You entered all the required information in the trading bot settings and once the configuration is complete, all you have to do is press the “Start” button to launch what you hope will be a series of successful trades. It is a moment in time when all traders may experience a feeling of doubt and hesitation.
Crypto trading and the highly volatile nature of the crypto markets require mastering so many variables!
Will price action reflect recent performance? Will recent gains continue or will a correction start?
Chances are that the exact same market conditions will not occur again, so risk management measures need to be implemented. With the assistance of the “Back Test” feature, traders can analyze how various trading bot customization parameters are most likely to affect the results and performance of trades. With multiple safety orders, the bots can survive drawdowns and still secure profits.
How does it work?
1. You customize your bot as usual:
2. Then click the "Start Back Test" button
3. The Back Test Feature will show the following results:
From the displayed information we can estimate the following:
Efficiency of bot use;
Resistance to price hikes against the direction of price action;
The closing time of transactions with certain settings;
Will a Stop Loss be beneficial or not?
How many of the trades could be negative? Change the bot configuration to minimize such trades.