Coygo Bots: A New Generation of Crypto Day Trading Bots
Over the last two years we’ve rebuilt our cryptocurrency trading bot platform given all of the amazing feedback from our beta users. I’m happy to announce that today we’ve officially launched Coygo Bots 2.0! Now available within Coygo Terminal, our crypto trading terminal software that works with most major exchanges.
At the heart of Coygo Bots 2.0 is two major changes:
The experience and interface for configuring and running a trading bot has been vastly improved with a focus on increasing transparency of what bots are doing and keeping track of balance changes/profit over time
The “Bots Home” screen
When signing into Coygo Terminal you will now be greeted with a brand new screen called Bots Home. This serves as your home base for everything related to trading bots and provides an explanation of the various features and screens available to you.
Coygo Bots Home page
The “My Bots” screen
My Bots is where you can create new trading bots and see a list of any that you’ve already created. You can think of a Bot as a piece of software that will automate trading on your behalf given a set of rules that you provide to it. Each Bot has a “Configure” button which allows you to view and edit that Bot’s configuration as well as a “Run” button which allows you to run the Bot and view information about the previous times it was run.
The My Bots screen
The “My Strategies” screen
My Strategies lets you browse and search each Bot Strategy that is available to you. Every Bot that you create uses a Strategy to define that Bot’s behavior. For example you may have one Strategy for swing trading and two Bots that use that Strategy, one that trades on Coinbase Pro and another that trades on Kraken.
The My Strategies screen
Coygo Bots comes with a number of pre-built Bot Strategies for you to explore, such as:
Triangular arbitrage: 1 exchange, 6 paths — Scans and reacts to triangular arbitrage opportunities across 6 different order paths. Create your own in our guide: Create a “Triangular Arbitrage” Crypto Bot With Coygo
Inter-exchange arbitrage: 2 exchanges, 5 pairs, no transfers — Scans and reacts to inter-exchange arbitrage spreads between two exchanges without relying on transfers. Create your own in our guide: Make an “Inter-Exchange Arbitrage” Crypto Bot with Coygo
Spot grid swing trader — Uses the popular “grid” swing trading strategy. Create your own in our guide: Create a “Grid Trading” Crypto Trading Bot With Coygo
Drop hunter — Buy when the price drops a certain % within three intervals.
Simple market maker — Attempts to profit off of the bid-ask spread by constantly opening orders near the latest ask & bid.
Static midpoint swing trading — Attempts to profit from volatility by constantly buying and selling around a static midpoint.
Trade when Relative Strength Index (RSI) is overbought/oversold — Trade using the RSI indicator.
Trade Moving Average Convergence Divergenge (MACD) crossovers — Trade using the MACD indicator.
Simple arbitrage between two exchanges with limit orders — Simple inter-exchange arbitrage between two exchanges.
We know that writing code is hard, especially when learning it as a new skill, and we also know that trading bots in general are necessarily complex. In order to help you learn and become a master at coding your own custom crypto trading bots in Coygo Forge we have just launched a new community on reddit! See it here: /r/CoygoForge.
In this new community you can ask questions for coding help, discuss different trading bot strategy ideas, and get answer from other traders or the Coygo team themselves. We hope to see you there! Together we can all excel at creating our own crypto trading bot strategies for day trading.
Learn more in our clog post: Get help coding crypto trading bots in our subreddit
We are working on a community marketplace integrated directly into Coygo Bots that will allow you to:
Browse Bot Strategies that others have shared with the community.
Publish & share your own Bot Strategies that you’ve built with Coygo Forge.
Learn from and collaborate with other traders, analysts and developers.
Improved interface when running a Bot
We have also completely overhauled the interface when running a Bot to provide better transparency about what a Bot is doing and help keep track of a Bot’s balances/profits over time.
Improved experience when running a Bot
You’ll see the page divided into a number of different sections:
Activity Log — The Activity Log provides detailed information about what the Bot is doing during each interval. This helps explain exactly what a Bot is doing at any given time and can provide more context as things such as why an order was submitted or cancelled.
Balances — Here you can view the current balances of the Bot, the balances before the Bot started to help show change over time, the “Total $ Change” which shows how much the overall USD value of your wallets has changed since the Bot began running, and the “Hodl $ Change” which tells you how much the USD value of your wallets would be if you had simply held and not run the Bot.
Market Feeds — Any order books or market data feeds that your Bot has access to will be displayed here.
Bot Orders — This will display any orders that this Bot has submitted so far with detailed information about each.
Why use Coygo Bots?
Coygo Bots is designed to excel at automating trading strategies that focus on real-time data and short intervals such as arbitrage or scalping.
Code your own Bot Strategy with Coygo Forge
A number of example Bot Strategies are included to demonstrate how to use Coygo Forge with their code fully open source.
Access a number of pre-built Bot Strategies
Coygo Bots comes with a number of pre-built Bot Strategies that your trading bots can use. These include grid trading, swing trading, triangular arbitrage, market making, and more…or code your own strategy with Coygo Forge!
Paper Trading with Test Mode
If you don’t want to test a Bot with your real money or crypto you can run your Bot in Test Mode. This will simulate all order submissions, fills and cancellations so that the Bot doesn’t use any real crypto balances. This helps to provide an estimate of how the Bot would operate when given real money and not run in Test Mode.
Real-time data & millisecond intervals
Coygo Bots can trade on millisecond or second intervals with access to real-time order books and OHLCV feeds.
Your machine is connected directly to each exchange for real-time data feeds. Coygo’s servers do not act as a middleman.
Coygo Bots run entirely on your machine, not our servers. Your exchange account credentials (API keys) are encrypted and never leave your machine. Coygo’s servers do not have access to your accounts.
All Bot Strategies work on all exchanges
Use the same automated trading strategy on any supported exchange or trade pair. For example, if you find a swing trading strategy that works for you then you can use that exact same bot on Coinbase Pro, Kraken, Geminin, or any other supported exchange and it can use the BTC-USD trade pair, ETH-BTC trade pair, or any other that you may be interested in!
Use a powerful configuration interface to tweak your bots and find what works for you.
What are the limitations of Coygo Bots?
Because Coygo Bots is built for automating day trading strategies it may not be the right choice for you depending on your trading needs.
Limited to trading on shorter intervals (5 minutes or less)
Coygo Bots is designed to excel at trading on second or millisecond intervals using real-time data. If you want to run a trading bot that operates on 1 hour or 1 day intervals Coygo Bots may not be the best solution for you.
Requires your computer to remain on while a Bot is running
Coygo Bots runs entirely on your machine and not our servers. This is for security reasons so that our servers never have access to your exchange accounts, as well as for performance reasons so that your trading bots can access fully real-time data directly from exchanges. Because of this your computer must remain on while Coygo Bots are running. If you want to run a trading bot for a week straight Coygo Bots may not be the best solution for you.
No margin trading support
Coygo operates within the United States and unfortunately here in the U.S. there is little to no legal and compliant support for margin trading with crypto. When major U.S. exchanges offer support for margin trading we will be happy to reconsider this.
Live paper trading, no backtesting support
Many trading bot platforms offer backtesting to test how a strategy would have performs over a previous span of time. Due to Coygo Bots and Coygo Terminal’s focus on real-time day trading strategies that operate on millisecond or second intervals, Coygo Bots offers simulated “paper trading” in real-time but not using historical data.
Try Coygo Bots for free!
You can try Coygo Bots for free today by signing up for any of our subscription plans and starting your free trial. We would love to know what you think! As Coygo Bots is currently in beta we sincerely appreciate your feedback.