How TrueP&L works?

As you know, cryptocurrency trading is highly volatile. Sometimes, this volatility can work in your favor and other times — it just doesn’t. This unpredictability can be pretty uncomfortable for those who are just getting started or less-experienced traders.

A proper understanding of the market requires in-depth technical and fundamental analysis, something which may sound intimidating but doesn’t need to be when you’re working with the help of crypto trading bots.

TruePnL creates advanced trading bots which follow technical-analysis trading logic, test their past performance, tune parameters regarding the current market conditions, and fully control its execution.

Bot structure

Generally, our automatic trading system has three major parts:

1. Signal generator. This is about price tracking software, information processing in the defined way to generate signals, and a signal sender. There are many solutions for that, starting from simple Python scripts ending with profound ML+TA analysis systems. We utilize a market proven and reliable signal generation platform from TradingView.

2. Risk management. This is about to trade the position that will not bankrupt you and let you fight another day. We provide a simple but rigid system, allowing users to control the amount of each trade, so the risks stay under control. Stop-losses and take-profits are being controlled by the signal generator.

3. Execution. Execution is the second crucial part of our trading system. The execution aims to make strategies as much profitable as on backtests. This is about commissions, slippage, limit/market orders, and many other very small but hugely important things.

How to connect a trading bot

The connection won’t take more than 5 minutes.

At first, you need to create an API Key pair, then using this Key pair, you’ll connect to a chosen bot.

API key creation process

Step 1.

Start with signing into your Binance account. If you don’t have an account yet, sign up via our referral link and get 15% trading fees https://accounts.binance.com/en/register?ref=NGADXQZN.

Step 2.

Open the API management page. (https://www.binance.com/en/my/settings/api-management)

Step 3.

Give API Key a label and hit “Create API” button. Then use your authentication methods to submit API key creation request.

Step 4.

You’ll see a created API key. Now hit “Edit restrictions” button and check “Enable Futures” for the Trading API keys. Don’t forget to save changes!

Nice! Copy API and Secret keys, you’ll need them

Choosing and connecting the bot

Step 1.

Visit https://truepnl.com/trading and choose a bot which you’ll connect to.

Step 2.

After you’ve chosen a bot, hit the “Connect Strategy”, then hit the “Create New API”

Paste your API and Secret keys to the form, fill out the Label input and finish creating an API Keys.

Step 3.

Choose the created API Keys and set the order amount in the input below. Then hit the “Start trading” button.

The connection is ready! You can now track it’s results in the Dashboard page.

Being open is profitable!

Get the Medium app

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