Simple Trade Bot Configuration.

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The bot is available here: www.haasbot.com 

I have been getting a log of questions on how to configure the Simple Trade Bot to make it more profitable. One of the hardest thinks to wrap your head around when you are getting started with the trade bot is the indicators and how they work with the bot. The most common mistake is adding more that 3 indicators, this will make trades happen less often if not at all due to the fact each active indicator will have to trigger a buy/sell signal for the bot to execute a trade. When trading LTC/USD on BTC-e we use the RSI and Stochastic indicator at its default values, this will give you a good range of protection and still execute a good amount of trades. We have seen on average $20 a trade profit trading 200 LTC per trade with the settings bellow. 

Advanced Settings:

First you want to set up your "Advanced settings", this will add your drop loss protection, and a new feature as of v0.9.0.7 "Last buy and sell price reset (after sale)" see the image below:

 

In the "Drop-loss adjustment  (time-out)" we set the time out value to 300 seconds (5 min) and leave the percentage value at its default value of 95%. What this does is changes our drop-loss trigger every 5 minutes to avoid selling in a slow dip and protects your profits when the price rises.

We leave the "Last buy and sell price reset (time-out)" disabled at its default value of -1. This is no longer needed with the addition of "Last buy and sell price rest (after sale)".

We also leave the "Disable minimum raise/drop safety" unchecked, you can check if you like, on some trades you will see bigger gains but you will also on some trades see much bigger losses. With our testing we have found this function to be less profitable.

We check the "Last buy and sell price reset (after sale)", this is a great feature that will allow you more profit, simple put it will reset the last buy and sell price after a completed trade cycle. This comes in handy when the price is on the rise and your indicators sell, but the price keeps rising, with a buy signal the bot will buy and start a new cycle to capitalize on the gain.

Indicators:

As stated above we use the RSI and the Stochastic indicators at default values just click on "Add RSI indicator" and "Add Stochastic indicator*" and on the pop-up click save.

With the indicators added your technical indicator box should look like the image below:

After you have all you settings in place add the amount of funds you want to trade (this is done in LTC for this example) or you can click the "All-in" check box to trade 95% of your funds ( when starting out we do not suggest going all in ).

We like to wait about 20 min before checking the "Activate real trading" check box to allow the bot to gather some data, so wait 20 min and then activate trading. Once it is all set up monitor but don't change settings unless there is a mistake, just let the bot do its thing.

Results may vary, but we have had great success with this bot and continue to use it. If you have any question or comments please leave them below.

UPDATE:

Our friends over at Haas Online, the creator of the bot gave us a tip on how to increase profits.

you could improve your trade-momentum a lot by choosing a larger update interval. The above suggestion applies to 20seconds updates, but you should try 60seconds or more. It will give less trades, but the trades itself becomes more profitable because of the bigger price difference.

Stephan de Haas