Two features every crypto trading bot should have

I’ve been working on an algo trading platform alongside a small team of developers for about 3 years now. I’m incredibly excited to say that we released Aesir in May last year and we’ve been working on expanding the application and incorporating user feedback into our app.

Being a small and agile team means that you’re in the unique position to actually listen to what your users have to say about your software, and have direct 1-to-1 discussions with these users.

During some of these conversations — which normally take place on Discord — we came across a fantastic bit of feedback from some of our users, in relation to the exit strategy.

If you don’t know what that means, an exit strategy is how you or your trading bot will be exiting the market. An exit strategy should limit your losses and be able to cash out at a profit — that’s why setting a Stop Loss and Take Profit is a crucial part of any trading strategy.

On Aesir we wanted to offer more than just the regular Take Profit and Stop Loss. That’s why we’ve originally built Trailing Stop Loss and Trailing Take Profit. These work by following the price at a +-% around it, like a pincer. So long as the price increases, the position stays open, allowing to maximize profits.

These were already built in, and the feedback we received was more to do with how to handle scenarios where the exit strategy is not met.

Whether it’s due to low volatility or momentum, it’s possible for neither the TP and SL to be reached for a significant amount of time. Depending on the indicators and analysis that you have done, some of these orders will have become stale — meaning they no longer follow your projected trajectory and the set-up has lost its efficiency.

Here are the two features we’ve built to help traders manage stale positions, and how they work.

Stale Asset Selloff

The first feature we’ve added is simply called Stale Asset Selloff. It allows you select a time limit that when reached, the trading bot will automatically sell stale assets.

We’ve added the stale asset selloff to the Advanced Exit, meaning that it will work in combination with your Trailing Stop…