DBot trading platform
In the last lesson of this course we will explore Deriv Bot, a powerful no-code solution that allows you to create automated trading strategies effortlessly and capture trading opportunities 24/7. By using the simple drag-and-drop “blocks” feature, traders of all experience levels can build custom strategies that suit their trading needs.
Introduction to Deriv Bot
Deriv Bot is designed for ease of use, providing an intuitive interface for traders to automate their trading strategies without the need for programming skills.
Accessing Deriv Bot
To get started with Deriv Bot:
- Log into your account on Deriv’s Trader’s Hub.
- Select “Deriv Bot” from the available options to access the Bot Dashboard.
Once in, you will encounter several options for starting your trading journey.
Deriv Bot Dashboard Features
Upon entering the Deriv Bot Dashboard, you will see four primary options:
- Load Existing Strategies: Import strategies from “My Computer” or “Google Drive.”
- Quick Strategy: The fastest way to get a trading bot up and running using predefined strategy templates.
- Bot Builder: For advanced users, this allows for creating custom strategies from scratch.
Quick Strategy
The Quick Strategy feature breaks down each trading bot into two main components:
- Strategy Template: This determines how your bot will adjust the stake amount after each trade based on profitability.
- Examples of Strategy Templates include:
- Martingale: Doubles the stake after a loss to recoup expenses.
- D’Alembert: Adjusts the stake according to a set unit, increasing it after a loss and decreasing it after a win.
- Oscar’s Grind: Focuses on capturing small and consistent profits.
- Reverse Martingale: Increases the stake after a win and decreases it after a loss to maximize winning streaks.
- 1-3-2-6: Follows a fixed staking pattern after consecutive wins.
- Martingale: Doubles the stake after a loss to recoup expenses.
- Examples of Strategy Templates include:
- Trade Parameters: These parameters specify the asset to be traded, trade type, purchase conditions, initial stake, duration, profit threshold, and loss threshold.
Setting Up Your Strategy
After selecting your strategy template and filling in the required trade parameters, simply click “Run” to launch your bot. Make sure to practice any strategy on a demo account first to refine your approach and build confidence.
Using the Bot Builder
For those interested in customizing their strategies further, the Bot Builder offers advanced features:
- Workspace (Canvas): This is where you drag and drop blocks to create specific functions for your bot.
- Blocks Menu: Categorized into trade parameters, purchase conditions, sell conditions, and restart trading conditions. Each block has specific instructions that guide how the bot operates.
Examples of Block Functions
- Trade Parameters: Define what market to trade, contract types, and stake amounts.
- Purchase Conditions: Specify when the bot should enter trades based on your criteria.
- Sell Conditions: Instruct how the bot should behave while the trade is active.
- Restart Trading Conditions: Set up what happens after the end of a contract before starting a new one.
Conclusion
With Deriv Bot, you have a powerful tool at your fingertips for creating automated trading strategies that suit your trading style and preferences. By utilizing the Quick Strategy and the Bot Builder, you can establish a systematic approach to trading within the Deriv platform.
Remember to practice thoroughly on a demo account to ensure you understand the intricacies of your chosen strategies before transitioning to live trading. In our next lesson, we will explore executing trading strategies on Deriv's synthetic offerings using options. Thank you for joining this lesson, and happy trading!
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DBot trading platform
In the last lesson of this course we will explore Deriv Bot, a powerful no-code solution that allows you to create automated trading strategies effortlessly and capture trading opportunities 24/7. By using the simple drag-and-drop “blocks” feature, traders of all experience levels can build custom strategies that suit their trading needs.
Introduction to Deriv Bot
Deriv Bot is designed for ease of use, providing an intuitive interface for traders to automate their trading strategies without the need for programming skills.
Accessing Deriv Bot
To get started with Deriv Bot:
- Log into your account on Deriv’s Trader’s Hub.
- Select “Deriv Bot” from the available options to access the Bot Dashboard.
Once in, you will encounter several options for starting your trading journey.
Deriv Bot Dashboard Features
Upon entering the Deriv Bot Dashboard, you will see four primary options:
- Load Existing Strategies: Import strategies from “My Computer” or “Google Drive.”
- Quick Strategy: The fastest way to get a trading bot up and running using predefined strategy templates.
- Bot Builder: For advanced users, this allows for creating custom strategies from scratch.
Quick Strategy
The Quick Strategy feature breaks down each trading bot into two main components:
- Strategy Template: This determines how your bot will adjust the stake amount after each trade based on profitability.
- Examples of Strategy Templates include:
- Martingale: Doubles the stake after a loss to recoup expenses.
- D’Alembert: Adjusts the stake according to a set unit, increasing it after a loss and decreasing it after a win.
- Oscar’s Grind: Focuses on capturing small and consistent profits.
- Reverse Martingale: Increases the stake after a win and decreases it after a loss to maximize winning streaks.
- 1-3-2-6: Follows a fixed staking pattern after consecutive wins.
- Martingale: Doubles the stake after a loss to recoup expenses.
- Examples of Strategy Templates include:
- Trade Parameters: These parameters specify the asset to be traded, trade type, purchase conditions, initial stake, duration, profit threshold, and loss threshold.
Setting Up Your Strategy
After selecting your strategy template and filling in the required trade parameters, simply click “Run” to launch your bot. Make sure to practice any strategy on a demo account first to refine your approach and build confidence.
Using the Bot Builder
For those interested in customizing their strategies further, the Bot Builder offers advanced features:
- Workspace (Canvas): This is where you drag and drop blocks to create specific functions for your bot.
- Blocks Menu: Categorized into trade parameters, purchase conditions, sell conditions, and restart trading conditions. Each block has specific instructions that guide how the bot operates.
Examples of Block Functions
- Trade Parameters: Define what market to trade, contract types, and stake amounts.
- Purchase Conditions: Specify when the bot should enter trades based on your criteria.
- Sell Conditions: Instruct how the bot should behave while the trade is active.
- Restart Trading Conditions: Set up what happens after the end of a contract before starting a new one.
Conclusion
With Deriv Bot, you have a powerful tool at your fingertips for creating automated trading strategies that suit your trading style and preferences. By utilizing the Quick Strategy and the Bot Builder, you can establish a systematic approach to trading within the Deriv platform.
Remember to practice thoroughly on a demo account to ensure you understand the intricacies of your chosen strategies before transitioning to live trading. In our next lesson, we will explore executing trading strategies on Deriv's synthetic offerings using options. Thank you for joining this lesson, and happy trading!
Quiz
What is the main advantage of using Deriv Bot?
What does the Martingale strategy involve?
Which feature allows for advanced customization of trading strategies in Deriv Bot?
Trade with confidence
