In this article, we explain the General settings from the baseconfig of your Trading bot. For more information on the Buying settings click here. For the Selling settings click here.
Basic settings
Name: give your bot a name, so you can identify this bot when you have more than 1 bot.
Exchange
Paper trading: when enabled, paper trading allows you to trade using real life exchange data with simulated crypto. In other words, it is play money without risking any actual funds. Ideal to get familiar with automated trading. Do not forget to deposit funds of your selected quote currency to open new positions.
Paper account (only visible when paper trading is enabled): you receive a Paper trading exchange account that covers all exchanges. You can use one exchange per paper trading bot. Remember that using the same paper trading account on the same exchange for multiple bots will result in the same balance across all Paper trading bots. Select a different exchange for additional Paper trading bots or create a new Paper trading account to avoid this.
Fastconnect or API Key (only visible if paper trading is disabled). We recommened Fastconnect if available for your exchange. To use Fastconnect you click on blue button Connect to. For more information about Fastconnect click here.
Use ticker rate: use ticker rate is related to where you place your orders in the orderbook. There are 3 options:
Since trading volumes can differ a lot between exchanges and trading pairs, we recommend using Highest bid, Lowest ask to minimize your losses.
If Use last tick if higher or lower is selected, the sell or buy price will be the last tick value.
Always use last tick takes the price of the last tick, regardless of price fluctuations. When trading on trading pairs with low trading volumes, we recommend using Highest bid, Lowest ask as this setting looks at the highest bid or lowest ask values in the orderbook.
Notifications
Notification on trade: switch the toggle if you want to receive a notification when your bot made a trade.
Notification on trade error: switch the toggle if you want to receive a notification when there’s a trade error.
Notify on cancelled order: switch the toggle if you want to receive a notification when an order is canceled.
Weekly update: switch the toggle if you want to receive a weekly update about your bot.