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cryptohopper-review

Cryptohopper – Ultimate Review and Guide

Cryptohopper, the ultimate review you need to read! Today we will focus on a number of important topics, in which you will learn more about trading cryptocurrency (crypto trading), but also about crypto trading bots, Cryptohopper and what is involved in trading cryptocurrencies. An article suitable for the absolute beginner, but also for the more experienced traders among us.

The automation is important, also for crypto trading . Because let’s be honest: everyone who starts trading crypto, does that because he or she wants to make a profit. Want to get rich. Filthy rich! A different villa for every day of the week. Or a different color BMW M8 Competition (yes, the one at €220,000 each) for every working day. Making money is always the goal of trading.

So getting rich is of course wonderful. But you know what’s even more beautiful? Exactly: get rich while sleeping! And to become rich while sleeping (or sleeping poor) you can use a crypto trading bot, such as Cryptohopper. Cryptohopper can easily be set up on the most used cryptocurrency exchanges, so that you can coordinate everything from one platform.

As mentioned, today we will review everything, but really EVERYTHING, that Cryptohopper has to offer in this extensive and ultimate review and manual.

Are you ready? Then we’ll jump right into everything you can and want to learn about this world-class cryptocurrency trading bot: Cryptohopper!

What are Crypto Trading Bots?

Before we start throwing crazy terms, let’s first lay a decent foundation. Because the world of crypto trading is as extensive as it is special. The industry is getting bigger and bigger and more and more people are stepping into a certain level or platform to start trading cryptocurrencies themselves. It therefore does not hurt to first take a look at what a Crypto trading bot actually is. And what you can do with it. And above all: why you would want one!

A Crypto Trading Bot is therefore a piece of software that can help you to make transactions in an automated way. Or (and then we really start with the terminology) to take or close a position. In other words: to buy or sell cryptocurrencies. The primary function of a Crypto Trading Bot is to unburden you and to be active at times when you would not be able to do so yourself.

The good news is: a Crypto Trading Bot does not have to sleep, eat, go to the toilet or take care of crying children. A Crypto Trading Bot is available to you every day, all day, 24/7 non-stop. Cool huh?!

cryptohopper

It is important to realize that a Crypto Trading Bot does not possess any supernatural powers or prediction models that will make you filthy rich. A trading bot works on the basis of a number of parameters – which you set personally – and with which it will automatically start trading. If you set the right parameters, you can become very rich with this. If you set the wrong parameters, you can see your hard-earned savings evaporate at the same rate. Caution is and remains therefore advised!

Yet you can certainly use an extensive amount of strategies, signals and templates from the Cryptohopper marketplace. We will of course come back to this in detail later. First, let’s take a look at why you should go for Cryptohopper as a crypto trading bot in the first place.

Why Cryptohopper is the best choice

CryptoHopper is one of the most famous Crypto Trading Bots on the market. We can tell you all about CryptoHopper in two minutes (and we will), but we will first start with a video of CryptoHopper itself. So watch the video below in two minutes before you read on.

Cryptohopper brings a lot of advantages. Of course, it ensures that you can use (partially) automatic trading. But the platform offers so much more! We will of course list the most important selling points for you.

But be sure to keep room in your head for the rest of the article. In it we show what cool features Cryptohopper has to offer for both the advanced or advanced and the experts in the field of cryptocurrency trading.

Works from the cloud

One of the advantages of CryptoHopper is that it is not a piece of software that requires you to install a software program on your laptop or computer. That would mean that every time you want to make a change in your trading strategy, you have to go home or open your laptop.

In contrast, CryptoHopper is built as a cloud application. This allows you to access your CryptoHopper bot from anywhere in the world with a working internet connection and activate the changes immediately. So you don’t miss any major opportunities because you are stuck in traffic , but you can access your own bot from anywhere with a desktop, laptop, mobile phone or tablet. Very handy!

This gives CryptoHopper an unprecedented uptime, which means that the bot is practically always online. This gives a very safe and calm feeling, which you don’t have to worry about. Furthermore, the bot has a very easy interface, so you can have it online and working with just a few clicks and settings.

The different packages

The fact that CryptoHopper is immensely popular is apparent from the already 180,000 users that the bot has currently collected. CryptoHopper currently offers four different packages. We briefly list them, including the monthly price for the subscription.

(Here comes the price list)

Cryptohopper Marketplace

When you have made a choice whether you go for a free or paid package from Cryptohopper, you also have to make another choice that is about money. Namely whether you want to use the extensive offer in the Marketplace of Cryptohopper.

Just imagine your favorite game where you can make in-game purchases. An extra strong weapon, an outfit that is totally awesome, vanity items or whatever else you can buy. Cryptohopper Marketplace is something like that. Does that mean you can’t really do anything with it? No, on the contrary.

In the trading world, this functionality is also called Mirror Trading. In other words: you mirror the trades or the strategy of others. That can of course turn out fantastic, but also a lot less fortunate. As always, the better the trader you mirror, the greater your own level of success will be. And vice versa, of course, that if you imitate someone who jumps into a ditch, you will end up in the ditch yourself.

In the Cryptohopper Marketplace you will see that a categorization between the following three options has been used:

  • Templates
  • Strategies
  • signals

As befits a Marketplace, you have the choice between free and paid options. However, it should be noted that a paid strategy is not by definition more successful than a free strategy. Or that you will have more luck with a paid template than with a free template.

That said, let’s take a look at what’s out there for sale. Later we will come back in detail to how you can set things up after the purchase!

Templates

Essentially, a template is a pre-configured trader. As you may know, the Hopper is packed with features, switches, and sliders. For many of the new users, all these settings can be a bit overwhelming, which is why Cryptohopper has introduced the templates.

With a marketplace template you get a fully configured hopper. All you have to do is enter your API keys.

See a template that you like? Then check on the left side whether the template in question is compatible with the cryptocurrency exchange on which you are active. You can of course also make it easy for yourself by selecting the right exchange(s) in the filter options on the left.

You also have the option to filter by base currency, free or paid templates and you can choose whether you want to filter by popularity or another approach. As you can see: Cryptohopper likes to make it as easy as possible for its customers. Because crypto trading is already difficult enough.

Strategies

Are you not yet extremely adept at technical analysis? Then strategies might be for you. Technical analysis is in short the analysis of the historical price and based on several trading indicators determine what the trend is. In addition, a technical analysis is also used to determine suitable buying and selling moments.

Because trading based on the signal of a single trading indicator is usually risky, the more experienced traders use a combination of trading indicators. You can also call this combination a trading strategy. And it is exactly these strategies that are offered by Cryptohopper in their marketplace.

The most important question, of course, is which of these strategies suits you best. Ultimately, the answer will mainly depend on you. The strategies are different and will not be equally successful for every trader. This is mainly due to the fact that one trader trades much more intensively than a trader who holds certain positions for a longer period of time.

So if you are looking for a strategy that suits you, be sure to read the strategist’s page. The strategist is the person who has devised the strategy for you from A to Z. It is often described in detail what the underlying idea of ​​the strategy is and for what type of traders it is designed.

signals

Do you want to experience the joys of trading, but rather not the burdens? Then the signals in the Cryptohopper Marketplace are definitely something for you. Do not confuse the term signals with the term ‘signals’, because many think that with Signals you get a signal that you have to buy or sell something, but nothing could be further from the truth.

Signals is the complete outsourcing of your trading activities to a reputable trader. This trader also controls your portfolio from his own trades at the same time. Does he make money? Then you also earn money. Is he losing money? Then the same logically also applies to you. Signals is therefore the purest and purest form of Mirror Trading, because you literally make the same trades as another trader.

Just like with the strategies, the most important question is of course which trader will bring you that Lamborghini. Or with which trader you are going to bring in that fourteenth villa on a snow-white beach. Here too, you can read extensively on the pages of the traders what exactly characterizes the different traders and how they have performed in the past. You will immediately get an indication of what such a trader can do for you.

Keep in mind: results achieved in the past are no guarantee for the future. But yes, that also applies when you start working as a trader yourself. Especially if you do not (yet) have that much knowledge of trading cryptocurrencies. Then a little help is a welcome bonus.

But first, let’s take a brief look at how to connect your Cryptohopper bot to your favorite cryptocurrency exchange(s)!

Link Cryptohopper to your favorite exchange

So many people, so many wishes. Not every trader trades through the same cryptocurrency exchange. Some traders use more than one trading platform. It is currently possible to link Cryptohopper to the following crypto exchanges:

  • bitpanda
  • Binance
  • Binance US
  • Bitfinex
  • Bittrex
  • bitvavo
  • Coinbase Pro
  • HitBTC
  • Huobic
  • crack
  • kucoin
  • OKEx
  • Poloniex

Depending on which exchange is your favorite, the way of setting it also differs. At least, the actual steps you will go through to find out your API. On the Cryptohopper side, it is more or less the same every time. So we can be pretty brief about it.

Linking your CryptoHopper trading bot to a cryptocurrency exchange is completed in eight smooth steps. In general, this should not take you more than five minutes. And who knows, with our guidance you will get it done even faster!

Step 1: Open your CryptoHopper account and search for the word “config” in the menu on the left. Click on this and then choose “base config”. Then click on Exchange. You will then arrive at the following screen:

Step 2: Move the slider at ‘Paper trading’ to the left, this disables the functionality.

Step 3: Select your exchange. Leave the ‘Load API keys from hopper’ field unchanged.

Step 4: Go to the exchange of your choice and log in to your account. Then request a new API.

Step 5: Fill in the requested information. Leave IP Whitelist empty and choose the options ‘a’ and ‘b’, so that CryptoHopper can view data on your exchange, but also buy and sell.

Step 6: Enter your 2FA code and click on confirm.

Step 7: Your API key and API secret key will be shown and you need to activate these via a confirmation email. You do this by clicking the activation link in your email.

Step 8: Enter the API key and API secret key on your CryptoHopper account.

FINISHED!

Depending on the exchange of your choice, you can click on the appropriate link below for more information.

  • Link your Cryptohopper bot with Bitpanda
  • Link your Cryptohopper bot with Binance
  • Link your Cryptohopper bot with Binance US
  • Connect your Cryptohopper bot with Bitfinex
  • Connect your Cryptohopper bot with Bittrex
  • Connect your Cryptohopper bot with Bitvavo
  • Connect your Cryptohopper bot with Coinbase Pro
  • Link your Cryptohopper bot with HitBTC
  • Pair your Cryptohopper bot with Huobi
  • Pair your Cryptohopper bot with Kraken
  • Link your Cryptohopper bot with Kucoin
  • Connect your Cryptohopper bot with OKEx
  • Connect your Cryptohopper bot with Poloniex

How do you set up your Cryptohopper bot?

Now that you’re fully aware of how to link your Cryptopopper bot to your favorite exchange, it’s time for the basics. For the sake of convenience, we will assume that you are not yet using the templates, strategies and signals from the Cryptohopper Marketplace, but that we will simply walk through the basic settings.

The basic settings have everything to do with the purchase settings (buy settings) and the sales settings (sell settings). By now it should be clear that your Cryptohopper bot will buy and sell your crypto for you according to a certain strategy, without having to spend any more energy on it.

But when does Cryptohopper buy or sell a crypto? That is entirely up to you. And you determine that entirely yourself via the Buy settings or the Sell settings. We will go through the different settings with you.

Buy Settings

The settings you give to your CryptoHopper friend to buy or sell will of course largely determine how successful you will be with your trades. If you put the settings completely wrong, your bot will act accordingly and take or sell positions at the wrong times (or with the wrong settings). It is therefore important that the settings are correct. With good standing we mean that you understand what is meant by an institution and that you know what you want your bot to do. Let’s take a look at the overview first!

Cryptohopper buy settings

Percentage of Lower Bid

With this functionality you can enter a percentage below the current market price, for which you want to buy a crypto. Logically, this usually only works in a declining market. In later settings, make sure that you increase the time in which a position remains open, if you want to use this functionality. Do not you want that? Then simply enter ‘0’.

Max open time buy

Here you enter the number of minutes that an order must remain open before it is cancelled. During this period, CryptoHopper will try to buy a position on the terms you set.

Max open positions

The number of positions that can be open at the same time. The maximum of this depends strongly on the chosen subscription.

Enable cooldown

With this functionality you are basically telling CryptoHopper not to do anything after a position has been bought or sold (or one of the two). This prevents many trades from being executed in a short period of time, which reduces the effectiveness, but you run the risk of not being able to respond to sudden market forces.

Sell ​​Settings

Via Sell Settings you can do the same type of settings as via Buy Settings, but for your sales process. We will immediately add the overview!

Take profit at

Here you enter what percentage you are happy with your profit and would like CryptoHopper to sell your position. It is important that you do not set this too high (because then your position will almost never be sold) nor too low (because then the trading costs for buying and selling could be more expensive than your actual profit). It often takes some practice and experience to set this percentage correctly.

Max open time sell

The sales counterpart of ‘Max open time buy’. In other words: how long does a position remain open to sell before it is automatically cancelled.

Percentage higher ask

Are you not easily satisfied and do you want to get the most out of it? Then you can use Percentage higher ask to ensure that your position is offered for an X percentage above the lowest selling price. This can of course lead to your positions being sold less often or less quickly. When you decide to use this strategy, it is often accompanied by a longer ‘max open time sell’ to provide sufficient opportunity to get these positions sold.

Advanced Cryptohopper functionalities

Now that you’ve mastered the basics, it’s time to take a closer look at some of the more advanced features of the hopper. That of course makes this ultimate review and manual the ultimate review and manual it is. We just go a few steps further than the basics.

We will cover the following topics:

  • stop loss
  • Trailing stop loss
  • Trailing stop buy
  • car close
  • shorting
  • dollar cost averaging
  • config pool
  • Deploying marketplace strategies
  • Using marketplace templates
  • Using marketplace signals

As you can see, the aforementioned Marketplace topics are also extensively discussed here. Mirror trading is therefore within reach. But first: Stop loss!

stop loss

The stop-loss is unfortunately not an instrument to make a profit, but to prevent further losses. It may feel counter-intuitive to use it, but it’s essential for a trader! For example, if 60% of your buys are positive and 40% negative, your stop loss will help filter out the bad buys. If you don’t use a stop loss, you will end up with a deep loss because you should have sold earlier.

Enable Stop Loss

Do you want to use a stop-loss on all your positions? First step: enable stop-loss orders. Your coins will then be sold at a loss if they fall below the configured percentage. Again, it doesn’t feel good to sell at a loss, but sometimes it’s better to pull the emergency brake than crash into something at full throttle and lose everything. A good trader is not the trader who never loses, but the trader who knows how to profit across the board.

Stop loss percentage

Now it’s time to think about how much a position needs to fall before your stop-loss needs to be triggered. Enter as a positive number. For example, if you want to sell your crypto when the price is below -2.5%, enter 2.5 here.

It sometimes happens that people have the feeling that their Stop-Loss has not been activated properly. The stop-loss sticks to your basic configuration. Decide whether you want to use market or limit orders for your stop-loss. A limit order will not always be filled if the price falls too quickly. You can adjust this under Sell Settings . A market order always sells, at the most favorable price at that moment. These costs in terms of trading costs always more than a limit order.

Trailing stop loss

Well, this might be Cryptohopper’s hottest option. Why? Because a static stop-loss always remains at the amount you enter based on the knowledge of that moment, but a trailing stop-loss also adjusts further upwards as the market develops positively.

The Trailing Stop-Loss automatically adjusts your stop-loss when the price rises. Whenever the price drops again, your TSL (Trailing Stop-Loss) is activated and your position is sold. This is an ideal way to track an uptrend and avoid selling too early. At the same time, a TSL also ensures that in the event of a fall in the price, you do not stay in your position for too long, so that you see your hard-earned profit evaporate again.

This image gives you a little idea of ​​how the Trailing Stop-Loss works in practice.

Let’s take a look at the possible settings of Trailing Stop-Loss (TSL):

Enable Trailing Stop Loss

Enable the enable button via the ‘Sell settings’ menu to activate the TSL on new trades.

Trailing Stop-Loss Percentage

Your Hopper will try to sell if your price unexpectedly falls by this percentage. It will continue to track the price until the percentage you have set falls, after which your Cryptohopper will sell the position.

Activate TSL at

It may be that you do not want Cryptohopper to activate the TSL immediately from the moment the position is taken, but that you first want to cover the transaction costs. Say you configure 1%, your TSL will turn on when your position reaches the gain of 1%, then it will be sold when it falls as much as you configured in the Trailing stop-loss percentage.

Only use Trailing Stop-Loss

This feature is made for those who think this tool is so brilliant that you just want to use the TSL. When enabled, the Take Profit is disabled and only the trailing stop-loss is used to sell a position. So you stay in your position until your Trailing Stop-Loss is activated after a fall in the price.

Reset Stop-Loss after failed sell orders

When enabled, the trailing stop-loss will be reset after a trailing stop-loss sell order is canceled. Orders can be canceled if they are not filled and they are open longer than you configured in the Max Open Time Sell , in your sales settings. You can also enable Market Orders if you don’t want orders to fail. However, as indicated earlier, this is often more expensive.

Only sell at a profit

If enabled, this option will check if the position is sold for a profit when trailing stop-loss is triggered. If trailing stop-loss were to sell a position at a loss, the sell order will not be placed.

When using TSL, make sure you set a high Take Profit or only enable Trailing Stop-Loss. The Hopper will always sell, depending on what it is allowed to sell first.

Trailing Stop Buy

Trailing Stop-Buy allows you to set a minimum amount of growth that an individual crypto must grow before your Hopper places a buy order. So if a coin is on the decline and there is a sign of reversal, your Hopper will continue to ignore this reversal until it reaches the necessary minimum growth rate, as determined by your TSB percentage.

In this way you can ensure that your TSB only buys a crypto when it has reached its hypothetical low, so that you can buy very cheaply before the market shows a positive correction.

Unlike Trailing Stop-Loss (TSL), you don’t have to enter an ‘arm percentage’, that’s when the trailing stop is activated. This is because your TSB will start when your Hopper wants to open a buy order due to your strategy or manual purchases (not with signals). TSB can be used to help you determine how much a crypto needs to grow in price before your Cryptohopper trading bot considers it a worthwhile investment rather than a temporary reversal coin.

Configuring your Trailing Stop-Buy (TSB) is easy. You have two configurable fields. The Enable button and the Trailing stop-buy percentage.

The Trailing stop-buy percentage determines how much the price has to rise again before your TSB is activated and your bot can open an actual buy order.

Car Close

You may want to automatically close (sell) positions after a certain amount of time. This is often used by traders and miners, who want to synchronize positions and automatically exchange them for another (stable) currency. Often to be able to buy them again later from a renewed capital. The Auto close was created for this purpose.

There are two simple options: you can enable it and decide how long it takes for your positions to be closed (sold).

Be careful when you enable this, all your positions will be sold after the time you set. Even if they are at a loss. Selling positions manually yourself is often an option that takes a little more time, but it does prevent you from selling loss-making positions. Unless you think that is a wiser choice based on your risk profile.

shorting

In contrast to the Auto Close, Shorting is a part where you have to pay attention. There are quite a few settings and it all works slightly differently than ‘traditional shortening’. So pay close attention to this section if you are interested in shorting. Let’s first look at the various menu settings that can be configured and then we’ll look at what ‘shortening’ actually is.

In short. Shorting is a way of making a loss-making position profitable. You can do this with the Shorting and Trailing Stop-Short functions. It is a very interesting feature for traders looking for an alternative to their traditional stop-loss.

Shorting is the trading strategy where profits are made while the price of a crypto is falling. You usually work with derivatives of crypto where you earn from a correct prediction, instead of physically in possession of the crypto itself. For shorting via Cryptohopper, the situation is slightly different.

That way of shorting is a bit different from “traditional” shorting. The Cryptohopper shorting is more of a buyback feature. When you expect a position to suffer a greater loss, you start a short and your bot will sell the position. When you think the price has bottomed out, consolidate (end) your short position and immediately buy the position back.

So how do you configure Shorting? And what if you want to start using Trailing Stop-Short (TSS)?

Take a seat, here we go! We’ll go through all the settings for Shorting, so you know what they mean and what you can do with them.

Reset position after closed

Enabling this will reset the win rate of your position to 0% after the short is closed and the position is bought back.

Reset position after short

When enabled, the open position will be restored to its original settings when a short position is closed and the position is reopened. For example, consider the Stop-Loss and Trailing Stop-Loss settings. This means you always keep your settings, even in new positions.

Automatic shorting

This allows your Hopper to automatically open short positions. Ideal if you want to replace the Stop-Loss with shorting.

max. open short positions

The maximum number of open short positions that your Cryptohopper bot is allowed to have. The more short positions open, the longer it will take for your bot to check these positions.

Open short based on strategy

When enabled, short positions will be opened when your strategy signals a sell. This takes precedence over the setting: sell with strategy. Configure your strategy in the “Strategy” section.

Close short based on strategy

When enabled, short positions will be closed when your strategy indicates a buy. Configure your strategy in the “Strategy” section.

Always short instead of sell

When enabled, short positions will be opened when an open position is sold with: profit, autoclose, stop-loss or trailing stop-loss. This could be an ideal strategy for avoiding losses and making a quicker profit when you buy back.

Shorting percentage profit

Enter the win percentage you want to make on each short position. Whenever a short position moves above this percentage, the short position is closed.

Remember: You don’t actually make any profit with Shorting, as it is a buyback tool. The “win rate” refers to the losses you have avoided. For example, if the price drops 10% when you start your short, your short will show a 10% win rate. Basically that means you saved yourself a 10% loss.

Use actual profit

When enabled, the actual profit calculation is used for calculating the percentage profit and for the trailing stop-short.

This means that your short calculates the win percentage compared to the purchase price, rather than how much loss you saved by going short.

Trailing Stop Short

The trailing stop short is also one of Cryptohopper’s most talked-about features! And this is how you enable the Trailing Stop-Short (TSS). You can automatically move with the TSS and have it follow the downtrend while automatically closing when the price starts to rise again.

Trailing Stop-Short percentage (only when Trailing Stop-Short is enabled)

Enter the Trailing Stop-Short percentage. For example 1.5 (%). If the crypto price then rises 1.5% (or more) when you actively short, the Trailing Stop-Short will take effect with this percentage and buy back your position. It’s like a reverse Trailing Stop-Loss. Pretty cool isn’t it?!

Arm trailing stop-short at (only when Trailing Stop-Short is enabled)

Enter the percentage you want the Trailing Stop-Short to start tracking. For example, start with 3 (%). This means that when the price falls by 3%, your TSS starts to short, effectively selling its positions and waiting to buy it back at a lower price.

 Use trailing stop-short only (only when Trailing Stop-Short is enabled)

If enabled, this will disable the take profit percentage and only use the Trailing Stop-Short to close a short position.

Auto-close shorts within time (only when Trailing Stop-Short is enabled)

When enabled, your trading bot will automatically close short positions after X times.

Close shorts after X time open (only when Trailing Stop-Short is enabled)

When enabled, short positions will be opened when your strategy signals a sell. This takes precedence over the setting: sell with strategy.

Conclusion

With this we have unfortunately come to the end of our ultimate review and guide about Cryptohopper. We hope you appreciate all the information and that it brought you what you hoped it would. In any case, we have tried to create a clear and transparent picture of the various possibilities and functions of the Cryptohopper platform.

Are you ready for a way to take your trades to the next level? Then Cryptohopper is definitely a method worth exploring. Not only do you enable yourself to oversee a wide playing field and to apply an equal or different strategy everywhere. But you are also ‘at work’ all day every day.

It is also important to realize that working with a crypto trading bot such as CryptoHopper can make your trading strategy infinitely easier. Not only do you have the luxury of trading while you sleep, but you also have the benefits of a bot that lacks human emotions, the well-known ‘Fear of Missing Out’ ( FOMO ) and is not distracted by a incoming WhatsApp message.

At the same time, the bot is just as good as you are in terms of trading. Without the right settings and skills, a bot is just as irretrievably lost as you would be if you were to manually execute all trades. A trading bot does not automatically make you a successful trader. It mainly ensures that the strategy you want to apply can run every hour of the day.

In addition to the core functionality of Cryptohopper, namely semi- or fully automatic trading of cryptocurrencies, the extensive options and additional functionalities are truly world-class. In that respect, Cryptohopper has a huge advantage over the direct competition. If you really want to get started with automated trading, then you simply cannot ignore Cryptohopper.

That said, the choice of whether you want to get into crypto trading, on which platform you want to do it and whether you want to do it with or without a crypto trading bot is of course entirely yours. If you give a resounding ‘YES’ to all three of these issues, it might not hurt to close with the expert video below about allegedly profitable settings at CryptoHopper. Keep in mind that this information is also subjective and that the settings of the video do not guarantee success.

Crypto Hopper, hop on already!

When enabled, the Cryptohopper trading bot will automatically remove short positions after X times.

Auto remove shorts within time (only when Trailing Stop-Short is enabled)

Select the time frame after you want short positions to be automatically removed.

Don’t buy back on loss

When enabled, short positions are removed instead of bought back when the signal comes to close the position and the short position has not made a profit.

Ignore max open positions

When enabled, the maximum number of open positions will be ignored when a short position is closed and bought back. Please note that this does not allow opening more short positions through automatic shorting, and is only about closing the already existing short positions.

Dollar Cost Averaging (DCA)

Another strategy that you can use is the Dollar Cost Averaging (DCA) strategy. This is a rather risky strategy by the way, so it is only recommended for the more experienced traders among us.

DCA or, Dollar Cost Averaging is a tool to get rid of loss-making positions or a brilliant tool to have a better purchase price over a longer period of time.

Beginners can use DCA to invest gradually over a longer period of time. For example, you invest $1,000 every 30 days for five months. If the prices at the end of each month were $100, $90, $80, $70, and $95, your average purchase price would be $85.50. If you had invested the full amount initially, you would have paid $100 per coin.

Others use DCA to average the buy price or are used as the Martingale technique, which you use when a position is deeply lost. The assumption is that a crypto price will eventually rise, so if you keep doubling your investment, your average buy price will be lower and you will be more likely to make a profit if the price rises again. You do need deep pockets for this technique, because you will have to double your investment every time.

For the various settings, take a look at the video or the extensive explanation of Cryptohopper itself. Since the risk is quite high for the DCA, we will restrict ourselves to its introduction.

config pool

Want to set a different strategy or buy or sell settings for a specific crypto? Create a configuration pool via the Config pool menu option. This overrides your Baseconfig for that specific coin or your general settings.

To create a new config pool, go to config and click on the “Config Pools” tab. You will see all your Config Pools. You can delete, modify, and activate or deactivate configuration pools. Click on the blue “Add Config Pool” button.

You can only create a configuration pool for one currency or multiple currencies.

If you have installed a template from the Marketplace, it can use configuration pools. Check them carefully so that you know which settings they use, and make sure you are not surprised if a stop-loss is activated from the config pool while you have it disabled in the base config.

Deploying marketplace strategies

Have you purchased a strategy from the Marketplace (for money or for free)? Then it would of course be nice if you then know where to activate it and how it works.

Once you have chosen your strategy and downloaded it, it is time to add the strategy to your Cryptohopper trading bot. To do that, navigate to your Cryptohoppers Baseconfig.

Once the configuration page loads, find the tab labeled Strategy and select the strategy you downloaded.

From now on you will trade on your new marketplace strategy! Don’t forget to save the configuration to apply the changes. Happy trading!

Using marketplace templates

Have you found a nice template that will help you make your trading life easier? Then you will of course also want to activate it after you have downloaded it. Just like activating a new strategy, activating a template is child’s play.

From the base config, find the actions button in the top right corner of your screen and select Load template .

If everything went well, you will be delighted with a pop -up screen. Click on the drop-down menu and select your downloaded template. After a small delay, the page will refresh and your brand new template will be loaded. On a roll!

Using marketplace signals

Last of the advanced Cryptohopper functionalities: setting the marketplace signals!

So you have chosen a trader that you like, you have subscribed to his signals. Very well! All you have to do is configure the signaller (the trader).

Navigate to your Signals tab (make sure you select the correct hopper first!). You get here via Config > Signals.

Select the trader you want to configure and click the configure button below their portrait.

After clicking configure, you will be greeted with a new screen. There are still some things that need to be set up. But don’t panic, we’ll help you through it calmly.

Let’s take a look at what these settings do and mean.

Pause signal : if you want to temporarily disable the trader, you can do it here!

Market order : a market order guarantees that your order will actually be filled. NOTE: Your order will be executed for the best possible price, but you will not have as much control over the purchase price as with a limit order.

Buy amount in BTC : if you set a buy amount, it limits how much the trader can spend per position. Very useful to prevent the trader from using your entire budget! Or more than you can lose.

Take profit at : If you want the trader to trade with a custom take profit that deviates from your normal trading setup, enter it here.

Percentage bid:   If you want the trader to bid slightly lower than the current price, you can set it here. Please note that this reduces the chance that your order will be executed.

Percentage ask : If you want the trader to ask a little more compared to the current price, you can set it here. Please note that this reduces the chance that your order will be executed.

Sell ​​signals : Not all traders send sell signals. If your trader does, you can enable this setting and allow the hopper to trade on your trader’s sell signals.

Signal configuration : A trader can send custom settings (withdraw profit, trailing stop loss and the like) with each signal. If you enable the trader’s configuration, your trading bot will adhere to these custom settings.

Allow all coins : This setting allows your crypto hopper to bypass the 75 coin limit and trade all the coins the exchange offers instead .

None of these settings are required for the trader to work. They are simply adjustments you can make to improve your trader’s performance.

Congratulations! All you need to do now is be patient.

Expert Cryptohopper functionalities

You can sincerely pat yourself on the back if you’ve made it to this point! Not only have you already devoured more than 6,000 words of specialist information, you have also taken in all the functionalities of Cryptohopper that belong to the basic and advanced settings.

However, this would not be an ultimate guide if we didn’t also take a look at the functionalities that have been created for experts. What do you think of functionalities such as backtesting? Or the reason people go to Cryptohopper in the first place: automatic trading.

In this section we briefly list the most specialist functionalities or features of Cryptohopper for you, so that you can complete the article fully informed. The proverbial last stretch, but how beautiful they are! Hang in there, here they come!

  • Automatic Trading
  • Portfolio Management
  • Mirror Trading
  • Trailing Features
  • Paper Trading
  • back testing
  • Strategy Designer
  • Algorithm Intelligence (AI)
  • Arbitration
  • Market-Making

The holy grail of trading, and probably the reason you’re here in the first place: automatic trading.

Automatic Trading

Auto trading is a revolutionary way of trading and it has not been available for retail traders for very long. There are several ways to start your auto trading adventure, each with their own difficulty. We cover the following automated trading methods: semi-automatic trading and fully automatic trading.

Semi-automatic trading

This approach to automated trading can be useful for those who are not ready to dive deep into the world of algorithms and algorithmic trading and for those who like to keep the buying decisions to themselves.

In semi-automatic trading, you are the one who opens trades, but use the Hopper to sell them automatically. This way you can do your own analysis of the price, but use Cryptohopper’s unique features to sell automatically.

Fully automatic trading

The real deal. We encourage this way of trading, but you need to understand how the Hopper scans the markets and how to use all the tools. We’ve covered the essential tools you can use when buying and selling in the Advanced Features section.

The biggest difference is that with fully automatic trading you literally put the Cryptohopper completely behind the buttons and that you yourself – until you deactivate the trading bot – have no intervention in the entire strategy and your buying and selling policy. So keep in mind that fully automatic trading is only for the very experienced trader!

Portfolio Management

Manage your entire portfolio with Cryptohopper, all from one place. This functionality is already included in the free Cryptohopper package. Very nice of course. A distinction is made between the ‘Simple’ view and the ‘Advanced’ view. Very briefly, the simple view gives a simple overview of your pending and closed positions and the status thereof.

The advanced variant immediately gives you several tools to adjust the bots, take or close positions, place DCA or Stop-loss and/or Stop-buy orders, et cetera. Let’s start with the simple view first.

Simple portfolio view

If you just want to keep track of what you already have, you really don’t have to do that much. Swap your hoppers to see all your positions. You can open the stats page to see how the Hopper you’re viewing is performing. Sell ​​positions directly from your dashboard as needed.

Advanced portfolio view

Open the Advanced View by clicking the Advanced View button at the top right of your dashboard.

This view offers everything your exchange has, but it makes it much easier to track your investments as your positions are also displayed. Easily place manual buy/sell orders and view the charts.

The advanced view even shows an order book where you can literally drag and drop orders. That’s very cool!

 

mirror trading

Of course already discussed in detail, but the whole essence of the external (Marketplace) Strategies and Signals really make Cryptohopper a unique concept. Nowhere else in the world can you go to one platform for both the input and the output, which actually completely relieves you as a trader.

Strategies

Are you not quite ready to let another trader get started with your hard-earned money? Then the concept of strategies is completely designed for you. Learn from the best traders in the world, while learning and staying at the controls.

signals

Do you want to hand over all the reins to another trader? Then you can subscribe via ‘Signals’ to an expert trader who uses your assets for trading based on his own strategy. Make sure, of course, that you assess the traders in question equally decently and extensively, before you blindly trust their abilities.

We recommend that you carefully investigate the following:

  • Does he (or she) send signals for your cryptocurrency exchange?
  • Does it send signals for your crypto pairing? (e.g. BTC/USD)
  • What is the overall performance? What is the average profit/loss?
  • Check the coins for which he is sending signals, then go to the configuration -> baseconfig -> coins and amounts and select the coins for which your trader is sending signals. Traders with a Hero subscription can select “Allow all coins” so that they automatically trade on every signal they receive.
  • Some traders offer their own templates. You can download and install this so that your Hopper is configured as your trader recommends.
  • Check that you have sufficient balance in your base currency (which is often BTC or USDT). You can check this in your configuration. Your crypto trading bot uses this base currency to buy other crypto.

Trailing features

We have of course already covered them individually, the trail stop-loss and the trail stop-buy. But since this functionality contributes so much to why automated trading is becoming so popular, we’ll also discuss the trailing features collectively.

The great thing about both trailing functions is that you don’t actually have to do anything for them. As the price develops further and further, the system automatically adjusts the values ​​for you to save the most money for you as a trader. Maximizing your profit has never been easier.

If you missed or skipped the videos, we strongly recommend that you still watch them. Prepare to be amazed!

 

Paper trading

Paper trading allows you to trade using real-life exchange data with simulated crypto. This way you experience the platform without taking any risk. It’s a well-known, tried and true way to practice trading without the associated risks.

With every paid subscription you get the opportunity to make one simulator (or paper trader). This makes it ideal for testing strategies on your simulator so that you can use successful strategies on your live Cryptohopper trading bot.

When you start your journey with Cryptohopper, you will be asked if you want to create a paper trading hopper. We always recommend linking your exchange account so that you get the most complete experience. And so you know for sure that the data matches your live account, making the value of your paper trading results even greater.

 

back testing

Backtesting can be read very literally, ie the ‘post-testing’ of data. Through the backtesting module, you can view the effect of the settings you applied in the Buy Settings and Sell Settings for various coins based on historical data.

Keep in mind that past results do not necessarily mean that you will be successful with this in the future. Conversely, if you might not have made so much profit with certain institutions in the past, it could be very different in the future.

Yet the data from backtesting does say something. You can at least run it a few times to analyze the different results. Later on, you always have the option to review old analyzes and come up with a new strategy.

Strategy Designer

A unique feature on Cryptohopper and essential for algorithmic traders is the Strategy Designer. This is the core of what algo traders want to automate: the Technical Analysis.

Traders scan the markets with crypto trading indicators that look at trends, volume, momentum and volatility. This can indicate how the markets will move.

Traders usually use tools like TradingView to analyze the markets. They select their favorite indicators to see what they predict. This is a very time consuming process and something any trader would want to automate. And with the help of the Strategy Designer you can.

Strategy Designer: the concept

The idea of ​​the Strategy Designer is that you choose indicators and candle patterns that your bot will use to scan the markets to determine whether it is time to buy or sell or not. After you create a strategy, you can test it to see if any adjustments are needed.

The success of your strategy is determined by the combination of crypto trading indicators and candle patterns, the chart period (candle size) you analyze and how “tight” you set it.

Be sure to check out these articles about trading based on technical analysis:

  • Relative Strength Index
  • Bollinger Bands
  • Ichimoku Cloud
  • MACD cross
  • Simple Moving Average
  • Exponential Moving Average
  • Fibonacci Indicator
  • Elliott Waves
  • Pivot Points
  • Technical analysis
  • Stochastic Oscillator

Strategy setting

Set your own strategy

The more indicators that have to be fulfilled at the same time, the fewer signals your strategy will give. After all, how often does it happen that, for example, six indicators are achieved at the same time? You can play around with the tightness by configuring a “keep signal ahead” when configuring your indicator so that it has a little more time to overlap with other indicators, or by playing with the minimum buy/sell signals.

However you set it up, creating your own trading strategy has never been easier.

Algorithm Intelligence (AI)

One of the most exciting developments in automated trading is Cryptohoppers Algorithm Intelligence, also known as AI. No, it’s not artificial intelligence (well, not yet. Who knows where the future will take them).

The way the AI ​​works is easy to explain, just compare it to an automatic backtester. You feed your AI with all possible strategies, it analyzes them all for you and chooses the one that is most successful in the current market. You don’t get any closer to a set-and-forget than this.

Crucial to creating a good AI are two things:

  • Have several accurate market trend analysis strategies for your AI to analyze about the trend of a market. Build them yourself or download them from the Marketplace.
  • Give it as many buy/sell signals strategies as possible.

Your AI assesses both market trend and signal strategies with an accuracy score. You can determine in your configuration how high the score on a signal must be before your Cryptohopper can follow it. Your Hopper automatically follows signals coming from the strategy with the highest accuracy. All you have to do is pick out a new color Lamborghini and wait.

Set up your own AI

Step 1: Create a new AI

Go to strategies -> and click on New AI . This already feels exciting, doesn’t it?

Step 2: Name and Save.

Give your AI a fancy name and save for the first time. Try to save often when you start working with your AI. This updates the checklist and ensures that you don’t lose your progress.

Step 3: Add trend strategies.

Add trend strategies for your AI to analyze in the market trend. This is important so that it knows if there is an uptrend, downtrend or if the market is going sideways. If you don’t have any strategies, create them in the Strategy Designer or download them from the marketplace. Click Save when you’re done.

Step 4: Add Signal Strategies.

Add signal strategies that look for buy and sell opportunities. This is ultimately why we want to deploy an AI in the first place! Click save.

Step 5: Configure your AI

Configure the AI ​​as a strategy in one or more hoppers, so that your Cryptohopper trading bot can search for buying / selling opportunities. You do this in your basic configuration -> Strategy -> Select your AI strategy.

Step 6: Adjust the AI ​​settings.

Configure your AI. Go to your AI, click on Config and change the settings. The settings are simple. Your bot gives a score between -1 and 1 to each buy or sell signal, the higher or lower this score, the stronger the buy or sell signal.

Step 7: Activate your AI bot.

Check if the AI ​​is scanning the markets. Go to Training , select the appropriate cryptocurrency exchange and trading pair (e.g. BTC/EUR) you want to analyze and click Learn . Your AI will start learning! It’s almost like raising a child.

Finally, repeat this process and train your AI for all the markets you have selected in your setup at Coins & † Amounts . These are the markets where your AI will train itself and your Cryptohopper will buy crypto for markets your AI is trained in.

Arbitration

Prices between exchanges and trading pairs may vary due to supply and demand. Take advantage of those price differences without having to withdraw your money from your exchange!

The arbitrage bot on Cryptohopper does not transfer money between different exchanges (as you would expect from Arbitrage). Therefore, Cryptohopper does not need permission through the API.

But if you don’t withdraw your money, how does it work?

To do exchange arbitration, you must own the coins for which you want arbitration. For example, let’s say your base currency is USD, and you’ve seen that ADA , ATOM and EOS normally offer arbitrage opportunities between certain exchanges. Then you need to have all these coins on two (or more) crypto exchanges on which you want to do arbitrage. Now you are ready to take advantage of price inefficiencies.

Let’s see how this mechanism works. Let’s imagine an arbitrage opportunity between USD (your base currency) and EOS (the currency that offers the arbitrage opportunity):

You own USD and EOS on exchanges A and B.

On exchange A, the price of EOS is 3.10 and on exchange B it is 3.02. Therefore, there is an arbitrage opportunity because EOS is more expensive on exchange A.

A manual arbitrage trade will consist of buying EOS on exchange B and selling it for a higher price on exchange A back to USD. Then your portfolio would result in a gain in USD.

An automated Cryptohopper arbitrage trade would do it differently but result in the same USD profit. Let’s not forget that you own USD and EOS on both exchanges. As we know, the goal is to keep the same amount of EOS while increasing your USD total amount.

For example, since you want to increase the amount of USD, you would sell 2000 (expensive) EOS on exchange A (for USD). At the same time, you would also buy 2000 EOS (cheap) on exchange B to keep the same amount of EOS you had before the trade. It may happen that one of your funds of a specific currency on one of your exchanges is exhausted, then you will need to manually move money from one exchange to another to start the process again.

While Arbitrage is usually more of a side hustle and rarely a way to really get rich, it certainly doesn’t hurt to watch the video below and see if Arbitrage is for you. Especially when you are active on multiple crypto exchanges.

Market-Maker

Hero subscription users have access to a very interesting feature. It is not necessarily a feature suitable for every trader. The job title is Market maker . But what is market making? Why would you want to use it? There are three main reasons:

  • If you are a trader and want to take advantage of a large spread.
  • If your project/coin does not have enough liquidity and your spread is too large.
  • If you are a starting cryptocurrency exchange and need liquidity.

The Market Maker bot provides liquidity to a market of your choice, or is a way to take advantage of a large spread. The spread is the difference between the highest bid and the lowest bid. Think of the markets as a real marketplace. The highest bid is the highest someone is willing to bid, the lowest bid is the lowest price someone is willing to sell their crypto at.

Illiquid markets have wide spreads, and market makers are the ones who place orders to diversify to take advantage of them, narrowing the spread and thereby creating liquidity.

The definition of a market maker: “A market maker must commit to continuously quote prices at which he will buy (or bid) and sell (or ask) assets. Market makers should also state the volume they want to trade in, and the frequency of time it will trade at best bid and best bid prices (BBO).

Market makers must adhere to these parameters at all times during any market outlook. When markets become erratic or volatile, market makers must remain disciplined to continue facilitating smooth trades. †

How does the Cryptohopper Market Maker bot work?

Cryptohopper’s Market Maker bot allows you to place tiered buy and sell orders, keeping the market liquid. Placing these orders changes the exchange’s order book, narrowing the spread and making the market liquid.

When you set up a Market-Maker, you need capital in your base currency and in the currency you want to make the market from. Your Market-Maker places orders around the spread, depending on your configuration.

Markets change quickly, so you need to be able to change your order price quickly. Click on the buy/sell boards to create an order, drag it to the desired place in the order book if things change.

Again: this functionality is definitely not for the novice and not even for the advanced trader. This is mainly reserved for parties who want to dominate the market, wholesalers and starting cryptocurrency exchanges. Nevertheless, the technology and operation behind it can indeed be interesting.

Certainly because it can quickly give you an insight into the various methods that (commercial or non-commercial) parties have for involving the market and taking advantage of it. Be sure to watch this closing video about how Cryptohoppers Market-Maker works for inspiration, so that you can put the finishing touches on your expertise knowledge about Cryptohopper.

Conclusion

With this we have unfortunately come to the end of our ultimate review and guide about Cryptohopper. We hope you appreciate all the information and that it brought you what you hoped it would. In any case, we have tried to create a clear and transparent picture of the various possibilities and functions of the Cryptohopper platform.

Are you ready for a way to take your trades to the next level? Then Cryptohopper is definitely a method worth exploring. Not only do you enable yourself to oversee a wide playing field and to apply an equal or different strategy everywhere. But you are also ‘at work’ all day every day.

It is also important to realize that working with a crypto trading bot such as CryptoHopper can make your trading strategy infinitely easier. Not only do you have the luxury of trading while you sleep, but you also have the benefits of a bot that lacks human emotions, the well-known ‘Fear of Missing Out’ ( FOMO ) and is not distracted by a incoming WhatsApp message.

At the same time, the bot is just as good as you are in terms of trading. Without the right settings and skills, a bot is just as irretrievably lost as you would be if you were to manually execute all trades. A trading bot does not automatically make you a successful trader. It mainly ensures that the strategy you want to apply can run every hour of the day.

In addition to the core functionality of Cryptohopper, namely semi- or fully automatic trading of cryptocurrencies, the extensive options and additional functionalities are truly world-class. In that respect, Cryptohopper has a huge advantage over the direct competition. If you really want to get started with automated trading, then you simply cannot ignore Cryptohopper.

That said, the choice of whether you want to get into crypto trading, on which platform you want to do it and whether you want to do it with or without a crypto trading bot is of course entirely yours. If you give a resounding ‘YES’ to all three of these issues, it might not hurt to close with the expert video below about allegedly profitable settings at CryptoHopper. Keep in mind that this information is also subjective and that the settings of the video do not guarantee success.

Crypto Hopper, hop on already!

 

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