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What are Config pools and how to use them?
What are Config pools and how to use them?

Config pools let you apply custom buy/sell settings and strategies to different cryptocurrencies in your trading bot.

Pete Darby avatar
Written by Pete Darby
Updated over 3 months ago

With Config pools, you can use different buy and sell settings and trading strategies for one or more cryptocurrencies in the trading bot. Config pools override the buy and sell settings and strategies you have set in the Base config.

By using Config pools, you can tailor your trading strategies better for different cryptocurrencies.

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

❗Required Setting

πŸ’‘ Optional Setting

As you will see, most options are optional. When you don't change any settings for the enabled features, the trading bot will use the Base config values.

Basic settings

  • ❗ Name: Name the Config pool.

  • ❗ Enable: When setting up a Config pool the switch is toggled at enabled. Only switch the toggle to disable the Config pool.

  • ❗ Currencies using this pool: Select the cryptocurrencies for this Config pool.

Buy settings

  • πŸ’‘ Order type: Select what order type your trading bot should use for buying.

    • Market orders will be filled immediately, but could result in lower profits or bigger losses, especially when there's low volume or high volatility in the market.

    • Limit orders are orders for a specific price that take longer to fill.

  • πŸ’‘ Max open time buy: Fill in the number of minutes a buy order should be open before the order is canceled. A small portion of your funds are reserved when an order is placed, so you want to cancel orders to have funds free to make other trades.

  • πŸ’‘ Cooldown: Switch the toggle so your trading bot will not try to buy a coin within your chosen cooldown period after a buy or sell. This prevents your trading bot from buying too much of the same cryptocurrency when it receives multiple buy signals simultaneously.

  • πŸ’‘ Cooldown when: Select if you want a cooldown period after buys, sells or both.

  • πŸ’‘ Cooldown period: Fill in the number of minutes your bot is in the cooldown period for the currencies selected.

Coins and amounts

  • πŸ’‘ Percentage buy amount:

    • Specifies the size of each buy order as a percentage of your total assets or the "Maximum amount allocated" (if set).

    • If this falls below your exchange's minimum order amount, the exchange minimum will be used instead.

  • πŸ’‘ Minimum USDT per order:

    • Sets the minimum amount for each buy order.

    • Used when "Percentage buy amount" is not configured or left blank.

    • Should be equal to or higher than your exchange's minimum for the quote currency.

    • If available funds are lower than this setting, the trading bot will use all available funds.

  • πŸ’‘ Force minimum buy amount: When enabled, the trading bot will only place buy orders that meet or exceed the specified minimum amount, even if it means not trading at all when available funds are insufficient. This ensures all trades meet a minimum size but may result in missed opportunities when funds are low.

Strategy

  • πŸ’‘ Strategy: Switch the toggle if you want to use a trading strategy. If you have Strategy enabled in your Base config these settings will be copied here. You can tweak the trading strategy for the Config pools.

Trailing stop-buy

  • πŸ’‘ Trailing Stop-Buy: Switch the toggle to enable Trailing Stop-Buy. If you have Trailing Stop-Buy enabled in your Base config these settings will be copied here. You can tweak the Trailing Stop-Buy for the Config pools.

  • πŸ’‘ Trailing Stop-Buy percentage: Fill in the percentage that the price should rise before your Trailing Stop-Buy is triggered.

Sell settings

  • πŸ’‘ Take profit at: Fill in the percentage profit you want to make on a position before selling. When a position goes above this percentage, your trading bot will place a sell order. The settings you filled in with the Base config are copied here. You can tweak it for the Config pools.

  • πŸ’‘ Order type: Select what order type your trading bot should use for selling. Market orders will be filled immediately, but could result in lower profits or bigger losses. Especially when there's low volume or high volatility in the market. Limit orders are orders for a specific price that take longer to fill. The order type you selected with the Base config is copied here. You can change it for the Config pools.

  • πŸ’‘ Max open time sell: Fill in the number of minutes a sell order should be open before the order is canceled. Setting a short sell open time your trading bot can try again quickly. It can also result in your orders only being partially filled. The minutes you filled in with the Base config is copied here. You can tweak it for the Config pools.

Sell strategy

  • πŸ’‘ Sell based on strategy: Switch the toggle if you want to use a trading strategy to sell. Your trading bot will sell your positions when your trading strategy signals to sell.
    ​
    ​Important: with this setting, your positions could be sold at a loss. If you have Sell Strategy enabled in your Base config these settings will be copied here. You can change it for the Config pools.

  • πŸ’‘ Only sell in profit: When enabled and your trading strategy or TradingView Alert signals a sell, only positions in profit will be sold. In this case, other sell settings will be overruled.

  • πŸ’‘ Sell in profit percentage: Only sell with trading strategy if profit is higher than this percentage.

Stop-loss

  • πŸ’‘ Enable: Switch the toggle so your trading bot will use a Stop-Loss. If you have Stop-Loss enabled in your Base config these settings will be copied here. You can change and tweak it for the Config pools.

  • πŸ’‘ Stop-Loss percentage: Fill in the percentage your position needs to go down before your Stop-Loss is fired. Enter a positive number. For example, if you want to sell your positions when the price drops 2,5%, fill in 2,5%.

  • πŸ’‘ Stop-loss timeout: Set a time delay before executing the Stop-loss after the threshold is reached. This helps avoid selling during brief price dips that quickly recover.

Trailing stop-loss

  • πŸ’‘ Trailing Stop-Loss: Switch the toggle so your trading bot will use Trailing Stop-Loss. If you have Trailing Stop-Loss enabled in your Base config these settings will be copied here. You can tweak and change it for the Config pools.

  • πŸ’‘ Trailing Stop-Loss percentage: Fill in the percentage you want the coin to drop. When this percentage is met, your trading bot will try to sell the position.

  • πŸ’‘ Arm Trailing Stop-Loss: Fill in the percentage of profit your position needs to reach before selling. You want to cover the fees you're paying for the trade. For example, you fill in 1%. Your Trailing Stop-Loss will be armed when the position hits 1% profit. The trading bot will sell the position once the price drops with the Trailing Stop-Loss percentage.

  • πŸ’‘ Use Trailing Stop-Loss only: Switch the toggle so trading your bot will only use Trailing Stop-Loss to sell a position. When enabled, the trading bot will not sell your position when your Take profit, Sell based on strategy, or Short based on strategy signals a sell.

  • πŸ’‘ Reset Stop-Loss after failed orders: Switch the toggle to reset this setting after a canceled order. Orders can be canceled when they're not filled or are open longer than configured.

  • πŸ’‘ Only sell with profit: Switch the toggle so your trading bot will check if the position is sold with a profit when the Trailing Stop-Loss is triggered. If Trailing Stop-Loss would sell a position with a loss, then the sell order will not be placed.

Auto close

  • πŸ’‘ Enable: Switch the toggle if you want to sell positions after a given time. This is often used by merchants and miners. They want to synchronize positions and automatically exchange them for another (stable) currency. Warning, when enabled all your positions will be sold after X time. Even if they're at a loss. If you have Auto Close enabled in your Base config these settings will be copied here. You can tweak and change it for the Config pools.

  • πŸ’‘ Close position after X time open: Fill in the time before your trading bot starts to sell all your positions.

Dollar Cost Averaging (DCA)

  • πŸ’‘ Dollar Cost Averaging: Switch the toggle so your trading bot will use Dollar Cost Averaging. If you have Dollar Cost Averaging enabled in your Base config, these settings will be copied here. You can tweak and change it for the Config pools.

  • πŸ’‘ Order type: Select what order type your trading bot should use for buying. Market orders will be filled immediately, but could result in lower profits or bigger losses. Especially when there's low volume or high volatility in the market. Limit orders are orders for a specific price that usually take longer to get filled.

  • πŸ’‘ DCA after X time open: Select the timeframe after you want to create a DCA order for your position. This is brilliant if you're a beginner and want to accumulate Bitcoin (or another cryptocurrency) over a longer period.

  • πŸ’‘ DCA max retries: Fill in the maximum of DCA orders that your trading bot can create for a specific currency. The count is reset after every successful sell of a DCA order. Important: don't set this number too high. It could result in even higher losses (in the case you're using it as a tool against loss-making positions).

  • πŸ’‘ DCA set percentage trigger: Fill in the percentage the price must fall before your trading bot should place a new DCA order. Enter a positive number. You can use this as an alternative for Shorting or a Stop-Loss. Using DCA can be expensive as a loss-making position won't always become positive again.
    ​
    ​Important: When a new position is created/merged after your DCA order, your position needs to go down with the configured DCA percentage again before it triggers again. It can happen that your DCA successfully finishes its action later than configured, due to a limit order that isn't filled. Consider using market orders.

  • πŸ’‘ DCA buy immediately: Switch the toggle to trigger the buy immediately. It will be triggered when the Percentage loss get hit.
    ​
    ​Important: the trading bot will buy without taking into account your trading strategy and can buy at an unfavorable time.

  • πŸ’‘ DCA Order Size: Select how big the orders need to be. The bigger, the more loss you will have when the price drops even further. There are 3 options:

    1. Double down: This will open a DCA order with the same amount as you have in all open positions for a specific currency.

    2. Triple down: This will open a DCA order twice as big as all your current open positions of a particular currency.

    3. Custom percentage: Choose your percentage.

Frequently Asked Questions (FAQ)

Are there different settings?

Except for Shorting, all functions of the Base config are available in Config pools.

Can I create multiple Config pools for the same cryptocurrency?

No, that's not possible. Once you have added a cryptocurrency to a Config pool, the Base config is no longer used for this currency. It is also not possible to apply multiple config pools to the same cryptocurrency.

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