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Gunbot quickstart guide

This guide helps you get up and running with Gunbot in just a few minutes. If you have the following data prepared already, you can follow the guide without distraction:

  • Gunbot One: Order number, used as license key. Get it in the email confirming your order.
  • Gunbot Standard and above: Gunthy wallet address, the registered Gunthy wallet address for your license.
  • Exchange API key & secret: used to connect to your exchange account, create them at your exchange.

1. Install & startup#

Download Gunbot

Download Gunbot from gitHub

The installation procedure is pretty straightforward, although there are slight differences between operating systems. The general steps are always the same:

  1. Unpack the zip file to a new folder.
  2. Depending on your firewall: allow TCP traffic on the port used for the interface (default port: 5000)
  3. Start executable file and visit the interface in your browser on: http://localhost:5000

Detailed steps per operating system#

Windows, macOS, Linux

1. Connect to an exchange#

When you first open the interface, it takes you to the /setup page where you connect to your exchange account and connect the Gunbot license.

  • Make sure to enter valid exchange API credentials, so the bot can connect to that account and place trades.
  • Depending on the license type, the order number or Gunthy wallet address is used as license key.

If you make any mistake, the page will warn you that a connection to the exchange was not possible.

2. Select and configure a trading pair#

Let's say you want to trade USDT-ETH (buying ETH, selling it for a gain in USDT), with a 2500 USDT budget spread over up to 50 buy orders. It takes 3 settings to configure the bot to do this:

  1. Select the USDT-ETH trading pair
  2. Set the trading limit to 50 (2500 budget / 50 trades)
  3. Set max buy count to 50. This stops the bot for buying when the total current ETH holdings are worth 50x trading limit

Like the stepgrid strategy name implies, it is a grid-like strategy mainly meant for long term trading. What this means is that the next order is always a predictable price distance away from the previous order. It's a strategy that works well when it is able to do many relatively small trades, and take many small profits. What you want to avoid is the bot running out of funds to place additional buy orders.

Learn more about the stepgrid strategy

The stepgrid strategy is really easy to start with and can cope with almost every market situation.

About step sizes#

When you use auto step size, setting a 'max buy count' of 40 to 60 is considered relatively safe and will usually get the bot through hefty market movements without running out of funds. Extreme market conditions may require a higher max buy count to not run out of funds.

Because auto step size is not completely predictable it is not possible to calculate exactly how possible buy orders there can be between a current market price and the lowest possible price. Using auto step size makes it easy to trade various assets with each their own particular price movements: it will detect tradable ranges automatically.

When you use a manual step size (for example set at as: asset price / planned number of buys), it is possible to exactly calculate how much funds can be spent in a certain price range. This allows you to go for a very safe setup that cannot run out of funds to trade with. Using manual step size requires more planning and monitoring.

About starting funds#

When you start trading a new pair, like USDT-ETH, it is recommended to not own any significant amount of ETH. This way the strategy can build up it's own trade, and make sure it only places profitable sell orders.

If you do have assets you for example bought manually and would like the bot to sell, the 'forever bags' option makes the bot ignore any past trading history. Running 'forever bags' with buys disabled can be an interesting way to sell assets in many small parts while the market is moving up.

3. Start trading#

Hit the Start Trading button to start executing the trading strategy you've just configured. Give it a few seconds to fully load and you'll see the trading chart appearing.

You're done now. Just make sure to keep your bot running.

4. Monitoring#

The main chart shows exactly what the bot is doing:

  • Break even: shows the overall break even price of your current holdings, measuring all orders between opening a new trade and selling the last of that trade.
  • Grid DCA target: shows the target for starting buy trailing for the next buy order. Each buy order buys for '1x trading limit'.
  • Grid sell target: shows the target for starting sell trailing for the next sell order. When below break even, each sell order sells '1x trading limit' to take partial profits, above break even it takes profits in bigger increments.

There are a few exceptions where trading targets do not show on the chart:

  • when above break even, a buy step can act as a stop in profit
  • when in no position, it is possible that an (invisible) sell step target leads to a buy order

Trading results#

It is not easy to determine the 'exact current profit' of a grid strategy, because most of the times there will be funds held that still need to get sold in the future. The failsafe way to monitor your trading results is to look at your total wallet balance on the exchange, at times when the bot just sold off the last holdings.

The Gunbot interface shows stats about profit and loss on the dashboard, these are always calculated per order. Buy orders can have a negative result because of the fees paid to place the order. There is no guarantee that these statistics are always valid.

5. Changing settings#

Strategy settings can be changed while the bot is running, new criteria apply immediately after saving.

To change settings for a running pair, edit its strategy settings on the Trading Settings page, in the Active Pairs tab.

To make changes that fundamentally affect the strategy (trading limit, settings that affect step size), wait until a moment there are no remaining holdings left to sell.

tip

The 'Stop after next sell' option can be useful to pause the bot after the next complete sell order, so you can adjust settings afterwards.