When checking the bots' results, it is important to receive as much information as possible from a single page so you don't need to go into deep details if you need to make a quick decision. Understanding what each data represents is essential to track your bots' performance fast.
The part we will be looking into are tabs of your active and closed bots. Please, follow along with the article and you will learn more on how to use this data to your advantage.
See the current Value of your active bot
The Value of the bot helps to understand where most of the funds are currently allocated. This data consists of the current value of your funds (base currency + quote currency in open orders) and generated profit.
Value = (Base currency x current price) + Quote currency + Bot Profit
The result is converted into the selected system currency of your account (aka Default currency). This will allow you to sort your bots based on invested and received value, so you can quickly see where most of your funds are currently allocated.
Understand how your initial Investment has been changed
The Change data shows how the value of the funds used to create a bot has been changed over time. We compare the initial investment against funds that are currently used in open orders (both sell and buy orders) and the accumulated profit of this bot.
There are two main events that will have a direct impact on the final outcome of the active bot:
The generated bot profit.
The price change of the base currency.
While the bot profit will be generated from the continuous buy and sell orders, the effect of the price change is coming from the market itself. The Change provides information on how your Investment would be changed if you decide to close the bot right now and sell the base currency at the market price.
📝 Note: Bitsgap trading bots are able to provide a guaranteed order execution based on the selected parameters which allow generating profit from the trading activity. However, the market volatility and price changes may have a major influence on the final results as we apply the current rate for the base currency used in open orders and include it in the Change value.
See the most productive bot, and monitor your earnings
The Bot profit column shows accumulated earnings per bot that are already added to the available balance, which is coming from the execution of buy and sell orders.
The bot profit percentage (%) is calculated based on your initial Investment allocated to the bot. This way you can sort and analyze your bots by their real performance rather than volumes.
Get more insights into the time-based performance
Another way to measure your bot performance and understand the average daily results is to take the bot's trading time (length) and compare it with the earnings from the Bot profit.
This will provide you with more information about what is the average daily results you are receiving by having this bot active. It can be also compared with other bots, however, the bots that have been launched recently will have better results because the trading time is shorter. The best practice will be to compare bots that have the same trading time or close.
Check the grid count and how many trades have already been completed
The frequency of trading might be vital to the success so it is a good idea to track the number of transactions was completed.
The frequency of trading will dictate how often a profit is generated and how many trading fees are paid:
Increasing your frequency (increasing the number of grids) will generate profit faster but using lower volume. In the long run, the exchange fee may accumulate a significant cost. High-frequency trading is an amazing tool to increase your trading volumes (to reach a particular VIP status on the exchange) and also if you are into the scalping strategy.
Decreasing your frequency (decreasing the number of grids) will slow down the pace at which profit is generated but increase the volume per order, which in some cases can provide better results (high-volatile markets), the exchange fee will be significantly lower in comparison to the high-frequency trading.
Check the Status of your active bots and react to changes
The Status column indicates the current state of the bot and extra options that were activated. If something needs your attention, then the status will be changed from Active to something else.
Here is the list of possible bot statuses and how to resolve them in order to continue trading.
Bot is active.
All is good 😉
Bot is out of range.
Protection against quick price pumps or dumps is active. This status appears only if you have TD or T enabled.
Wait until the momentum is finished, the bot will automatically move the grid up or down.
An issue with the API key on the exchange side or exchange is unresponsive.
Extra options allowing you to secure your earnings or prevent losses such as Trailing Up, Trailing Down, Stop-Loss, Take Profit. If used, they will be added to the Status column as separate tags for each of your bots.
[SL] - Stop Loss enabled
[TP] - Take Profit enabled
[T] - Trailing Up enabled
[TD] - Trailing Down enabled
Receive results across all active bots
The top header displays the summary of the active bots against the combined initial investment. This data helps to understand the overall performance of all bots in regards to the generated profit, value change (P&L), and the value of funds used by the bot service.
Here is the list of all global reports that can be used to see how the activity of active trading bots influencing your trading account:
Sum. value - The summary of the Value column, in other words, how much funds are used by all bots at this present time.
Sum. bot profit - The summary of all the profit that is generated by all active bots. This profit is already added to your available balance.
Sum. total P&L - The overall difference between Initial Investment and the Current funds across all bots. This data shows how the accumulated bot profit and value of your base currency in open orders can change your account balance if you decide to close all your bots and sell all the base currency that is used in open orders.