Automated Trading Overview

Basic Concepts

A quick introduction to automated trading at Alertatron, along with a video guide to getting started...

How does it work?

  1. Your Trading Strategy Produces Signals.
    Most of our customers are using TradingView to run their trading strategy. This consists of indicators on their charts that trigger alerts at key moments, like Buy, Take Profit, etc.
  2. Send Alerts to Alertatron.
    The alerts from TradingView (or anywhere actually) are sent to Alertatron. Learn how to do this...
  3. Orders executed on Exchange.
    Special commands in the alert message are seen by the automated trading bot, and the trades are automatically executed.

That's it really. 👍

What do the 'special commands' look like?

Like this...

MyKeys(XBTUSD) { market(side=buy, amount=100); }


But what does it mean....?

Let's break it down.

Part What it is for?
MyKeys The name of the API keys you'd like to use. You can add API keys for several exchanges and accounts. Each set of keys is given a unique name that you use in the commands so our bot knows where to trade for you.
XBTUSD The symbol on the exchange you'd like to trade. Looks like we're trading BitMEX XBT Perps here...
{ ... } Everything inside the curly brackets are the actual commands we'd like to execute on the exchange. In this example there is only one command, but there could be more. The command in this example will place a market buy order, to buy 100 contracts of XBTUSD.
#bot In the default setup, this is needed to route this alert to the trading bot. You can configure this by editing the 'Trading Bot' group settings.

Inside those curly brackets we can have as many commands as we like. The full list of available commands can be see to the side (at the bottom of the page on Mobile).

Each command is executed in turn and converted into actions on the exchange. So the market() command results in a market order being placed.

Here's a quick start video...

Command Values

Each command can be passed some values to change how it behaves, that are placed inside the brackets. This helps us keep track of which values belong to which command and keep everything neat and tidy. Each of the possible values are explained in the documentation for that command.

For a market order, we need to choose if we are buying or selling, and how much we want to buy/sell. Our example at the start used 2 values to specify exactly this information. side=buy told the market order that we want to buy. amount=100 told it how much to buy. As we are trading on BitMEX XBTUSD in this example, 100 would mean 100 contracts (the unit used for that symbol on that exchange). 100 contracts is basically $100 worth.

So, market(side=buy, amount=100); tells the bot to execute a market buy of 100 contracts.

As soon as it is done, it will move on to the next command inside the curly brackets. Our example only had one command, so it's done and the bot will disconnect from the exchange and wait for another message to come in.

Chaining commands

Need to do more than place a single order. You can chain a series of orders in a single block to create more complex effect. For example...

WhichKeys(XBTUSD) { 
  scaled(side=buy, amount=500, from=5, to=100, orderCount=20);

This one is a little more complicated than before. First, there is a cancel command. The arguments for the command tells it to cancel all open orders on the XBTUSD market on the exchange.

Once that is done, it moves on to the next command, which places a scaled order of 20 limit orders, over a range from $5 to $100 from the current price. (from and to are treated as an offset from the current price. Other options are supported, like the offset being relative to your average entry, or using a percentage offset - see the documentation for all the options)

There are a great many different commands available that the automated trading bot can execute for you. Take some time to have a look through the available commands and some of the examples available to see the kind of things that are possible.

It is also a good idea to start out using one of the supported testnet exchanges, such as Deribit and BitMEX, that allow you trade without risking real money.

Some images from Unsplash


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