Utilizing a Bot on your trading pursuits will work wonders, especially if you already have a solid strategy which you think is a perfect fit for the type of trader you are. In terms of the types of strategies used in crypto trading, one of the strategies known in Gunbot is the Emotionless strategy which is commonly used by newbies in the crypto market.
Gunbot enables you to configure your trading pairs as well as your strategy. The emotionless strategy allows you to automate your trading even with just a little knowledge about how cryptocurrency consequently works. This strategy is in fact derived from the word itself “emotionless”, it acquires a “set and forget” method of trading.
True to its form, the emotionless strategy sets aside “emotion” in deciding whether or not to perform a certain. More so, this type of strategy is also based on the trading principles of the Ichimoku cloud. The algorithm that is incorporated in the Ichimoku cloud is also used in this kind of strategy in choosing when the proper time to buy and sell specific assets.
According to experts in the field of trading, the emotionless is a relatively safe strategy that enables you to have returns that are although considered not so much but are still steady gains. In automizing your Emotionless strategy, you have to take note of the following:
Your strategy parameters consist of the BUY_METHOD and SELL_METHOD which you can set up in the strategy configurator of your GUI or the strategies section of your config.js file. Thus, you can combine different methods of your buy and sell actions.
More so, if you want a different parameter for your specific pair/s, you can use an override at your pair level. You also have to take note of the following options in your settings:
This is where you set your primary trigger to your buy orders. Configure the parameters as to how you want the execution of your buy orders will be in your emotionless strategy.
This is where you set your primary trigger to your sell orders. Just like your Buy settings, you may configure its parameters as to how you want the execution of your sell orders for this specific strategy.
This is one of the important settings that every trader must take a look into. This is where you set the amount that Gunbot will be allowed to invest in each of your trade.
This refers to the appropriate indicators you will be using for your buying actions through your Emotionless strategy. Note that your BUY_LEVEL will solely rely on your EMA, so in configuring these settings, remember that it will have a direct effect on your buying actions.
Since Emotionless strategy is designed for beginners in the crypto market, some of the settings are not available for this type of strategy, and these include the following: