Live Bot Administration
The Live Bot Administration category (found on the left side of the screen) will contain all parts related to live bots.
Live bots are the bots that will be trading as the user with real BUSD through API keys. User’s crypto will be at risk when the bot is trading.
The dashboard allows the user to see an overview of all of their live bots. The user can view this data across various timeframes. Here you will see the number of bots running, profit (timeframe dependant), return on investment (ROI) percentage for the selected timeframe, “profit over time” graph, an aggregate of your bot’s important analytics (timeframe dependant), “profit and loss” interactive chart (pressing the legend buttons hides them on the chart), and a live bot overview that can take you directly to in-depth bot overview. Pressing the logo in the top left will always get you to this page.
Live Bot Control Panel
The control panel (that is found under the “Live Bot Administration” category) is where you will be able to create and control what your live bots are doing. At the top of the page, you will see the number of live bots made, the number of live bots currently running, and the number of bots that have errored. In the top right, there is the button to create a new live bot and the button to refresh the table manually (the table will refresh itself automatically every ~6 seconds.). Each bot in the table will be able to give you various information such as its status (what the bot is currently doing), what pair it’s trading, change percentage since entering the trade, profit in BUSD, and trade length. The bot name can be pressed to go to the in-depth bot view. Hovering your mouse over the various table cells reveals more information, such as the entry price of the coin, how much BUSD the bot has currently invested, and more.
Live bots can be copied over to backtesting bots. Select a bot using the ‘select’ button in the bot’s matching column, and click on ‘Copy to Backtesing’ in the controls menu. Your bot will now be copied over to the Backtesting Control Panel with its original name and (Copy) appended to it.
Creation of a Live Bot
At the top of the page, you will find that bots require housekeeping information. The user will have to enter a name for the bot, select which virtual wallet (more on this later) the live bot will be using, and the buy order size.
This is where the user selects their virtual wallet, assuming they have already created one. Since wallets can only be used by one bot at a time, the wallets in use will be grayed out.
Fixed Buy Order Size
The buy order size is what percentage of the wallet the bot will use. If the user uses a simple stop loss and take profit strategy, this can be 100%. However, if they wish to use the grid trading strategy. For instance, a fixed buy order size of 2%, with a virtual wallet size of 1000 BUSD, would mean 20 BUSD will be used to buy into a position. If you are using a grid bot, each subsequent level will also utilize 2% / 20 BUSD, not accounting for price scalars (more information later).
The coin list is a selection of coins by the user that the bot will trade. These can be selected either with the quick selection buttons by their market cap (top 5, top 10, top 25, top 50) or by manually pressing select. The coins can be removed by hand by either finding them on the table and pressing the “selected” button to deselect or by pressing on the coin logo un the “Coins Selected.” The coin list consists of coins that have enough pricing data, are not stable coins, and are traded against BUSD.
The user-selected coins will all be traded against using the user-provided entry and exit rules.
The way BravoBot deals with entry strategies is unique. The user can have multiple entry strategies. Each entry strategy can consist of one or more entry rules. Rules are user-defined conditions that evaluate to either true or false. If just one of the potentially multiple entry strategies is true, the bot will enter a position. For an entry strategy to evaluate to be true, every rule within it must be true at the same time.
- Rule 1, Buy if the RSI in the last 1 minute is less than 25
- Rule 2, Buy if the RSI in the last 15 minutes is less than 35
- Rule 3, Buy if the RSI in the last 1 day is greater than 75
- Rule 1, Buy if the RSI in the last 1 minute is less than 10
*The Relative Strength Index (RSI) is a momentum indicator that measures the magnitude of recent price changes to analyze overbought or oversold conditions. Learn more here.
For example, above, we see two different entry strategies. For the bot to enter a position, either ‘Strategy 1’ or ‘Strategy 2’ must be true. If they are both true simultaneously, then ‘Strategy 1’ will be considered the utilized strategy, as it appears before ‘Strategy 2’ in the ordering.
For each coin that has been selected in the aforementioned coin list, each rule within the strategies is tested. This means that if you have selected Bitcoin (BTC), and Ethereum (ETH) in the coin list, then every 15 seconds the bot will check whether for BTC, and for ETH:
RSI in the last 1 minute is less than 25 AND RSI in the last 15 minutes is less than 35 AND RSI in the last 1 day is greater than 75, are all simultaneously true (Strategy 1).
RSI in the 1 minute candles, is less than 10. (Strategy 2).
Only a single strategy has to evaluate to be true for one of the bot’s selected coins for the bot to create a position.
Exit strategies are how the bot is going to exit the position. BravoBot has various exit strategies. BravoBot currently has Take Profit with Optional Stop Loss, Trailing Stop Loss, Delayed Trailing Stop Loss, and Grid Trading Strategy as exit strategies. Learn more about these exit strategies by clicking on their names.
Live Bot Controls
Once a bot has been selected through the live bot table, you will be able to control the bot through the bot control panel. Here the user can do various things to the bot:
- Start stats the bot
- Stop After Trade stops the bot after its closes its position
- Market Sell & Stop market sells the position and stops the bot
- Force Stop force stops the bot (dangerous, more on this later)
- Duplicate duplicates the bot
- Copy to Backtesting copies the bot over to backtesting
- Modify modify the bot settings
- Delete delete the bot
The control panel will also have information about the name of the live bot when it was created, the number of entry rules, which virtual wallet it’s using, the state that it’s in, and a preview button of its configuration. At the bottom of the control panel is the in-depth bot view.
In-depth Bot View
Here are the in-depth analytics about a specific live bot. Just like the dashboard, you can adjust the timeframe to see how the bot performed during a specific timeframe. The timeframe can be adjusted in the top right, and automatic page refreshing can be enabled so that new trades are automatically added without the user having to refresh the page.
On the top row of this page, you will see the profit in BUSD (timeframe dependant), the number of trades made (timeframe dependant), the volume traded in BUSD (timeframe dependant), and the average profit per day in BUSD (timeframe dependant).
After the top row, there is a pie chart that shows the volume in BUSD traded in the various selected coins. Below the piechart is a table showing the same information for the top five highest-volume traded coins but in a table format. Each slice of the pie chart can be further inspected by hovering your mouse over it.
Right of the aforementioned pie chart, there is the “Profit vs. Trades Chart.” This chart displays specific bots’ number of trades, volume in BUSD, and profit in BUSD. The chart is interactive, clicking on the three legend keys (Trades, Volume, Profit) at the bottom of the chart can hide or show various aspects of the graph.
Below the “Profit vs. Trades Chart” is the ’Bot Trade Log.’ This log displays all the coins traded within a certain timeframe for the selected bot. The trade log is timeframe dependant (changeable in the top right). The table shows the quantity of a coin purchased in a trade. How much BUSD it cost to acquire the coin, which entry strategy was used to purchase the coin, what exit strategy was used, how long the bot was in the trade, how much profit the bot made in BUSD, and when the trade was created. This table is able to be exported as a CSV file (button, top left of the trade log) in the case that the user wishes to analyze the data further using spreadsheet software. Furthermore, it is also possible to sort data by pressing the column headers, search for data by using the search bar in the top right, or finally to print the trade log using the button in the top left. The Chart can also be downloaded as either a SVG or PNG file, by clicking on the burger menu (3 horizontal lines) found in the top right of the graph.
Lastly, at the bottom are the settings that the bot used when trading.
Virtual Wallets are BravoBot’s solution to running multiple bots under one exchange account. Virtual wallets allow you to split your single Binance SPOT wallet into smaller separate wallets. This is useful to distinguish between different bots clearly. The bots will automatically update their assigned wallet each time they make a trade.
The user can assign a specific amount of BUSD to each wallet. Each individual virtual wallet can only be utilized by exactly one bot at a time maximum.
Virtual wallets are only utilized by live bots.
More information about virtual wallets can be found here.
Virtual Wallet Dashboard
You will find three distinct metrics at the top of the virtual wallet dashboard page. There is a count of how many virtual wallets the user has, the number of active wallets (being utilized by a bot), and lastly, the amount of BUSD across all the active virtual wallets still available (i.e., BUSD that is not currently within a bot’s trade). In the top right corner of the page, you will find the virtual wallet creation button.
Below all the metrics is the table showing all of the user’s virtual wallets. The virtual wallet table provides various information, such as your virtual wallet’s name, which API key it is using, which exchange the wallet is for, what the wallet size is, how much of that wallet is currently invested, the currency of the wallet (currently only BUSD is supported), the status of the wallet (if there are issues with the wallet) if the bot is being utilized by a bot, last time user edited the wallet, and finally actions. In terms of actions, you can either delete or modify a wallet.
There also exists hidden information that users can find by hovering their mouse over specific columns. Such as the name of the bot utilizing a virtual wallet. Or the amount of BUSD currently not invested. Virtual wallets can also be searched using the search bar in the top right. Or sorted by clicking on any table headers.
Virtual Wallet Creation
The wallet creation screen will appear once the button in the top right to create a wallet is pressed. A wallet name needs to be provided, optionally a description, which API key to use (see this guide if you are not sure how to add an API key to your account), and then the user has to fetch their balance. Once the balance has been fetched, BravoBot will automatically determine how much BUSD you have, which is not already used by other virtual wallets, and can be allocated to the new virtual wallet. To allocate BUSD to the new virtual wallet, use either the slider, the percentage selector or by manually entering a value.
Virtual Wallet Modification
If the user wishes to change the amount of BUSD, it can be done by pressing the “Modify” button on the virtual wallet dashboard in the row matching the desired virtual wallet. The same window will show up as seen previously in the virtual wallet creation, however it will now adjust the existing wallet rather than creating a new one.