell_SYMBOL_SLinPrice_Risk%
(can be used for dynamic values)
buy_EURUSDi_150_0.05 = opens a buy order on EURUSD with an SL 150 points away with 5% risk if SL triggers
sell_EURUSDi_1.10200_0.03 = opens a sell order on EURUSD with an SL at 1.10200 with 3% risk if SL triggers
Close Orders
close_SYMBOL_%toClose_none
close_SYMBOL_%toClose_break
close_SYMBOL_%toClose_(price)
(can be used for dynamic values)
close_EURUSD_50_none = closes 50% of an open order and SL stays the same
close_EURUSD_0_break = closes 0% of an open order and SL moves to breakeven if trade is in profit
close_EURUSD_25_1.10200 = closes 25% of an open order and SL moves to price that is stated
Update Orders
update_SYMBOL_SL1_SL2
(can be used for dynamic values)
The logic of this command differs slightly and serves as a trailing stop between two dynamic values if your indicator provides that.
For example, if current trade is a BUY, after sending this command, it will move Stop Loss to SL1, if it’s a SELL, it will move Stop Loss to SL2.
update_EURUSDcn_1.10300_1.10100 = If we are in a BUY, Stop Loss would be updated to 1.10300. If we were in a SELL, Stop Loss would be updated to 1.10100.
If you used dynamic values in trading view, the command would essentially look like this: update_EURUSDcn_{{plot_3}}_{{plot_4}}
SEND ALERTS FROM TRADINGVIEW TO MT4
www.tradingviewtomt4.com
WHY RISK MANAGEMENT?
Trading can be very lucrative, we all know that, hence; why we became traders in the first place. Whether you found an awesome indicator script on TradingView, an Expert Advisor on MT4, or whatever other strategy that got you excited about trading in the first place; you will lose no matter how perfect a strategy works.
I started trading with a strategy that had over 60% win rate and still lost half of my account. You may think I’m an idiot. I just didn’t understand it’s more important to know how much you can lose rather than how much you can make. So from now on, forget about gains. If your strategy’s win rate is above 50%, focusing on how much you can lose will always be more important. The gains will come on their own after that.
Risk management is simple and only involves basic math. So let’s start with that: To understand the calculator in it’s entirety, you must know how to calculate profit from a winning position. We’ll use a FOREX example.
Let’s say bought 1.00 Lot of EURUSD at 1.00100, a couple hours or minutes later, you closed it at 1.00200. First you subtract Close Price from Entry Price to get the amount of points you gained:
1.00200 - 1.00100 = 0.00100
100 points gain or 10 pips
To calculate dollar profit you multiply by Lot Size and multiply again by 100,000.
0.00100 * 1.00 * 100,000 = $100
Gain * Lot Size * 100,000 = $
Great, so you made $100! If your balance was $1,000, you just made 10% return, amazing! But.. what if the trade had gone wrong? How do you even calculate how much you might lose? Well first, you have to choose a Stop Loss, this varies depending on your strategy. One of my 30m strategies has a Stop Loss between 150-200 points, while a 4hr strategy might have a Stop Loss between 600-650 points.
Let’s say you’ve made up your mind and you’re going to choose a Stop Loss at 150 points, which means if price is at 1.00150, your stop loss would end up at 1.00000 on a Buy Trade. The key thing first is deciding what % of your balance you’re willing to risk. If I have $1000, you might be okay with losing 5%, which is $50. Now you use the formula above:
Gain * Lot Size * 100,000 = $
In this case, we would substitute Gain with Stop Loss value instead.
Stop Loss * Lot Size * 100,000 = $
150 * Lot Size * 100,000 = $50
As you can see, we have to solve for Lot Size because we don’t know exactly how much to trade yet if our trade hits our Stop Loss, we’ll only lose $50. I won’t go into the algebra, so here is the final formula:
Lot Size = 1 / (SL in Points / (Capital x Risk%))
Lot Size = 1 / (150 / ($1000 * 5%)) = 0.33
Trading 0.33 lot size with a hard Stop Loss of 150, we’ll only lose $50 or 5% of our balance.
That’s basic risk management, and it’ll save you headaches from losing money on your trades. Don’t worry about doing the math yourself though, use our bot that auto-calculates your position based on your risk. Happy trading!
SEND TRADES FROM TRADINGVIEW TO MT4
www.tradingviewtomt4.com
EURUSD SHORT - TradingView to MT4 BotSide: Short
Risk: 5%
SL: 20 pips
SEND SIGNALS FROM TRADINGVIEW TO MT4
www.tradingviewtomt4.com
POSSIBLE COMMANDS
Open Orders
buy_SYMBOL_SLinPoints_Risk%
sell_SYMBOL_SLinPoints_Risk%
buy_SYMBOL_SLinPrice_Risk%
(can be used for dynamic values)
sell_SYMBOL_SLinPrice_Risk%
(can be used for dynamic values)
buy_EURUSDi_150_0.05 = opens a buy order on EURUSD with an SL 150 points away with 5% risk if SL triggers
sell_EURUSDi_1.10200_0.03 = opens a sell order on EURUSD with an SL at 1.10200 with 3% risk if SL triggers
Close Orders
close_SYMBOL_%toClose_none
close_SYMBOL_%toClose_break
close_SYMBOL_%toClose_(price)
(can be used for dynamic values)
close_EURUSD_50_none = closes 50% of an open order and SL stays the same
close_EURUSD_0_break = closes 0% of an open order and SL moves to breakeven if trade is in profit
close_EURUSD_25_1.10200 = closes 25% of an open order and SL moves to price that is stated
Update Orders
update_SYMBOL_SL1_SL2
(can be used for dynamic values)
The logic of this command differs slightly and serves as a trailing stop between two dynamic values if your indicator provides that.
For example, if current trade is a BUY, after sending this command, it will move Stop Loss to SL1, if it’s a SELL, it will move Stop Loss to SL2.
update_EURUSDcn_1.10300_1.10100 = If we are in a BUY, Stop Loss would be updated to 1.10300. If we were in a SELL, Stop Loss would be updated to 1.10100.
If you used dynamic values in trading view, the command would essentially look like this: update_EURUSDcn_{{plot_3}}_{{plot_4}}
SEND ALERTS FROM TRADINGVIEW TO MT4
www.tradingviewtomt4.com
WHY RISK MANAGEMENT?
Trading can be very lucrative, we all know that, hence; why we became traders in the first place. Whether you found an awesome indicator script on TradingView, an Expert Advisor on MT4, or whatever other strategy that got you excited about trading in the first place; you will lose no matter how perfect a strategy works.
I started trading with a strategy that had over 60% win rate and still lost half of my account. You may think I’m an idiot. I just didn’t understand it’s more important to know how much you can lose rather than how much you can make. So from now on, forget about gains. If your strategy’s win rate is above 50%, focusing on how much you can lose will always be more important. The gains will come on their own after that.
Risk management is simple and only involves basic math. So let’s start with that: To understand the calculator in it’s entirety, you must know how to calculate profit from a winning position. We’ll use a FOREX example.
Let’s say bought 1.00 Lot of EURUSD at 1.00100, a couple hours or minutes later, you closed it at 1.00200. First you subtract Close Price from Entry Price to get the amount of points you gained:
1.00200 - 1.00100 = 0.00100
100 points gain or 10 pips
To calculate dollar profit you multiply by Lot Size and multiply again by 100,000.
0.00100 * 1.00 * 100,000 = $100
Gain * Lot Size * 100,000 = $
Great, so you made $100! If your balance was $1,000, you just made 10% return, amazing! But.. what if the trade had gone wrong? How do you even calculate how much you might lose? Well first, you have to choose a Stop Loss, this varies depending on your strategy. One of my 30m strategies has a Stop Loss between 150-200 points, while a 4hr strategy might have a Stop Loss between 600-650 points.
Let’s say you’ve made up your mind and you’re going to choose a Stop Loss at 150 points, which means if price is at 1.00150, your stop loss would end up at 1.00000 on a Buy Trade. The key thing first is deciding what % of your balance you’re willing to risk. If I have $1000, you might be okay with losing 5%, which is $50. Now you use the formula above:
Gain * Lot Size * 100,000 = $
In this case, we would substitute Gain with Stop Loss value instead.
Stop Loss * Lot Size * 100,000 = $
150 * Lot Size * 100,000 = $50
As you can see, we have to solve for Lot Size because we don’t know exactly how much to trade yet if our trade hits our Stop Loss, we’ll only lose $50. I won’t go into the algebra, so here is the final formula:
Lot Size = 1 / (SL in Points / (Capital x Risk%))
Lot Size = 1 / (150 / ($1000 * 5%)) = 0.33
Trading 0.33 lot size with a hard Stop Loss of 150, we’ll only lose $50 or 5% of our balance.
That’s basic risk management, and it’ll save you headaches from losing money on your trades. Don’t worry about doing the math yourself though, use our bot that auto-calculates your position based on your risk. Happy trading!
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HOW TO GRID TRADE: The Good, The Bad and The Ugly (Tutorial #5)HOW TO GRID TRADE:
The Good, The Bad and The Ugly (Tutorial #5)
DID YOU KNOW?
The cryptocurrencies you’re holding right now could be generating passive income. Even if you have small holdings or limited capital THIS can become very profitable with a little known strategy called GRID TRADING.
EXAMPLE: 11-DAY GRID TRADE EARNS 19.27% PROFIT
EASY TO LEARN, LOW RISK & HIGH RETURNS? WHAT'S THE CATCH?
If you have not read my previous tutorials on grid trading , I’ll summarize the concept quickly. Grid trading is a type of trading, typically managed by a BOT which sounds a lot more complicated than it is.
In a nutshell, you select a range, you divide your range into equally spaced buy/sell grids (like trip wires, sorta) . And as price zigzags up and down, your “trip wires” trigger buys and sells - catching profits for you incrementally all along the way! If you are able to start your grid as the market ranges sideways (which is 70% of the time) or when it is in a gradual upward ranging trend (15% of the time) then you are going to make money most of the time. That leaves about 15% of the time when the market is ranging downwards (and even then, many times grid trading can still produce a profit) .
Grid trading requires far less skill and less management than most other types of trading -PLUS- it has far less risk. Not to mention, most grid traders make better returns on their money with grid trading than they do with any other trading strategy.
Can you lose money grid trading? YES, but with a little knowledge, losing money is hard!
OK IT'S EASY PEASY, BUT HOW DO I DO THIS?
You'll need a gird bot automation platform to manage this, but once you've got that... there are only a few parameters you must setup to get started with your grid bot trades. And if you start with a small investment, the learning process is rather fun. Once you get the hang of it, you can increase your investment. The sky is the limit.
1) GET YOUR GRID TRADING BOT (recommendations below)
2) PICK THE CRYPTOCURRENCY PAIR which you plan to trade.
3) SELECT YOUR RANGE. It's called your “trading channel” - and while this can vary depending on the crypto asset you select, it can also vary based on your trend bias and available capital. Just as a thumbnail guide, you might trade a top 10 cryptocurrency pair within a 4% to 8% trading channel, whereas a low cap coin pair might merit a 1% to 50%+ trading channel.
4) DETERMINE A GRID SPACING or GRID COUNT which basically divides your range into a series of buy and sell grid lines. As the price of an asset moves up or down within your range, the bot will execute trades. Each time the price moves up over a grid line the bot will execute a sell order. Each time it moves down over a grid line it executes a buy order. As long as the price stays within the upper and lower price limits that you have pre-set, you will profit from the zigzag of the market.
5) A STOP LOSS is optional and may not be needed at all, but it is a parameter you must think about and set, if you feel you need it. If you are trading a coin that you don’t mind holding, a stoploss is not needed. Advanced strategies can reduce almost all possibility of loss!
NOTE: Trying to grid trading manually is near impossible. It is highly recommended you use a trading bot to carry out your grid trading strategy.
NO BOTS ABOUT IT...
Grid trading bots automate the process and maximize your potential profits. Your bot will automatically place buy and sell orders at pre-set price points you map out upfront. As you go along, your bot will replace grid line open orders as each previous grid level (line) is executed. You simply need to set your upper and lower price limits (your range) for your trading channel, decide how many grids you want, and how much of the asset you’ll invest in. Once your parameters are entered, your bot can be started and you can sit back and watch profits add up.
For example, if you chose to trade BTC/USD, then you'll start by buying BTC and you'll simultaneously place limit sell orders along your grid. This is easy because your bot will automate the entire strategy.
You can of course get very good at this type trading and make an impressive income however, at the most basic level, all you need to know to start Grid Trading today, is what you’ve just read, perhaps a few more tips from my other grid trading tutorials and if you're smart, you'll try grid trading indicators.
Additional resources are found below.
HOW DO I LEARN MORE?
1) Review my related IDEAS and TUTORIALS (linked below)
2) Explore GRID INDICATORS (linked Below)
PLEASE HIT THE LIKE BUTTON (and follow me... just look below the chart at top... yes, up there where "Kilroy" is watching!)
As always, I appreciate your support. Please share with others.
ENJOY!
Dan Hollings
Master Crypto Grid Trader
Please Explore My Other Indicators, Scripts, Grids and Educational Ideas.
@ DanHollings on Tradingview.
HOW-TO GRID TRADE: How Grid Automation Works (Tutorial #2)HOW-TO GRID TRADE (Tutorial #2):
How a Crypto Trading Bot Automates Your Trades +PLUS+ Quick Set-Up Tips
OK - TUTORIAL #2 - LET'S UNDERSTAND WHAT WE'RE DOING
Automation via a trading bot will help you execute your grid trading strategy. (The bot I recommend is linked below and connects to your choice of 25+ various exchanges. My instructions are specifically for "my recommended grid bot" though the concepts should work anywhere.)
CHART NOTE: If chart above does not display illustrations properly, please expand window or adjust scaling so you have THREE clear and separate examples. Or, scroll down for a screenshot image of these illustrations.
Did you miss Tutorial #1? ( Go Here )
SET-UP IN MINUTES
Your grid bot can be set-up with your range, grid spacing and capital investment amount within minutes. Your grid trading bot will initiate a start-up BUY, layout your future orders in a grid and continue placing and filling orders as price fluctuates, so you can benefit from any sideways and ranging market.
You can grab a coffee, a beer or some spring water, sit back and watch (or better yet, spend time with your family!) In the meanwhile, cha-ching, cha-ching… one zig, one zag at a time, your odds of making money are good. Of course this assumes you’ve done your homework, set things up properly and picked an optimal time. Your only risk is a sudden price plummet (and yes this happens from time to time) but with a stoploss or counter strategy in place, you’re pretty much in hands-free mode and can check your progress once or twice a day.
Next, let's explore in details of how the Crypto Grid Trading Bot actually works. In our random example, I'll use BTC/USD pair and the following bot settings:
ILLUSTRATION SETTINGS:
Price range: $16,000 - $24000
Quantity of grids: 9
Amount per grid: 1 BTC
NOTE: Please focus on the concept, not the random range or investment levels in this illustration. This example is not meant to be a real signal or set-up! Just grasp the concept.
1. GRID BOT CREATED
Once your grid bot is created, it will distribute buy and sell orders based on your investment settings, range and equal grid spacing (or grid profit targets) . The BUY orders will be placed below the current market price, while the SELL orders will be placed above the current market price. If needed, bot will automatically buy or sell currency to create grid. You will be prompted to confirm every step in the process. It’s fast, easy and fun.
Remember, in this example we are only placing LONG buy orders and selling when price moves up one grid (there is NO SHORTING involved).
Also remember, you can NOT edit (change settings) on a running grid bot. But you can stop your bot thus opening up the option to create a new one.
STOPPING YOUR GRID BOT
If for any reason you want to stop your bot (perhaps you messed-up, perhaps you change plans, perhaps the market starts looking negative, perhaps you want to take your profits, perhaps you want to move grid to a new range)... you can cancel your bot at anytime. I’ll cover this in greater detail in a later session of this tutorial series, but for now just be aware that upon bot cancellation - when you stop your bot - you may have open positions remaining that must be dealt with manually on your exchange or trading platform.
CANCELLATION RULE: Every time you stop a bot, check your exchange for open positions and either sell, set limit order(s) or perhaps hold the crypto your bot has bought. The bot will automatically remove standing buy and and sell orders (you can double check your exchange to confirm this if you like).
2. PRICE MOVES UP
You’ve started (in our example) at $20,000. When the price moves up to $21000 the first sell order is executed. The bot will place a new buy order one grid below at $20,000.
3. PRICE MOVES DOWN
When the price moves down to $19,000 your bot will execute BUY orders at both grid lines ($20,000 followed by $19,000) . During that price drop , your bot will place new SELL orders at $21,000 and $20,000) after each executed buy order. And so it goes… your bot buys, your bot sells and grid lines are replaced with new open orders as the next grid line (up or down) is hit. Simple as that.
4. YOUR RESULTS
This trading method will generate profit as the market ranges up and down. It works as long as the market movement stays in your predefined range. The “recommended grid bot” (see footer below) will automate this strategy for you and provide accurate reporting on your profit results.
12 QUICK TIPS FOR STARTING
In future sessions of this tutorial series, I’ll cover important areas such as: how to find sideways markets, slowly trending ranges, and optimal grid bot starting points. I’ll even cover indicators that can help you with your grid trading strategy -AND- our Discord community specifically dedicated to future “Grid Masters."
For now, please follow these basic steps:
1) Get your grid bot account.
2) Connect your bot to your preferred exchange.
3) Start with a cryptocurrency you trust (BTC or ETH or a top 10 coin) . Something you’d be ok holding (HODL) if worse came to worse.
4) Wait for a market where you expect or anticipate sideways or slowly upward ranging price action.
5) Keep your total grid range (lowest grid to highest grid) within 4% to 8%.
6) Select a grid count that renders your grid spacing (distance between each grid line) to a space comparable to typical zigzags you see in recent price action. Typically a .5% to .6% space between gridlines (as measured on your Tradingview chart) is a good place to start.
7) After your settings are enter in the bot, do click the backtest button. Double check setting, make tweaks, backtest again until you are happy.
8) Invest MINIMALLY on your first few bots (say $100 or something you can afford to lose) . Think of your first grid bot as a “learning experience.”
9) Set a stoploss under your grid (there is a setting within the bot for this) . If you don’t mind holding the coin if prices temporarily drop , then you can forego a stoploss.
10) Don’t dream of riches, instead anticipate all goes well and you get a rather healthy ROI (better than a bank and perhaps better than your trading results/ROI using other non-grid strategies).
11) If your first bot does not go well (worry not, remember the first time you tried to ride a bicycle?) . Review what happened and try again. 3%, 5%, 8% gains might be just around the corner.
12) Give your bot time to “do its magic” (perhaps 3 days, a week or longer) ... as long as prices are within or very near your range, you can leave your grid up and running.
Why not? You’re making money!
LIKE THIS (Click LIKE Under Chart)
SHARE WITH FRIENDS - THANK YOU!
HOW DO I LEARN MORE?
1) Review my related IDEAS and TUTORIALS (linked below)
2) Explore my GRID INDICATORS (linked Below)
As always, I appreciate your support. Please share with others.
ENJOY!
Dan Hollings
Master Crypto Grid Trader
Please Explore My Other Indicators, Scripts, Grids and Educational Ideas.
@ DanHollings on Tradingview.
HOW-TO GRID TRADE (Tutorial #1) Trade While You SleepHOW-TO GRID TRADE:
HIGH PROFITS - LOW RISKS - TONS OF FUN.
Trade While You Sleep
Let’s be honest, trading is risky, especially trading crypto. We all know it’s just matter of figuring out if market prices are going up or going down, but isn’t it funny how the market seems determined to go in the exact opposite way you pick? Especially when you have money on the line!
It’s great that markets trend 30% of the time, we attempt to catch the wave (up or down) and cash in when we’ve called it right. But the often overlooked reality is, markets go sideways, they consolidate, they squeeze, they get stuck in ranges over 70% of the time. Just when you thought you were catching a trend (to the moon!) , now you’re stuck waiting for the market to do something. It zigs a little, it zags a little, smaller moves, up, down, but nothing too exciting, right?
If we only could get paid for watching charts wiggle in a range, not having to predict whether things are going up or down… THAT’S what would make you smile . Agreed? Especially if you could automate this “wiggle for profits” idea and reduce your risks to a bare minimum. THAT’S what this article is about. Grid Trading, or how to wiggle your way to high profits without losing your shirt.
Let’s learn and have some fun!
GRID TRADING STRATEGY
Trading bitcoin and other cryptocurrencies with an automated solution has become a very popular plan-of-action because it guarantees 24/7 trading activity. It reduces our addiction to chart watching and lets us eat, sleep and be merry. It allows you to exploit trading opportunities around the clock, manage your risks without emotions and follow a predefined trading pattern that often beats the ROI (Return on Investment) you're getting from other hands-on trading strategies.
While all this is true, it was another factor that brought me to Grid Trading initially. It was the fact that even though I loved to get in the trenches and trade chart patterns, indicator signals and often unsubstantiated “hunches,” I found that the capital I was NOT actively trading was just sitting there, doing nothing. The bulk of my capital was sitting in USD, or USDT or BTC . Because I risk manage and rarely enter a trade with more than 5% of my total available money (per trade) , more often than not… 50% to 80% of my investment capital was NOT realizing any return at all.
THE LIGHT GOES ON
One day, after testing a little known, little used strategy of trading within a pre-established GRID range where every tick-up and every tick-down had the probability of making me money, the light switch within my head went on. Why not take my some of my “reserve” capital, place in a Grid, automate the process, and let it earn a little “side-money” while I continued my regular trading activities?
As this “side-money” project took off. I started noticing that it would many times make more of a ROI than my regular trading. I’d look at my Grid results and often see 2%, 3%, 8% over a 2 or 3 day period - these were serious returns, with far less the risk. Annualized I was looking at gains of 300%, 500% even 1000%+ if I just focused on Grids. uh, HELLO!
Truth be told, Grid Trading is not a panacea of all wins and no losses. It’s also essential to know that a grid trading strategy does not guarantee a stable income in all market conditions. If you want to successfully utilize a grid crypto trading strategy (like I can teach you) , you must understand the fundamentals of trading, the current market phase, how to find grid trade opportunities, how to set-up grids for maximum gains and how to manage the risks.
HERE’S THE GOOD NEWS
Grid Trading is no harder than what you’re already doing and in fact, the learning curve is far less challenging. Most people can have their first grid up and running within a day or two. You can do grid trading while you continue your other trading pursuits (as it requires little time or effort). If done right, your odds of making money are much better than almost any other trading strategy you explore.
LET’S START WITH A CRAZY LOOKING TRADINGVIEW CHART
GRID BOT EXAMPLE
THE PATH TO PROFIT IS NOT A STRAIGHT ONE...
You’re looking at (in the chart illustration) is a 23 HOUR period (15 min. chart) with a grid range of 5.48% (bottom to top) . Had you been lucky enough to have bought at the bottom and sold at the top (just a regular trade) , you have pocketed roughly 5.48% on a single trade. However, with an automated GRID trade strategy, every zig down BUYS and every zag up SELLS all in incremental and equal portions of your capital. So the more zigs and zags you have, the better! Just as an example, you can turn a 5% gain into 8% if the path zigs and zags along its way.
Keep in mind that in this example, we are only trading LONG, yet we profit from the up and down price action as prices cross each grid line triggering a buy or a sell. Once any transaction is complete, the automation resets a new grid line to replace the previous one that was hit. And so it goes, cha-ching, cha-ching, cha-ching!
UP? DOWN? WHO CARES!
Grid trading is a type of strategy generating earnings from the market movements in a specific price range. It loses its power in a strong trading market (for example when pump or dump happens. The grid trading technique explores to its benefit natural price volatility within a defined range. It does this by opening buy and sell orders regularly at fixed intervals above and below a market price.
The advantage of grid trading is that it requires little forecasting of market direction (though you are best to seek out sideways or upward ranging market periods). In addition, it is easy to automate this strategy and run it continuously. The biggest drawback is if there’s a sudden price drop without retracement outside your pre-defined grid range. This drawback is best managed by adhering to good stoploss placement and smart observance of support structure and trend tendencies when setting your grid parameters in the beginning.
BECOME A CRYPTO GRID MASTER
Learn how to grid trade properly and you’ll experience one of the easiest, safest and time-tested trading approaches ever devised. Stick with it and in the long run, become a "Grid Master" and you can enjoy substantial results.
FIRST IN A SERIES OF GRID STRATEGY EDUCATIONAL TUTORIALS
I hope this tutorial series helps increase your bottomline!
HOW DO I LEARN MORE?
1) Review my related IDEAS and TUTORIALS (linked below)
3) Explore my GRID INDICATORS (linked Below)
HOW DO I AUTOMATE MY GRID STRATEGY?
Explore further help and links at the bottom of this tutorial.
PLEASE HIT THE LIKE BUTTON (and follow me... lots of great stuff in the works!)
As always, I appreciate your support. Please share with others.
ENJOY!
Dan Hollings
Master Crypto Grid Trader
Please Explore My Other Indicators, Scripts, Grids and Educational Ideas.
@ DanHollings on Tradingview.
HOW TO GRID TRADE: Keys To Your Lamborghini (A to Z Tutorial)Science Has Proven That Reading This Education Post Will Either Put You To Sleep or Put You On Your Path To That Lamborghini.
Let's Start From The Beginning... (Print this entire tutorial as a reference)
WHAT IS GRID TRADING?
Grid trading is a type of trading, typically managed by a dedicated Grid Bot.
In a nutshell, you select a range, you divide your range into equally spaced buy/sell grids (like trip wires, sorta).
As prices zigzag up and down, your “trip wires” trigger buys and sells catching profits for you incrementally all along the way!
If you start your grid as the market ranges sideways (which is 70% of the time) or when it is in a gradual upward ranging trend (15% of the time) then you are going to make money most of the time.
Your goal in grid trading is to have price zigzag within your grid range as long as possible with a price exit from your grid out the top.
About 15% of the time the market will ranging downwards but worry not, many times even if price exits the bottom of your grid, you may still earn a profit or at worst, have a minimal loss.
Grid Trading requires far less skill and less management than most other types of trading -PLUS- it has far less risk.
Many grid traders make better returns from grid trading than they do with any other trading strategy.
Can you lose money grid trading? YES, but with a little knowledge losing money is hard. A consistent grid trader is a winning trader.
BIGGEST BENEFITS OF GRID TRADING?
It reduces your addiction to chart watching.
It allows you time to eat, sleep drink and be merry.
It allows you to exploit trading opportunities around the clock
It allows you to manage your risks without emotions
It allows you to follow a predefined trading pattern that often beats the ROI (Return on Investment) you're getting from other hands-on trading strategies.
It allows you to trade with less concern about price direction.
It may be a faster way to that Lamborghini everyone is always talking about!
WHAT DO YOU TRADE EXACTLY?
You may trade any cryptocurrency pair. For example, if you have QUOTE currency in USD (or USDT) you would use that to buy a BASE currency (like BTC) within your grid range.
It all starts with an initial investment to get the ball rolling
Then your BOT will buy or sell an equal amount at each grid line
Buy and sell gridline "hits" are replaced with new limit orders gridline-by-gridline as you go along.
Buy and Sell fees are whatever your selected exchange charges (over 25 exchanges are available).
HOW DO YOU EXIT OR QUIT A GRID
If prices exit out the top, you take your money and run! 100% profit.
If prices exit out the bottom, give yourself a little wiggle room but you can pre-set a stoploss. Sometimes your earlier grid gains will equal or exceed any loss your stoploss might incur... like magic!
Many grid traders only trade assets they don't mind holding (like BTC or ETH) and thus never use a stoploss.
Remember: It is far better to take a smaller loss and move your grid to a new range than to get stuck in a coin you do not want to hold.
HOW MONEY DO I NEED TO GRID TRADE?
$100 would be a good start on the lower end.
$1000 (or more) would allow you to run multiple grids simultaneously (which is a good idea).
Regardless, you must follow good money management rules and avoid over investing in any one grid. 5% max of your investment capital per grid and never more than 50% of your capital across all grids will keep you in the game so you can maximize your profits.
Remember, the Wright Brothers were NOT shooting for the moon at Kitty Hawk. They merely want to get off the ground!
10 REASONS MOST TRADERS ARE NOT GRID TRADING?
1) It's a macho thing.
2) It seems too easy.
3) It seems too good to be true.
4) They've never heard of it.
5) They don't know how to automate the strategy.
6) They love watching charts all day, drawing and re-drawing their Elliot Waves.
7) They paid big money for a signal service and are waiting for the big winning signal.
8) They are waiting to catch the next blast off TO THE MOON!
9) They tried umpteen other strategies and are now flat broke.
10) They thought grids were a side dish often served with bacon and eggs.
12 QUICK TIPS FOR STARTING
1) Open a grid bot account to assist with your automation requirements.
2) Connect your bot to your preferred exchange.
3) Start with a cryptocurrency you trust (BTC , ETH or a top 10 coin) . Something you'd be ok holding (HODL) if worse came to worse.
4) Wait for a market where you expect or anticipate sideways or slowly upward ranging price action. Use my indicators to help you nail winning grid areas.
5) Keep your total grid range (lowest grid to highest grid) within 4% to 8%.
6) Select a grid count that renders your grid spacing (distance between each grid line) to a space comparable to typical zigzags you see in recent price action. Typically a .5% to .6% spacing between gridlines (as measured on your Tradingview chart) is a good place to start.
7) After your settings are enter in your bot, click the BACKTEST button. Double check settings, make tweaks, backtest again until you are happy.
8) Invest MINIMALLY on your first few bots (say $100 or something you can afford to lose) . Think of your first grid bot as a "learning experience."
9) Set a stoploss below your grid (there is a setting within the bot for this). If you don't mind holding the coin if prices temporarily drop, then you can forego a stoploss.
10) Don't dream of riches, instead anticipate all goes well and you get a rather healthy ROI (better than a bank and perhaps better than your trading results/ROI using other non-grid strategies).
11) If your first bot does not go well (worry not, remember the first time you tried to ride a bicycle?) . Review what happened and try again. 3%, 5%, 8% gains might be just around the corner. Many people following my strategies are achieving 20% or more in gains over average 3 to 20 day periods.
12) Give your bot time to "do its magic" (perhaps 3 days, a week or longer) ... as long as prices are within your range, you can leave your grid up and running. Move your grid if price range changes.
HOW DO I LEARN MORE?
1) Review my related IDEAS and TUTORIALS (linked below)
3) Explore my GRID INDICATORS (linked Below)
HOW DO I AUTOMATE MY GRID STRATEGY?
Explore further help and links at the bottom of this tutorial.
PLEASE HIT THE LIKE BUTTON (and follow me... lots of great stuff in the works!)
As always, I appreciate your support. Please share with others.
ENJOY!
Dan Hollings
Master Crypto Grid Trader
Please Explore My Other Indicators, Scripts, Grids and Educational Ideas.
@ DanHollings on Tradingview.
