Cryptohopper Automated Trading Update Q3, 2024
As we wrap up another exciting quarter at Cryptohopper, we're happy to share what we've been working on to improve your automated crypto trading experience. We've added new trading bot features, connected with more crypto exchanges, and introduced our new Portfolio Bots. Let's take a look at what's new and what's coming soon!
New Trading Bot Features: Giving You More Control
We're always working to make our trading bots better. Here are some of the new features we've added:
Config Pool Specific Buy Amounts
We've added more options to our Config Pools, letting you set specific buy amounts for different cryptocurrencies or groups of coins.
How it works: In each Config Pool, you can now set:
Percentage buy amount: Choose how much of your total funds to use for each buy order.
Minimum order amount: Make sure your orders are big enough to meet exchange rules.
Force minimum buy amount: Only place orders that are at least as big as you specify, even if it means not trading when you don't have enough funds.
This lets you adjust your buying strategy for each coin or group of coins, helping you manage your money and risks better.
Trailing Stop-Loss Timeout
Our Trailing Stop-Loss feature helps you maximize profits and minimize losses. Now, we've added a timeout option to make it even more useful.
How it works: You can now set a waiting period after your Trailing Stop-Loss percentage is reached, before the trading bot sells. This helps avoid selling too quickly during short price dips that recover fast.
For example, if you set a 2% Trailing Stop-Loss with a 5-minute timeout, the trading bot will wait 5 minutes after it sees a 2% drop before selling. If the price goes back up during that time, it won't sell.
This is especially helpful in volatile markets where prices change quickly, letting you ride out small ups and downs while still protecting your profits.
Stop-Loss Timeout
Like the Trailing Stop-Loss Timeout, we've added a waiting period option to the regular Stop-Loss feature.
How it works: After your Stop-Loss percentage is reached, the trading bot will wait for the time you set before selling. This helps protect you from very short, sudden price drops.
For instance, with a 5% Stop-Loss and a 10-minute timeout, the bot will wait 10 minutes after seeing a 5% drop before selling. If the price goes back up in that time, you keep your position.
Split Positions Based on Percentage
We've added a new feature that lets you divide your trades into parts based on percentages you choose.
How it works: When you open or manage a position, you can now split it into two, each with its own percentage.
To split a position, just go to the position information, choose "Split Position" from the menu, and enter the percentages you want.
New Crypto Exchange Connections: More Places to Trade
We're always working to give you more crypto exchange options for where to trade. Here's what's new:
ProBit Exchange Connection
We've added full support for ProBit Exchange, giving you access to their many trading pairs and competitive fees.
To connect your ProBit account to Cryptohopper:
Log in to ProBit and go to "API Management"
Create a new API Key and turn on IP address restriction
Add Cryptohopper's IP addresses to your whitelist (you can find these in our guide)
Enter your API Key and Secret in Cryptohopper's settings
Create an account on ProBit here and connect your ProBit account to Cryptohopper now.
More Fast Connect Options
We've added our Fast Connect feature to more crypto exchanges, making it easier to link your crypto accounts to Cryptohopper. New additions include:
These join Coinbase Advanced, KuCoin, Crypto.com, and Bybit, which already had Fast Connect.
Fast Connect makes it simpler to set up your account. Just click the Fast Connect button, log in to your crypto exchange account, and approve Cryptohopper – it's that simple!
New Bot Type: Portfolio Bots
We're excited to introduce our new Portfolio Bots, designed to make long-term crypto investing easier.
What are Portfolio Bots?
Portfolio Bots are automated systems that manage a mix of cryptocurrencies based on strategies you choose. They handle tasks like:
Regularly rebalancing your portfolio
Buying and selling to maintain the mix of coins you want
Adjusting positions based on market changes and performance
Key features of Portfolio Bots include:
Customizable Strategies: Choose from pre-made plans or create your own.
Multi-Exchange Support: Manage portfolios across several crypto exchanges from one place.
Automated Rebalancing: Keep your portfolio aligned with your goals through regular adjustments.
Performance Tracking: See how your portfolio is doing with easy-to-understand charts and detailed information.
Getting Started with Portfolio Bots
To create your first Portfolio Bot:
Go to the Portfolio Bots section in Cryptohopper
Pick a pre-made strategy or start from scratch
Choose your cryptocurrencies and how much of each you want
Set how often you want to rebalance and your risk management settings
Connect your crypto exchange account(s)
Turn on your bot and let it manage your portfolio
Portfolio Bots are great for investors who want to keep a diverse crypto portfolio without having to make constant adjustments themselves. They're especially useful for strategies like:
Copying a crypto index fund (e.g., top 10 cryptocurrencies)
Investing in specific types of crypto (e.g., DeFi tokens, privacy coins)
Creating balanced risk portfolios
Custom mixes based on what you think will happen in the market
With Portfolio Bots, it's easier than ever to use advanced crypto investment strategies without a lot of effort.
What's Coming Next?
We're always working on new features to make trading better. Here's a peek at two big updates coming soon:
Improved DCA (Dollar Cost Averaging) Feature
We're finishing up some big improvements to our DCA feature.
Soon, you'll be able to:
Use DCA strategies on individual positions instead of all positions at once
Start DCA actions based on TradingView Alerts and trading signals from Signalers
Block DCA trades for single positions
This will give you more control over your cost averaging strategy, letting you manage your positions in more detail.
New Backtesting Feature Coming Out of Beta
Our powerful backtesting tool is about to get even better as it moves out of beta.
This update will bring:
Faster and more reliable performance
Better reports and analysis
More accurate simulation of real trading conditions
Did you spot issues in the new backtester? Let us know by opening a chat on Cryptohopper’s website. The new backtester will help you test your trading strategies with more confidence, so you can improve your approach before using real money.
Wrapping Up: Making Your Crypto Trading Better
Looking back at what we've done this quarter, we're proud of how we've improved Cryptohopper. From new bot features like Trailing Stop-Loss Timeout and Config Pool specific buy amounts to the new Portfolio Bots, we're always trying to make automated crypto trading better.
Our new exchange connections, including ProBit and more Fast Connect options, give you more choices for where and how you trade. And with exciting features like improved DCA and our upgraded backtester coming soon, we're excited about the future of trading with Cryptohopper.
Thank you for being part of the Cryptohopper community. We're excited to see what you'll do with these new features. Not a user yet? Create your Cryptohopper account now!
