Cryptohopper New Features and How to Use Them Plus Other Tips & Tricks
- Life Zoltar
- Jul 22, 2018
- 4 min read
For more information on this topic and the content below, check out the video I did HERE.
The below are some new features that Cryptohopper has added over the past few weeks. Know that some of these features are still in Beta. To enable the Beta mode of your hopper please reference the instructions under the title 'Ability to Short your Bags'.
Individual Trailing Stop Targets per Coin
You can now set individual trailing stop targets for each of your individual positions that overwrite the general config. You can click on info next to each open position and then get a pop-up. Under the settings tab you can see the config for trailing stop-loss but also stop-loss and auto-close position.
Ability to Short your Bags
You can now sort your negative open positions...awesome!!
This feature is still in Beta so to enable it you first must activate the Beta features by doing the below…
Once you activated Beta, click Save. You now have access to the new features.
Start by clicking on info on the position you want to short to get the popup window below.
Click on Short position to short the coin. Use this if you don’t wanna sell your coin because you want to hold it or you just don’t want to sell at a loss but you expect the coin to drop further in price in the short term you can short it with this feature.
It works by simply selling your coin at the current price and buying it back at a lower price to where you can set a percentage. Also, you don’t have to keep track of prices yourself but you can let the bot do it for you.
The feature works on the assumption that you plan to hold the position/coin but you are expecting a drop in price. Doing so will sell the coin into your base currency which will then list under the “Short Positions” tab. So if the position drops and you’ve set your percentage to buy it back around that price, CH will buy that same amount again but for less money. Now the gain is yours to keep (gain from original amount). How this works with the bot is similar to averaging down to get the coin at a lower price then selling it and buying it back at a higher price.
The great thing about this new feature is that you are no longer lowering your base-currency like you would with the DCA feature. You in-turn would now be increasing your base-currency to where this would be a better way to eliminate your bags when working with a small or fixed amount of base-currency. If the coin decides to go up instead of down you can simply remove the short position then to free your base-currency that was held for it.
Reserved Funds
You can move positions or base currency into the reserved funds tab. This will prevent your hopper from interacting with these funds until you either release the position, or you move it to open positions.
You can move a position directly into the reserved funds tab by selecting a position using the Info button and pressing ''reserve funds''. Alternatively, you can reserve existing positions on the exchange or base currency using the ''reserve funds'' button on the reserved funds tab.
Release
The release button will free up the funds from your reserved positions. If this is your base currency, it can now be used to open new positions again. If this is another coin, it will be available to be synchronized again using the synchronize tool. This does not turn the funds into a position, for this you can use the ''move to positions'' button.
Move to positions
This button will return these funds as a position, tracking the percentage profit reached. It is not possible to move base currency to open positions, as you use the base currency to open positions.
Some examples on how you can use the reserved funds tab:
Move positions here that you want to hold long-term.
Move bags in here so they don't clog up your open positions list.
Store and accumulate coins here if your exchange pays out on your account (for example, you can earn GAS by holding NEO).
Store some USD/USDT here in case of a crash.
Reserve some of your base currency here for when you want to DCA out of bad positions
Keep a percentage of your base currency to ''free up'' when you think it is a good moment to enter the market.
Cryptohopper Tips
How to choose the best coins for your Bunny or Hare CH subscription using this webpage:
As I mentioned many times before, the bot works best during a bull (up-trending) market. It is possible to scalp (set profit to a fixed 1% or less) in bear markets but be careful and limit your number of open positions. This is especially true when using a highly volatile base-currency such as BTC. It is very hard to trade with the bot when a base-currency such as BTC is declining. It’s best to wait until BTC settles or returns bullish. Most of us disable our buying all together during these times and wait for an improvement before turning it back on.
If you’re not familiar with Cryptohopper, checkout a write-up I did on it HERE. Also, if you want an in-depth user manual on how to setup and configure the Cryptohopper bot, I’ve written a 40-page user manual you can download HERE.
Comentários