Sunday , November 17 2019
Menu
Home / Tools / How to Set Up Your Own COSS Trading Bot

How to Set Up Your Own COSS Trading Bot

This guide will show you the quickest way to get started with automated trading using a free bot built by Spielley. The bot uses a simple trading strategy of buy COSS, then sell it for higher.

Using the COSS-ETH pair (although you can define your own pair), the bot will buy COSS at the current market price and then set an order to sell higher depending on the profit level you specify. This strategy is best for people looking to accumulate COSS and don’t mind holding it.

Install the COSS Accumulation Bot Using Heroku

The simplest way to get your bot up and running is to install it via Heroku. Head to the GitHub page where you can download the bot or install via Heroku.

Once on the GitHub page, scroll to the bottom and look for Installation of basic bot (spielley) and click the purple ‘Deploy to Heroku’ button on GitHub.

Click on the purple Deploy to Heroku button on GitHub to get started

Customise the Bot on Heroku

You will need to create a free Heroku account to continue. The next page you see should look the screenshot below. You will need to create a unique name for your app.

Custom Setting Guide

  • App Name – Must be unique
  • Region – Any preferred
  • Average_down_level – Ignore for this bot
  • Averaged_lots – Ignore for this bot
  • Averaged_price – Ignore for this bot
  • Bot_strategy – BASIC
  • Coin_to_check _wallet – ETH (Or you could select any other COSS pair you prefer e.g. BTC)
  • Dont_trade_under – Set your preference, this bot will consume all your ETH if you let it. This value stops the bot from created new orders when it is reached.
  • Interval – How often the bot will run in seconds. Avoid going too low as this will cause your account to become restricted due to overloading the API
  • Private_API_key – Your secret key (see below)
  • Profit_level – This is the percentage profit the bot will sell your COSS at after purchasing. It will create a limit order e.g. 0.25% higher than your buy price. Around 0.25 is a good level, too high and your orders will not sell, too low and you have to factor in that your fees might negate any profit.
  • Public_API_key – Your public key (see below)
  • Trading_pair – COSS_ETH, unless you want to run this bot strategy on another COSS pair e.g. COSS_BTC.
  • Trading_size – How many COSS are purchased each interval (that you set above). Please take into account the minimum purchase amount of COSS is currently around 40 COSS, so you should set your value higher than this.

Getting Your Public and Secret API Keys

First log in to COSS.io and then head to the ‘API management’ page under ‘Services’.

Type a name for your API key (it can be anything) in the ‘Name of Key’ box and click ‘Create New Key’ – you will need to enter your 2FA and confirm via email. Once you receive the confirmation email, you will be redirected to a screen like above. This will show you your public key and secret key.

These will only be shown once, so copy them down and do not navigate away from this page until you are ready!

Deploying Your Bot

Once you’ve filled out all the variables as shown above, you can click deploy and the bot will begin to run.

You can see your bot in action by checking out your open orders on the COSS.io exchange page. You should see a buy every few seconds/minutes, depending on what you specified for an amount of COSS that you specified during setup. The bot will then move these buy orders, to sell orders for a percentage profit that you specified too.

Should you need to make any changes to your bot, or shut it down for good, head to the Heroku settings page for your ‘app’. To stop or delete the bot for good, scroll to the bottom for the delete option.

To make any changes, e.g. the pair, profit %, lot size or interval, click the ‘Reveal config vars’ button by the Config Vars heading. You can then edit each variable that you specified during setup.

About James

Editor at COSS.news. COSS holder, CFT holder and CELT holder. I'm covering the latest news on the COSS exchange as well as updates from community projects, competitors and cryptocurrency exchanges. Have you registered on COSS yet?

Check Also

COSS FSA Snippet

Analyse Your FSA with COSS-FSA

Julian, the creator of COSS-FSA has developed a tool to help you analyse your Fee …

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Want to be paid to trade?Negative maker fees now available on COSS

Register an account with COSS and start getting paid to trade with the best fees available in crypto. All this on top of a 25% discount on fees and 50% fee share for COS token holders.

Register Now
Share via
Copy link
Powered by Social Snap