Most Frequent Questions
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Binance and Coinbase Pro supported. We will continue to add exchanges consistently afterwards.
Yes. CrowTrader has its own methods of trying to follow prices up and down. These are proprietary to CrowTrader.
Absolutely. In fact we are going to be implementing more than that, options to buy once, sell N times, etc. What this means is for instance; You bought ADA, and want to exit on GAIN of 2%. You have the option to sell 50% of your position at the level you set, letting the rest ride. Your next sell can be another GAIN rise from there, or an EMA crossing down, or any other strategy defined within CrowTrader. This lets you lock in gains and still leave some to play with allowing for more profit, if this is the type of thing you like.
You give CrowTrader your API key pairs to enable trading on your behalf on the exchange itself. At no point do you need to deposit base currency with an CrowTrader server or wallet to trade using the platform. At a later time, we may support AQS token wallets tied to users for use of transactions within the CrowTrader platform.
Trading always involves risk, no matter how good you believe your entry point is. It has to be understood that there is always a necessity to deal with a situation where your entry has gone against you. This is a question of strategy. Most experienced traders understand that a ‘bag’ is a trade you’ve gotten into that has resulted in a position that is negative, and you desire to get out. There’s several ways to handle this:
- Initiate a stop loss after you’ve entered a trade.
- This is a sane method, one that many people never wanted to listen to during the perma-bull run of late 2017 into 2018. Letting a bot sell at a loss without making enough gains to cover those losses is not sane. So, in order for stop loss to be effective, you will need to beat those losses over the longer term.
- Average down, or in other product terms ‘DCA’
- This also works, but has a couple of inherent problems to overcome. One, you need a LOT more capital to make it work, and can STILL end up holding a much larger bag, if you aren’t taking into account general market conditions. Two, to alleviate the capital issue you need to enter into the initial trade with much lower capital. If the trade goes well and you make several percent, it means less in nominal terms since you started with such a low amount!
- We see two more issues with how DCA is used in other bots. First, most traders just assume it works and they don’t think about the issues stated above. It becomes a shock when they are really into losses with DCA. So, this is a perception issue and traders freak out when it’s ‘not working’. Second, it’s just a tool, but it’s not a proper solution for getting into bad trades in the first place. And this is also where other bots are – it is used as a crutch for a bot that needs to function better. We really think DCA is not meant to be used how it is – getting out of bad trades – and bot authors that introduced this feature, did as a hack.
- Simply HODL
- Also this can work, depending on market and how long you’re willing to be invested. You never realize the loss, however you also can end up in a position where you also have locked up capital that could have been going into other trades.
- CrowTrader Methods
- There are actually many ways to tackle this kind of thing, and we are working on several different approaches. Anti-martingale, where you actually increase position as the trade moves positive, as well as cutting losses either entirely or by 50%. You can also stoploss and monitor that same pair and attempt to get more quote for the base cost as the price moves downwards. The point here being that you keep your capital reserve in your base, instead of throwing base at the position, using the bot’s TA logiAs these are developed by the CrowTrader team we will diagram and explain them here and in videos. As the community builds surely there will be enterprising individuals with their own approaches for users to choose from.
You can install it as many times as you like. The licensing is tied to a number of API keys, not a number of installs or IP addresses.
* 12-18 months between major revisions; this includes bug fixes and features
* LTS for 36 mos ? for major revisions only with bug fixes
Yes, you simply create an API Key on your exchange with permissions to read and trade your account. Once you give the bot this API Key it will then only have these same permissions. So there is never a worry of the bot itself somehow doing withdrawals.
AML and KYC is handled on the exchanges you wish to use for the bot. CrowTrader works by connecting you to the exchange through an API key which is like a code string or date pipeline. CrowTrader is not an exchange in any way, it is simply a tool.