Sat Oct 07 2023
Automating your cryptocurrency trading strategy with a crypto trading bot can give you a significant edge in the market. Here's a quick guide on how to configure and run a Binance trading bot on Aesir.
Running an algo crypto trading bot on Binance has never been easier. There are numerous tools out there that will allow you to easily perform Algorithmic trading and automate your strategies. What makes Aesir different is that unlike other tools, Aesir lets you create, test and run your crypto trading bots on multiple exchanges with a single click.
Here’s how to start running a Binance crypto trading bot in just a few easy steps:
Aesir’s Binance Trading Bot, initially recognized for its volatility trading prowess, has evolved into a versatile trading tool, capable of executing a variety of trading strategies on the Binance platform and it’s also available on Binance, Binance US, Binance Pro, and more exchanges to be added soon! Whether you are a day trader looking for short-term gains or an investor with a long-term perspective, Aesir allows you to build and automate robust trading strategies with minimal effort.
Before you let the bot take the wheel, it’s essential to set up a strategy. Aesir’s interface allows for detailed customization. You can define how much to spend per trade, the maximum number of open orders, and outline your exit strategies. These parameters provide a framework within which the bot operates, allowing it to act as an extension of your trading philosophy.
To get started create an account and navigate to Create New Strategy page. Toggle the complex builder on for more sophisticated strategies, or work with the default DCA-only mode. With the complex builder enabled, you will see more configuration options for your crypto trading bot. Hover over each tooltip to see exactly what each property does.
Starting with a defined strategy is crucial. Observing its performance and adjusting the settings in real-time enhances the bot’s effectiveness over time, making it a powerful ally in crypto trading.
Note: For security purposes it’s strongly advised to only give your API Key the permissions that it will require. Aesir will NOT ask for access to Withdraw or Deposit funds on your behalf so keep these options disabled.
If everything looks good, click Generate Key. Note that you will only be able to see the private key once so make a note of it when it’s first presented to you, otherwise you will need to repeat the process.
After obtaining the key, integrate it into your Aesir profile by selecting Add Exchange, choosing Binance, and entering the required information.
In order to use your new Binance API key simply navigate to to My Strategies on the Aesir app and click Start on a crypto trading bot that you wish to run. You’ll see a modal asking you to select an API Key to run it on. The great thing about the way our algorithmic crypto trading bots are built is that they are completely credential agnostic. Any crypto trading bot you build can be ran on any exchange that we support, with a single click.
Aesir not only provides a platform for automated trading but also offers features crucial for risk mitigation, like the customizable Trailing Stop Loss. This dynamic feature adjusts your stop loss levels as asset prices fluctuate, providing a safety net for your investments.
Aesir has a unique approach to creating logic for your crypto trading bot. We call it “Logic Layers”. They act as standalone instructions that tell the bot when to place an order, based on indicators, volatility, or other signals. They are “Layers” because you can stack multiple bits of logic on top of one another, creating truly unique signals that no other algorithmic crypto trading platform will allow to create.