Good day guys! As a very first thing I need to say I have no trading information and do that just for fun with disposable cash. Now to my question. I've developed a buying and selling bot for binance and am looking for a superb technique to let it trade. The bot is customizable with scripts for purchasing, promoting and KPIs. It can run a buy/promote script before shopping for or promoting and that script will say if it is a good time to purchase/promote and how much ought to be bought/bought at what worth. The scripts can make use of the KPI scripts. At present I simply have a RSI KPI script (based mostly on the final 14 minutes but may be based mostly on different intervals) and a purchase script that may let the bot buy when the RSI is under 65. The procedure is as follows:
- begin
- buy when script says so
- as quickly as buy is crammed generate promote order with 0.4% profit
- after sell is crammed restart
There's a threshold mechanism as properly. When a promote order is lively and prices lower it can buy extra and generate a brand new sell order as quickly as extra is purchased. If a buy order is lively and costs improve it can generate a new buy order. How much that improve/lower needs to be could be set.
That is clearly not an excellent strategy because the bot all the time ends up shopping for at a high and then reaches thresholds, buying more till it runs out of money.
What can be better strategies? Helpful KPIs, sell technique, ....
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