Setting Up BravoBot

Adding API Key

The API key is the connection needed for BravoBot to interface with the exchange and to make trades on your behalf.

You will want to get your API key and add it to BravoBot. Currently, BravoBot only supports Binance. To get your API key, you can follow this guide (Binance) or this guide (KuCoin) and add it to BravoBot.

The Binance API keys permissions expire every 90 days. The user will manually have to go and adjust the permissions after 90 days. BravoBot has no control over this rule.

Notifications

Notification settings can be found in the user settings. Currently, telegram notifications are being reworked. However, they can still be used by following this guide.

If the user has many bots, they might want to turn off the “Live Bot has Created a Position” to avoid spam since this means that the bot has entered a position; however, it has yet to make a profit or loss.

Creating a Virtual Wallet

To run a live bot, you need a virtual wallet per live bot. The rule is one bot per virtual wallet. This part is all dependent on your trading strategy. Even the BravoBot team does this differently per member. One has all of their BUSD in one wallet, only running one bot, another has five wallets, and another has 10. This is how you want to spread your risk. Remember, you can have more than one bot. Not all of their settings have to be identical.

More information about virtual wallets can be found here.

Exchange Fees

Note: Binance and KuCoin charges a fee of each time a trade is made. The fee is always taken out of the trade leading to “dust” (fractions of coins). To negate this the user must have at least 10 BUSD/USDT worth of BNB/KSC in their SPOT wallet, to pay for the fees. The exchange instead will take the fee from their BNB/KSC at a discounted rate.

The user must manually enable this option on their Binance/KuCoin dashboard. This is found in the bottom right of the dashboard.

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This is required for BravoBot to operate.


Revision #3
Created 16 November 2022 10:38:16 by BravoBot
Updated 8 March 2023 14:05:55 by BravoBot