Understanding Bot Parameters
In this section we are going to break down each bot parameter so that you can understand exactly what changing each one does:
Main Settings
Name - Give your bot a unique name. We like to use the name of the pair we’re trading, the strategy, and the max amount of funds the bot can use. I.e. SOL - Bull Bot - 1000.
Exchange - If you’ve connected multiple exchanges to your 3Commas account, you can select which exchange you want to use for this bot here.
Bot Type - Single or Multi Bot. Single bots trade a single pair, and multi bots trade multiple coins and only start deals when specific deal start conditions are met.
Pairs
Pairs - Here you will select the pair (or pairs) that you want your bot to trade.
Strategy
Strategy - Long or Short. Most of the time you will probably just select ‘Long’. However, we also offer some more advanced ‘Shorting’ strategies.
Profit Currency - Quote or Base. Quote currency is what you are trading the coin pair against, which most often will be USD or USDT. Base currency means you will take your profit in the coin that you are trading, which can be useful if you’re trying to increase the amount of a certain coin that you’re holding.
Base Order Size - The size of the very first order that your bot will place.
Start Order Type - Market or Limit. Because limit orders often have lower fees than market orders, we suggest you stick with them.
Deal Start Condition
Deal Start Condition - This is where you will select the strategy that your bot will trade on. For our most simple bots, we use the ‘Open New Trade ASAP’ condition, and don’t worry about waiting for a particular signal to fire. Our strategy is to simply DCA in as price decreases and sell as price increases.
Take Profit
Take Profit (%) - The percentage at which your bot will sell everything it’s bought for a profit.
Take Profit Type - Percentage From Total Volume or Percentage From Base Order. We will pretty much exclusively be using ‘From Total Volume’ as this allows us to steadily decrease the price at which we’ll take profit each time we fill a successive safety order.
Trailing - This option isn’t available on all exchanges, but if it is, you can turn this on to set up your bot to use trailing deviation.
Trailing Deviation - The percentage that the price has to fall for your bot to take it’s Take Profit trade. For example, let’s say that you set up a take profit percentage of 3% and a trailing deviation of .2%. Once your bot reaches 3% profit, it won’t sell, but instead it will continue monitoring the price until it falls .2%. So, if the coin your trading continues to pump all the way to 5% and then finally has a correction and starts to drop back down, the bot will sell if the price reaches 4.8%.
Stop Loss
Stop Loss (%) - The percentage beneath your initial buy order that the bot will perform it’s stop loss action. If you decide to use a stop loss, it’s important to place this at a percentage beneath your final safety order.
Stop Loss Action - Close Deal or Close Deal and Stop Bot
Trailing Stop Loss - This will set the stop loss to follow the price in the direction of your take profit target and always stay at the configured percentage beneath the maximum price reached.
Stop Loss Timeout - This settings helps prevent getting stopped out by erroneous wicks. If the stop loss percentage is reached, the bot will wait the specified timeout and recheck the price before taking the stop loss action.
Safety Order
Safety Order Size - Size of the orders to be placed at set deviations beneath your initial base order.
Price deviation to open safety orders (% from initial order) - The deviation between the base order and successive safety orders. This percentage can be manipulated by the step scale below.
Max active safety trades count - The maximum number of safety orders the bot will place.
Max safety trades count - Since we use limit orders for our bots, you can tell your bot how many you’d like it to have open at a time. For example if your bot is set up with 10 safety orders, you can set this value to 10 so that it will place every trade on the exchange and wait for them to be filled, or set it to 1 so that it only places the next safety order once the previous one has been completed.
Safety order volume scale - The multiplier for the safety order size. For example, if your safety order size is $50 and your volume scale is 2, then your first safety order would be $50, but your second safety order would be $100.
Safety order step scale - The multiplier for the price deviation. For example if your step scale is 1% and your step scale is 1.5, then your first safety order would be placed 1% beneath your initial base order, but your second safety order would be placed 1.5% beneath that first safety order (or 2.5% beneath your initial buy order).
Advanced Settings
Don’t start deals if the daily volume is less than - This will set your bot so that it won’t start deals if the volume doesn’t reach a predetermined amount. This is very useful is trading a large amount of coins in a multi bot and you want to filter out coins that aren’t traded much. In addition, it’s worth noting that volume here is designated as a unit of BTC.
Minimum price to open deal - This won’t open a deal unless the price is above this number.
Maximum price to open deal - This won’t open a deal unless the price is below this number.
Cooldown between deals - This will prevent a new deal from starting until the amount of time specified is reached. This can be a nice setting to use to prevent too many deals from opening quickly.
Open x deals & stop - This sets a limit on the amount of deals this bot can open. Once reached it will turn the bot off.
Auto-convert new deals to Smart Trade - You can ignore this setting. It’s not useful for the types of bots we’re running.
Close Deal After Timeout
The time after which, deal will be closed automatically - This parameter can be set to close a deal automatically after a certain amount of time has elapsed.