Crypto Trading Bots With Coygo Terminal — Simple, Secure and Fast
Crypto trading bots with Coygo Terminal — Simple, secure, and fast
Bitcoin & cryptocurrency traders, you’ve asked and we’ve listened! Coygo Terminal now supports fully automated crypto trading bots, with our first bot strategies focusing on crypto arbitrage.
For years Coygo has offered a suite of tools for mastering crypto day trading, arbitrage and data insights. Since day one we’ve received feedback from our users that you love the real-time data and DIY arbitrage offerings, but you want our tools to be integrated into a fully automated solution. We are so excited to finally introduce trading bot support, and we have a lot in store for the future so continue reading below!
(Trading bots are currently in beta, for the time being all bots are run in test mode and don’t submit real orders to exchanges. We need your feedback to make the best possible solution for you!)
Coygo Terminal’s crypto trading bots experience
Why use Coygo Terminal’s crypto trading bots?
Don’t trust the cloud
Your API keys are only stored on your machine, not our servers. All orders are submitted directly from your machine. Coygo’s servers never have access to your accounts.
Real-time websocket data feeds connect your machine directly to each exchange to provide the fastest possible access to order book and trade data, our servers don’t act as a middleman.
Test your strategy with simulated trading
Run and tweak your bots in Test Mode to simulate a strategy and compare different configurations without submitting real orders to exchanges.
High-speed crypto arbitrage bots
Configure and run arbitrage bots to find and act on Bitcoin & crypto arbitrage opportunities within 25 milliseconds.
Predefined & configurable crypto trading bot strategies
Bots trade using a specified strategy which you can configure to your liking. For our initial release we’ve included one strategy, with more currently in development. Expect a crypto triangular arbitrage trading bot strategy soon!
Our first strategy is the following: > Arbitrage: Two exchanges, no transfers, one direction > > Submit arbitrage trades to two exchanges in parallel when a favorable spread (price difference) is detected. This allows you to perform arbitrage immediately without transferring between exchanges. Trades are done in one direction, always bought on the “Exchange to buy on” and sold on the “Exchange to sell on”. > > For example, when you are > - Buying on Kraken > - Selling on Coinbase Pro > - Using the the BTC-USD trade pair > > Before running a bot with this strategy type you must > > - Be holding USD on Kraken (you will be buying BTC with USD) > - Be holding BTC on Coinbase Pro (you will be selling BTC for USD) > > When a favorable spread is detected, a buy order and an accompanying sell order for the same amount will be submitted to both exchanges simultaneously. If both orders are successfully filled, you will have bought and sold the same amount and the sell order will be at a higher rate than your buy order, yielding a profit. Order amounts will attempt to avoid slippage by avoiding orders larger than the top of the order book.
Need a refresher on how crypto arbitrage works? Check out our blog post for a full break down: How to Profit From Crypto Arbitrage Trading.
How do Coygo Terminal crypto trading bots work?
We’ve spent a lot of time designing and building a system that is simple and approachable for beginners, while still being configurable and robust enough to satisfy our more advanced traders. The process for creating and running a trading bot are as follows:
Step 1: Select a bot strategy
Select a bot strategy
Bots trade using a specified strategy which defines t he basic behavior of the bot, which you can then configure to your liking. For our initial release we’ve included one strategy, with more currently in development. Expect a crypto triangular arbitrage trading bot strategy soon!
Step 2: Configure your bot
Configuring a trading bot
Each bot strategy has its own set of configurable parameters for you to tweak to find what’s right for your personal preferences. These configurations can be changed at any time and you can run bots in test mode so that they simulate trades and don’t submit real orders to exchanges, allowing you to test different configurations without using your actual funds.
For example, the “Arbitrage: Two exchanges, no transfers, one direction” strategy lets you choose parameters including a calculation interval (how often the bot recalculates and submits trades) of 25 milliseconds or more, which exchanges to buy and sell on, which trade pair to use, the minimum arbitrage spread (price difference) to trigger orders, and more.
Step 3: Run your bot
When it’s time to your bot you choose how long you want it to run (or indefinitely if you so choose), and you can enable test mode if you want the bot to simulate trades. Below you will see a list of the past times the bot has been run, allowing you to view the config of that bot run as well as a list of any orders that were submitted while running.
Select how to run your bot
After clicking “Run Bot” your bot will begin subscribing to real-time data and calculating its relevant data. On the left side you’ll see the Current Run which provides information on the current bot run, and has a Bot updates* *section for the bot to provide real-time updates on its execution. For example, bots using the *“Arbitrage: Two exchanges, no transfers, one direction” *strategy will display the current ask, bid and spread between the two exchanges in the Bot updates section. On the right you’ll see the Bot Config section which displays the strategy and config of the current running bot.
Crypto trading bot running in real-time
We want your feedback!
If you’re interested in Coygo Terminal’s crypto trading bots, we need your feedback! Before we move trading bot support out of beta and enable submitting real orders (we currently only allow simulated trades in test mode) we want to make sure we’re providing the best possible solution for you. You can start a free trial today and try everything that Coygo Terminal has to offer by signing up at www.coygo.app.
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