In CryptoHero, multiple trades are consolidated as Deals. Each deal contains orders based on the trade signals generated by Entry Conditions, Stoploss, Take Profit. Deals execute orders in that same order of priority. Whichever comes first will be executed first.
When a bot has yet to receive a signal generated by the Entry Conditions configured by you, it will be in “waiting for entry” status. At this point, you may delete or pause the bot without any issues since no orders have been made.
When the crypto trading bot finally receives the first signal to trade, a Deal will be created and can be found in the Open Deals section. The bot’s status will then show ”In Progress” and the deal’s status will show “Deal in progress”.
At this stage, the first order and any subsequent orders (if applicable) is executed. The number of the subsequent orders is determined by the Extra Orders parameter set by the user, and the prices are determined by the Entry Conditions. Once a deal is running, users will be able to see the equity positions based on live data.
When a deal remains open, users can choose to liquidate a deal. This means that the bot is instructed to ignore the exit conditions and execute a sell order. Once the user liquidates a deal, the bot will go back to the “waiting for entry” state. From here on, the crypto trading bot will place a base order once the entry conditions have been met.
It’s like resetting the process all over again. If the user chooses to not liquidate a deal, the bot will carry on with its job as usual until the profit or loss reaches a percentage of the allocated fund.
This percentage is determined by the Take Profit for profit-based exit condition and Stop Loss for loss-based exit condition. If the percentage is met, the crypto trading bot will automatically close a deal. In order to stop a bot from running, the user will have to turn it off. Once the crypto trading bot is set to inactive, the deal will halt as well.
At this point, the crypto trading bot will not respond to any trade signals. All trade signals will resume once the bot is reactivated again. Once it’s set to active again, the bot will start a new order based on the next trade signal.
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