How to set up 'Bot' for "HIRN FTX SIGNALS" Signals on 3commas.io?
Three types of configurations ( Conservative, Moderate and Aggressive ) for 3commas.io are explained and links for these settings are attached below. Moreover, parameters of the settings as well as their values with examples are tabled (Values on the screenshots which are attached as a reference for each section may vary, because, these are only examples for easy comprehension actual values are those included in the table).
Kindly find below an explanation for the 3 types of configurations:
1.Conservative settings ( Low risk )-In this settings, 1:1 Risk reward ratio is used, this means that profit and loss are equal and also safety order minimizes the risk too, high volume trading pairs are traded by this settings and safety orders try to sell the target from the base order.
2.Moderate settings ( Balanced risk ) – 1:1 Risk reward ratio method is used here too, trailing take profit is the main advantage of this method,
If each safety order is triggered, take profit will be taken from the total volume of the trade, this means if the base order is $10 and take profit is 2%, then normally that makes 2% profit from $10, But incase the safety orders are triggered with $10, then the take profit is 2% profit from $20(base order+ safety orders= Total volume).
3.Aggressive (High risk) – In this method, stop-loss should not be used (Stop loss in this method may trigger high loss. Bot settings used here are not apt for stop-loss). But maximum safety order advantages have been used for these settings, Incase the price dropped below the “Maximum safety order deviation”, then you need to wait for the opposite trend or you can manage the coin with manual safety order ( Reserve at least 40% fund from the capital amount to do this manual safety order process, It does not mean you need to use 40% reserve fund for a single coin).
Set bot with an appropriate settings link given below (in the tab), first open the link, and then “copy” the settings.
FTX Spot coins Bot settings Links.
Some important things are shared below.
1. First, Click the copy Button (See the screenshot below.)
2. Then click the “Edit settings” link ( See the screenshot below).
- When you copy, in case you see an error as in the below screenshot, please click the ‘Ignore and copy bot ‘ button. These demo settings may have been provided by the channel admins using a paper trading account, which is why this error is shown. But you need to set the exchange in your account as your real exchange.
Main settings Section.
- Name: Any name for your bot, you will see it in your bots list and active trades. You can name it by trading pair or settings.
- Exchange: Select You Binance or Binance.us, Huobi.com account
- Bot Type: ‘Composite’. If you are a user of the 3commas “Advanced” plan, you can only use “Simple Bot” and “Composite Bot” is only available for 3commas “Pro” plan. Create the bot according to your 3commas plan. for 3c.exchange users, simple bots and composite bots are don’t matter.
- Active Deal: You can modify the Deal with your affordable funds.
- Profit currency: ‘Quote’.
- Base order size: $10(Minimum).
- Safety order size: Use the same amount of Base order size for a safety order.
Deal start condition Section.
Take profit Section.
|Target profit (%)||5-9||5-9||5-9|
|Take profit type||'Base_order_volume | Quote Currency'||'Total_bought_volume | Quote Currency'||'Total_bought_volume | Quote Currency'|
|Stop Loss action||'Close Deal'||'Close Deal'||-|
|Stop Loss timeout||5||5||-|
Safety orders Section.
|Max safety trades count||3||3||3|
|Max active safety trades count||3||2||3|
|Price deviation to open safety orders (% from initial order)||7.5||7.5||7.5|
|Safety order volume scale||1||1||2|
|Safety order step scale||1||1||2|
Advanced Settings Section.
- Simultaneous deals per same pair- 1
- Use other vales by default.
- Balance: Here you can see your current balance amount from the exchange
- Max amount for bot usage (Based on current rate): It is an approximate calculation with current market rates. The real price of safety orders may differ too. The reason is that exchanges have price and volume step limitations for orders, and the calculation doesn’t include these limits. The bot itself includes all these limits and trades with them considered.
- Max safe order price deviation: it shows the last safety order price deviation percentage
- And finally, click the “Create Bot” then your bot setup is completed