How to Create Your Bot
Guide to setup your trading bot
Once you have created your Astrabit.io account, subscribed to the bot and connected your exchange, you are now ready to complete the final few steps to getting the bot enabled and watching the trades roll in!
Once you have subscribed and have your crypto exchange API connected, you are ready to create the bot. The first thing you want to do is make sure you are on the Astrabit dashboard by clicking Dashboard in the top middle of the webpage.
Then on the left sidebar you should see your bots, you may not have any in the list or just have a demo bot. From here, click create at the top of the left sidebar. This will bring you to the setup screen for your bot.
Once you have clicked create bot you will be brought to the screen below to setup the strategy. Here you will want to select the bot strategy you want to set the bot up for. The bot type and the currency should pre-populate for you, so you just want to make sure those are correct. Then step 4, you will want to select which exchange you want to use. You should have already connected your exchange API in the previous steps, this is just asking you which one to use for this specific bot.
Bot Setup: Steps 1-4
After selecting your exchange the next step is to name the bot. Here you can input any name you would like your bot to be called, or if you want you can just name it the same name as the strategy. The exchange pair and status should automatically be filled out for you.
Next you will want to set your exchange asset allocation amount. This is the percent of your overall account balance you want to use this bot for. So let's say you have $10,000 in your ByBit account and you only want the bot to use up to $2,000 of your balance. You can set the asset allocation to 20%, then the bot will only use 20% of your overall account balance.
Lastly, you want to set the amount of leverage you want to use. You can set it anywhere between 1x-5x. This is your personal preference, you may choose to use leverage or not use leverage. If you select 1x, you will not be using leverage.
Make sure you understand how leverage works and the risks involved before deciding to use it.
Bot Setup: Step 5
If the bot you are using ends up being a DCA bot, you will need to enter the parameters here just as the strategist have them setup on the backend. For every strategy we provide, if it is a DCA bot, we will outline to you how many entries it can have and the allocation amount for each entry. For our Cinnamon Toast strategy, it can DCA up to 2 entries and allocates 50% of asset allocation to each buy.
In that case, you would want to setup the DCA settings as follows below to match the correct setup process for each specific strategy.
Bot Setup: Step 6
The last step of the process is the Risk Management portion. This is where you can set your own take profit and stop loss levels. Our bots already have these levels set in place however you can override them with your own percentages if you would like.
Just know that our backtesting and actual results are based on our pre-set take profit and stop loss zones so if you override these settings, your results may vary.
We recommend that you leave these options unchecked. After that, click "Create Bot" and you are all setup!
Bot Setup: Step 7
Congrats! Your trading bot is all setup! 🥳