Congrats on starting your journey to Trading bot success!
Key things to remember
- Trades will go red before they go green. Yep, its just the way it works, usually the bot will buy during a dip. It aims to get the bottom of the dip but often doesn’t quite get the bottom. Therefore things are going to go red for a while. Don’t panic, its normal!
- Aim for 4 trades a day at 2%. 1% a day overall.
1. Sign up to Binance
Go to Binance and sign up with an account. I choose Binance because if you buy some of their coin (BNB) you can reduce your trading fees by 25% which ultimately increases your profit margin! Watch the video below on how to do this:
2. Transfer your funds
Once you’ve done this you’ll need to transfer some funds onto this exchange (if you want to know how to send USD or Fiat to an exchange take a look at this). I recommend using an account specifically for automated trading so that you can get a clean report on your gains. If you are using the same account that you have other funds in and you are doing manual trades its going to be very difficult for you to report on your return on investment because Cryptohopper will report on all funds in the account, not just the funds that are allocated to trade with.
3. Create an account on Cryptohopper
Use this link to get started with Crypto Hopper and subscribe a subscription that suits you:
- Less than $1500 USD – Explorer Hopper
- $1500 – $5000 USD – Adventure Hopper
- $5000+ USD – Hero Hopper
[insert pricing table again]
Explorer Hopper allow you to trade with 15 coins which means you will get a couple of signals per day and it will only look for signals every 10 mins which means you could miss 10mins of action or profits so it’s worth bearing that in mind.
Adventure Hopper only allows you to trade with 50 coins which means you will get enough signals per day to make a decent profit (this is the subscription I run with) and it will look for signals every 5 mins which means you could miss 5 mins of action or profits so its worth bearing that in mind.
Hero Hopper allows you to trade with 75 coins and looks for signals every 2mins which allows you to get in on a trade very quickly after the signal is triggered.n
4. Sign up to the Signals, Strategies and Technical Analysis
These 3 subscriptions provide the logic behind which trades to buy into:
CryptoSet Subscribe to Dump Sniper Pro[inset image]
CryptoSet Knife Catcher Pro[insert image]
CryptoSet Technical Analysis[insert image]
5. Add your Binance API Key
Adding you API key allows your hopper to tell binance what trades to make, telling it which coins to buys and sell an when. Don’t worry Its perfectly safe.
To get you Binance API code go here:
Copy this:[insert image]
And paste it here:[insert image]
And save your settings.
Why I don’t set a stop loss
What is a stop loss?
[Describe and ad example]I choose not to set a stop loss because I don’t fee you need one. When I first started I had my stop loss set to 6% meaning if a trade dropped more than 6% the open position would sell. I found the stop loss was getting triggered to often and therefore set it to 20%. This was much better. It gave my trades much more room to breath. Trades quite often go in the negative, most commonly between -1% to -8% but generally bounciest back up with the next “pump”.