Create your own bot from scratch!
For those who create bots as part of their daily routine, explaining step-by-step how to create a bot from scratch can be a challenge. The parts of the process already automated in the trader’s mind makes it difficult to see them clearly and delimited without skipping a definition or an important tip to consider along the way.
For this reason, before going to the internet to look for an explanation. We turned to the CEO, founder, creator of BinaryTools and also a programming engineer. Jesús Rueda, to tell us step by step what to consider in the creation of a bot from scratch.
This article can be interesting for you: Trading plan: The first step to success
You have to have some basic knowledge
He told us “Many variables are involved” but I will share with you some notions:
The first thing is to manage basic concepts, to know about strategy and to set it up on any platform. It’s necessary to know how the bot structure works.
The way in which a bot is assembled is by “coupling”, that is to say. It groups or couples blocks or modules until it assembles the strategy it wants. For example, I first couple a BinaryTools module called SmartRisk and with this alone I already have in it. All the management system, the stake profit, the investment, the stop loss or any other investment that depends on this module.
4. Segment to know
- I must also know the definitions of the trade. Usually a module is coupled in which the time that the trade will last and what will be the take for each operation must be indicated, and a segment is called to adjust the risk corresponding to the configuration.
- Then comes the segment of looking for signals or buying strategies. This segment is called with each tick of the market and that is where decisions are made. For example, if a moving average is crossed, if pre-established conditions occur, this is where a decision is made and a function called buy is called.
- When a buy order is executed, it goes to a segment that is like a “listening” segment to see the behavior of the trade. Whether it’s gaining or losing. While the contract is being executed.
- At the end, another segment is called, some call it “segment 4”, which is the trade result segment. At this point decisions are made whether to increase the take by applying some risk management or leave it. The so-called “trade result” to decide whether to continue trading or not.
EACH BOT ONE CYCLE
It’s important to understand that each bot is a cycle and as a cycle it has its process and life structure.
Its also important to note that each process has its time. You have to be patient to wait for the conditions that were configured in each coupling block since it will be running as you ordered. Neither faster nor slower or based on the characteristics or indicators to perform a certain action are met. That is until you don’t have them, it will not do it and that can be in seconds or hours. Much of trading and the creation of bots is learned by doing. So we invite you to try it on our platform BinaryTools.
By being part of our community you get many benefits, among them. Being updated and learning with those who have already gone through what you are going through. They know the possible options to support you and accompany you in a learning process that is best done in the company of those who today can talk about results and strategies that work. We are waiting for you at NeuronalTrader to give value to your assets!
Important: The information and/or knowledge expressed in this article shouldn’t be taken as investment recommendations or financial advice. All investments and/or actions involve a risk and each person is responsible for researching, educating and analyzing before making an investment decision.
