Bot Trading 101 | The 9 Best Trading Bot Tips

Imagine automating your trading to free up time and eliminate endless hours poring over charts. This guide shares 9 essential tips to supercharge your crypto bot strategy—from smart coin selection to backtesting and strategy updates—helping you trade smarter and more efficiently.

TLDR Automate your crypto trading with Cryptohopper to save time and reduce stress. Follow these 9 tips: choose coins wisely, research and backtest your indicators, vet signalers, join the crypto community, use paper trading to practice, configure custom settings for each coin, set a signal duration to catch opportunities, and update your strategy as market conditions change.

Imagine a world where you can automate every aspect of your trading, leaving you with more time to savor the finer things in life.

Sometimes, trading is like finding a needle in a haystack, hours in front of the charts trying to find that market that gives you an opportunity that may not even come today. Say goodbye to those endless hours in front of charts, desperately seeking that perfect trading opportunity, which may never arrive.

Automate your trading to stop stressing out in the volatile crypto markets.

Start monitoring your crypto bots rather than trying to find the perfect trading opportunity.

Here are 9 tips and tricks to get the most out of crypto bot trading:

1. Select your coins wisely.

It all begins with the coins you select.

Research your favorite cryptocurrencies thoroughly and subscribe to all the social channels to find new developments and partnership announcements that may drive their price up.

And when trading other people's favorite coins, check out the news and charts sections to spot the hidden gems.

If you're a fan of " TradingView crypto screener", you can even automate this process with Cryptohopper by subscribing to them as a signaler. Talk about efficiency!

2. If you are designing a strategy, research your indicators.

When creating a trading strategy, understanding your indicators is essential. Technical Indicators are your trading compass, guiding you through the market's twists and turns.

But here's the kicker: there isn't a single indicator that works well in all market conditions and on all cryptocurrencies.

Depending on market conditions and your trading style, some may be more effective than others.

Determine which indicators are best according to the specific market environments and your trading style.

Whether you use volume, volatility, trend or momentum indicators, test them extensively before trading with your real funds. At Cryptohopper, you can do this easily by going to the Strategy section and using the backtesting tool. You can also practice risk-free with paper trading, a simulated environment to fine-tune your approach.

Every coin behaves differently, so it’s your job to find the indicators that fit your trading goals and the specific market conditions. If this feels overwhelming, subscribe to a signaler or follow a copy bot and let others manage your account for you.

The key is to test, refine, and choose the approach that works best for you.

3. If you are thinking about using signalers, do your homework.

Signalers can make trading feel like a breeze, but don't let that deceive you, it’s important to do your research before jumping in.

When choosing a signaler, don't forget to:

• Check the Performance report and real-time stats.

• Check the Overview of the signal to understand their strategy.

• Ensure they support the coins you trade and your exchange.

• Google the signalers. They often have their own website with info on how they work. Many have teams of highly capable analysts, using breakthrough tech to provide their signals.

While subscribing to a signaler might feel as easy as connecting your bot, clicking “subscribe,” and walking away, a little time researching can make a significant difference. By choosing a reliable signaler, you set yourself up for a smoother and more successful trading experience.

4. Join the crypto community.

Trading doesn’t need to be a solo journey! By joining the crypto community online, you can connect with like-minded traders, exchange ideas, and stay up to date with the latest market trends.

Cryptohopper is active on several social media platforms where you can learn, share, and grow as a trader:

• YouTube - Cryptohopper offers short, easy-to-follow videos that explain every aspect of the platform step by step. You can also find other YouTubers sharing their configurations and how they make a profit using Cryptohopper.

• Twitter/X - Follow us on Twitter/X for announcements, updates, market analyses, and insights that can be helpful for you to navigate your trading tools!

• Discord - Join our active community to chat with experienced traders, ask questions, and share strategies. While Cryptohopper employees cannot legally give any specific trading advice, experienced users are often happy to point you in the right direction!

5. Make the paper trading mode your best friend.

Paper trading is the best way to prepare for real trading, so it should be the last step that every trader should take after determining their strategy but before trading real money.

Jumping straight into trading with real funds without any previous experience is a common mistake with new traders that can lead to losses. Instead, turn on the paper trading mode and put in practice your strategy while you reinforce your trading knowledge.

You can also use paper trading to test different signalers or copy bots to see which ones work best for you. It’s a simple, safe way to practice and gain confidence before using your actual funds.

6. Fire up some config pools.

Trading crypto is like playing with asteroids. Coins are bouncing all over the place, some heading up and some heading down, all at different speeds and in their own unique way.

Once you start getting to know the coins in your portfolio, you can set up specific indicators and actions for those coins.

You may be more interested in scalping some coins, while swing trading others, and treating others as more of a long-term investment.

Config pools will let you do this! Config pools make it easy to set specific indicators and actions for each coin, helping you trade more effectively based on their unique patterns and your goals.

7. “Keep signal for X candles.”

Ever wondered how to handle multiple indicators signaling buys or sells at different times?

Enter "Keep Signal for X Candles."

This nifty feature allows you to set a specific duration (measured in candles) for a buy or sell signal to stay active. It prevents missed opportunities in situations where multiple indicators may not align perfectly.

For example, imagine that we have a strategy with the MACD and DMI, and both have to signal a buy at the same time to open a position. Since these indicators rely on crossovers, it’s rare for them to occur at the same time. As a result, you might miss out on trades.

With the "Keep signal for X candles" function, you can set, for example, MACD to keep a buy signal for 5 candles. This way, if the DMI sends a buy signal within those 5 candles, a buy position will be opened.

This can help your strategy in finding more suitable opportunities.

8. Backtest!

You’ve probably heard the saying, "Those who don't learn from history are doomed to repeat it." The same applies to crypto trading.

Before implementing any configuration, perform a thorough backtest. Backtesting shows you how your strategy would have performed in the past, helping you make better decisions moving forward.

While the future remains uncertain, learning from the past is a proven strategy.

Here’s a backtest that looks just about ready to load into your config!

9. Update your strategy.

Financial markets in general tend to change the way they move from time to time. This is especially true for the crypto market which is younger and still considered in its "wild west" period.

This means that a strategy that works well now may not work well in 6 months from now. Therefore, make sure that you monitor your strategy, and if it doesn't perform well anymore, change it according to the new market conditions.

There you have it – 9 game-changing tips and tricks to supercharge your crypto trading with Cryptohopper.

Ready to Start Trading Smarter?

Take your crypto trading to the next level with Cryptohopper, the best crypto trading bot for beginners and experts alike. Join thousands of traders who are automating their crypto strategies with ease. Start using Cryptohopper today to access powerful tools, expert strategies, and risk-free paper trading.

Now, what are you waiting for? Click here to start automating your trading and unlock a world of possibilities in the world of cryptocurrencies.

Make use of the best trading bot for beginners today!