Skip to main content
All CollectionsTrading Bots & FeaturesPortfolio Bot
How to configure my Portfolio Bot?
How to configure my Portfolio Bot?

Learn to configure Cryptohopper's Portfolio Bot for optimal crypto trading. Explore settings for rebalancing, exchanges, and order types.

Pete Darby avatar
Written by Pete Darby
Updated over a week ago

Cryptohopper's Portfolio Bot is a powerful tool for managing your cryptocurrency investments. This article will guide you through the various settings and options available, helping you optimize your trading bot for maximum efficiency and performance. We'll cover basic settings, crypto exchange configurations, notifications, buy and sell settings, and cryptocurrency allocation strategies.

To help distinguish between required and optional settings, we've implemented a visual indicator system:

❗Required Setting

πŸ’‘ Optional Setting

Basic Settings

In the Basic settings, you'll find several core functions of the Portfolio Bot.

  • ❗ Name: Give your Portfolio Bot a name, so you can identify this bot when you have more than one bot.
    ​

  • ❗ Rebalance Interval: Determine how often you want to rebalance your Portfolio Bot. The frequency and method you select impact your crypto exchange's trading fees and profitability.
    ​

  • πŸ’‘ Rebalance on percentage change: Use this setting when you want to take profits immediately above a certain percentage when it's reached for an open position. The profit is immediately converted to your quote currency and will be included in the next rebalance to meet the percentages you set per cryptocurrency.

  • πŸ’‘ (Rebalance) Percentage: Determine the percentage at which your Portfolio Bot should immediately convert the profit to your quote currency.
    ​

  • ❗ Rebuy positions: The article "How to set rebalance intervals for your crypto Portfolio Bot?" explains the different strategies you can apply and provides examples for each rebalance option. There are 3 rebalance options you can apply:
    ​

Exchange

To use the Portfolio Bots on Cryptohopper, you need a crypto exchange account, such as Binance or Coinbase, or you can use Paper Trading.

  • ❗ Paper Trading: When disabled, you can connect to your crypto exchange of choice. Please check the article "How to connect my crypto exchange to Cryptohopper?" to find the step-by-step explanation for your exchange by using Fast Connect (recommended) or API Keys. When enabled, Paper Trading allows you to trade using real-life crypto exchange data with simulated crypto. In other words, it is play money without risking any actual funds. Ideal to get familiar with automated trading. Don't forget to deposit funds of your selected quote currency to open new positions.

  • ❗ Use ticker rate: Use ticker rate is related to where you place your orders in the orderbook. Since trading volumes can differ a lot between exchanges and trading pairs, we recommend using Highest bid, Lowest ask to minimize your losses. There are 3 different options:
    ​

    • 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

You can receive notifications for various events in your crypto Portfolio Bot:

  • πŸ’‘ Notification on trade: Receive notifications when a buy or sell trade is executed.
    ​

  • πŸ’‘ Notification on trade error: Receive notifications when a buy or sell order cannot be placed so you can see the reason later in your Portfolio Bot Output.
    ​

  • πŸ’‘ Notify on canceled order: Receive notifications when a buy or sell order is canceled.
    ​

  • πŸ’‘ Portfolio summary on rebalance: Receive an email overview of your trades whenever a portfolio rebalance occurs.

Buy Settings

You can use different order types for buying positions in the Portfolio Bot with various settings.

  • ❗ Order type: A limit order is an order placed at a predetermined price. Once your Portfolio Bot places the order, based on the ticker rate selected in your Exchange settings, it will be visible in the order book of your crypto exchange. The order will only be executed when the price of the currency matches your quoted price. This could result in your order not being filled within your max time open order. A market order will always fill immediately. Since the prices are constantly changing, it could be that the complete order is executed at a slightly different rate than anticipated. Do not use market orders on illiquid trading pairs, as this will result in instant losses. This is a required setting. Check out the differences between market and limit orders in our YouTube video.

  • πŸ’‘ Percentage bid: If you want to systematically make lower or higher bids for your buy orders, you can enter a percentage here. For example, if the lowest ask for a coin is 1 and you configure 1 (%) lower bid here, it will place an order for the price of 0.99. If you enable this, you should also check that your 'Max open time buy' is high enough.
    ​

  • ❗ Determine the number of minutes a buy order remains open before the order gets canceled. Orders may get partially filled. The Portfolio Bot will continue placing limit orders until they get filled when you've selected limit orders as order type.

Coins and Amounts

The Coins and amounts page for the Portfolio Bot consists of 4 different settings that you can use and determine how much you invest and into which cryptocurrencies.

  • ❗ Quote currency: A quote currency is used by your Portfolio Bot to buy other cryptocurrencies and to sell those back for your quote currency. Make sure that you deposit funds corresponding to the quote currency, otherwise, your Portfolio Bot won't have funds to buy currencies with.
    ​

  • ❗ Allowed coins: Select the cryptocurrencies you want to invest in with your crypto Portfolio Bot. Keep in mind that more is not always better because you also have to deal with minimum trade amounts of your exchange and the different rebalance options of the Portfolio Bot's Basic settings.
    ​

  • ❗ Portfolio settings: Manually enter a percentage per cryptocurrency or use the slider to determine the percentage. When you're not yet at 100% for the cryptocurrencies you want to invest in, you can try the "Correct percentages" button one or more times to reach 100%. You don't necessarily have to reach 100%.
    ​

  • πŸ’‘ Maximum USDT amount allocated: Determine the maximum amount the Portfolio Bot may use from your total assets. For example, if you have 1000 USD in total assets on the exchange and enter 500 USD here, your Portfolio Bot can only have 500 USD invested in other currencies. This is an optional setting.

Sell Settings

You can use different order types for selling positions in the Portfolio Bot with various settings.

  • ❗ Order type: A limit order is an order placed at a predetermined price. Once your Portfolio Bot places the order, based on the ticker rate selected in your Exchange settings, it will be visible in the order book of your crypto exchange. The order will only be executed when the price of the currency matches your quoted price. This could result in your order not being filled within your max time open order. A market order will always fill immediately. Since the prices are constantly changing, it could be that the complete order is executed at a slightly different rate than anticipated. Do not use market orders on illiquid trading pairs, as this will result in instant losses. This is a required setting.
    ​

  • πŸ’‘ Percentage ask: If you want to sell your position for more profit than its current market rate, you can set a percentage here. For example, if the highest bid for a coin is 1 and you configure 1 (%) higher ask here, it will place a sell order for the price of 1.01. If you enable this, you should also check that your 'Max open time sell' is long enough.
    ​

  • ❗ Determine the number of minutes a sell order remains open before the order gets canceled. Orders may get partially filled. The Portfolio Bot will continue placing limit orders until they get filled when you've selected limit orders as order type. .

Configuring your Cryptohopper Portfolio Bot involves consideration of various settings, from basic rebalancing strategies to detailed buy and sell configurations. By understanding each option and its impact on your trading, you can create a Portfolio Bot that aligns with your investment goals and risk tolerance. Remember to regularly review and adjust your settings as market conditions change and your trading strategy evolves.

Did this answer your question?