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How to Day Trade Cryptocurrency: The Best Strategies for Beginners

how to day trade cryptocurrency

How do you begin day trading crypto?

It is an exciting time of growth in the cryptocurrency industry, as day by day Bitcoin, Ethereum, and other cryptocurrencies prove to be more than just a passing fad and major financial institutions like JP Morgan recognize the importance of blockchain technology. However, the most activity in the crypto sphere continues to be on the ground, where early adopters and shrewd investors have made fortunes in the years since Bitcoin first entered the scene. Naturally, some interested in getting into the action have wondered: can you day trade Bitcoin and other cryptocurrencies? Well, the answer is yes, and it is easier than ever before, despite requiring some basic knowledge and continual research.

It’s no secret that cryptocurrencies have experienced volatile price swings over the past several years, with Bitcoin alone surging from $2,900 on September 12, 2017 to a high of $19,783 on December 17, 2017 before falling gradually to somewhere in the single-digit thousands for much of the time since. This price volatility makes day trading cryptocurrencies a potentially lucrative endeavor. However, with upside also comes risk, so it’s important to know at least the basics about the platforms and day trading strategies that are widely practiced before jumping in.

What is Day Trading?

As the name suggests, day trading involves buying and selling financial assets throughout the day in pursuit of profit opportunities. This may involve trading the same security multiple times within a single day and requires a different array of strategies than more traditional long-term buy-and-hold investing.

Day trading gained prominence and largely became possible for most people with the advent of internet brokers, as otherwise only those working for large financial institutions were able to execute trades. As highly liquid digital assets, cryptocurrencies are particularly well suited for day trading.

It’s quite simple to start day trading cryptocurrency, too, as long as you know how to get started. To that end, we hope this guide will equip even complete beginners with the knowledge of platforms and strategies that are commonly used to conduct day trading in the cryptocurrency space.

Technical vs. Fundamental Analysis

Before providing an overview of some of the major types of day traders, it is helpful to first discuss the difference between technical analysis and fundamental analysis.

Technical analysis refers to trading assets based upon price forecasts generated from analyzing historical market data. There are a wide array of strategies pursued under the banner of technical analysis based upon different signals that are put in place to direct a trader to buy or sell a given asset, a number of which will be detailed throughout this guide.

Fundamental analysis, meanwhile, involves close review of financial statements in order to construct price ratios and determine the appropriate valuation of a business. Traders employing fundamental analysis will usually look at some combination of dividends paid, cash flow, earnings, and current share price.

Day traders naturally favor technical analysis, as it is far more amenable to forming narratives used to predict and act upon intraday price swings. As a result, much of the discussion in this guide will largely fall under the general banner of technical analysis. However, it is common for day traders to employ both technical and fundamental analysis as deemed appropriate. For example, investing in a particular cryptocurrency based on the team behind it would fall under fundamental analysis. On the other hand, selecting a cryptocurrency to day trade on the basis of past price movements is an example of technical analysis.

With that brief overview of technical and fundamental analysis out of the way, let’s now turn to some of the most common types of day traders in the cryptocurrency market today.

Types of Day Traders

Although every day trader is unique, those day trading cryptocurrencies can largely fall into two non-exclusive categories: technical traders and speculators.

Technical Traders

While it is possible to trade shares of publicly listed crypto companies, fundamental analysis does not lend itself towards day trading individual cryptocurrencies. Instead, day trading based on technical indicators is ubiquitous in the cryptocurrency market. Technical traders use the aforementioned technical analysis to quickly enter and exit positions in select cryptocurrencies.

The range of technical indicators to follow is virtually limitless, bound only by the data available and a trader’s imagination. Nearly all day traders engage in technical analysis of some kind, as the motivation to buy or sell a given asset requires some kind of signal to help decide whether to buy or sell.

Speculators

Contrary to their negative reputation in the popular press, day traders who primarily engage in what can be considered speculation fulfill an important function in the market. Alert to news that may signal whether a particular cryptocurrency will be more or less desired in the market, speculators try to get ahead of the crowd and capitalize on expected price movements. In the case of a correct prediction, the speculator is rewarded with profits for moving the price of the coin closer to its correct market value. On the other hand, an incorrect forecast will result in losses, providing a valuable signal to other traders.

Speculators are distinguished from technical traders by the fact that, at least in their capacity as pure speculators, they are only focused on how unanticipated news will immediately affect a cryptocurrency’s price. Only the next price move from the present baseline matters to a pure speculator, not historical data or complicated charting patterns. Of course, many technical traders can also engage in speculation, and vice versa, but speculation is usually regarded as a different game than technical or fundamental analysis.

How to Day Trade Cryptocurrency

With those preliminary definitions out of the way, let’s now get into the nitty gritty of what a beginner looking to day trade cryptocurrencies should consider.

1. Pick a Cryptocurrency and an Exchange

With well over one thousand cryptocurrencies in existence, it’s important to narrow down which cryptocurrencies you want to trade. CoinMarketCap is a good resource to find up-to-date information about the cryptocurrencies with the highest price, market capitalization, 24 hour volume, and daily price change.

Next, budding crypto day traders will need to identify which exchange is best suited to transaction their cryptocurrencies of choice. Cryptocurrency exchanges vary in terms of cryptocurrency offerings and fee structures and so it pays to take the time to research carefully early in this process. It should also be noted that it is not necessary to stay limited to a single exchange, as one can use an automated trading bot like setting up our crypto arbitrage bot to trade cryptocurrency across multiple exchanges.

2. Plan and execute a trading strategy

This step is where the most successful day traders separate themselves from the pack. There are too many strategies for day trading crypto to make an exhaustive list, but later in this article we provide an overview of some of the best strategies for beginners to try when just starting out. Nevertheless, finding a good strategy that brings in consistent profits requires a lot of dedicated research time. But hey, if it was too easy, everyone would be doing it, right?

Since day trading involves buying and selling the same asset in short succession, cryptocurrency arbitrage is naturally appealing to cryptocurrency day traders. Arbitrage generally involves identifying price discrepancies in the market and buying and selling in quick succession to take advantage of these differences. However, arbitrage trading is limited to available opportunities and often yields very small profits per trade, making it just one of many potential day trading strategies to pursue.

3. … Profit (?)

Despite the many complicated techniques and strategies possible when day trading, buying low, selling high, and pocketing (or reinvesting) the difference is the name of the game. The best strategies will pay out profits, but no strategy is immune from the possibility of loss. What each individual day trader chooses to do with their gains is up to them, whether it may be reinvesting into more trading opportunities or taking some money out of the market for consumption of tangible items.

With that broad overview of crypto day trading out of the way, let’s now turn to some specific strategies crypto day traders employ.

Best Crypto Day Trading Strategies

Look for Scalping Opportunities

Scalping refers to the frequent buying and selling of an asset to profit off of minuscule price changes. While any given transaction will generate only a small profit, the sum of all transactions in a day will ideally be significant. The emergence of supercomputers in past decades has made high-frequency trading a common example of scaling in traditional securities markets.

When dealing with cryptocurrency trading, scalpers attempt to profit by buying at a certain price and selling as soon as possible at some higher price, even if just barely so. Since scalping relies on collecting many small profits throughout the day, it is very important to avoid big losses, as a single loss could easily wipe out hours or even days of profits. A safe way to engage in scalping is to use an automated bot like our Scalper Bot, which can be programmed to quickly transact small amounts of crypto and book profits as the opportunities appear.

Pursue Pattern Trading

Also known as switch trading or inversion, pattern trading utilizes technical indicators to produce buy or sell signals. Of course, these signals do not guarantee that buying or selling the cryptocurrency under consideration is a good idea, merely that the conditions specified in the trading strategy have been reached.

As a time-honored part of technical analysis, price patterns come in many different shapes and sizes. At a basic level, “uptrends” indicate that prices have been moving higher over a certain period of time, while “downtrends” indicate the opposite. A “sideways” market occurs when the price of an asset oscillates back and forth between two parallel trend lines. Other patterns appear in a price chart in the shape of “triangles,” “pennants,” “flags,” “wedges,” and so on. There have been far too many different technical indicators and price patterns identified and developed over the years to list, so those interested should do some research into different patterns and find one to try. The HaasOnline trading platform features native integration with a number of technical indicators that can be used for cryptocurrency day trading.

Put Stop Loss and Limit Sell Orders in Place

Often regarded as one of the most important pieces of advice to any day trader, using stop loss orders make sure that a trade is exited once the price of an asset reaches a certain level. This can prevent catastrophic losses in the case of huge price declines. For example, if you buy $5,000 in BTC, it is possible to set a stop loss at $4,000, meaning that the BTC will be sold if its value falls below $4,000.

A limit sell order can be combined with a stop loss, but is intended to activate once an asset reaches a certain price higher than the purchase price. Then, the limit sell order kicks in, selling the asset and booking the profits. In the reverse of the same example as before, imagine once again purchasing $4,000 worth of BTC but placing a limit sell order at $5,000. If the value of the purchased BTC reaches $5,000, the limi sell order will kick into gear and sell the BTC for $1,000 in profits.

Stop loss and limit sell orders are often available on major exchanges, such as Coinbase and Binance. Furthermore, the HaasOnline trading platform features proprietary safeties that activate whenever predefined market movements occur, among which stop loss and limit sell orders can easily be constructed.

Let Trading Bots Do the Work

After deciding which cryptocurrencies to transact and which trading strategies to follow, all that’s left to do is to hit the market and put those strategies to work. Manually watching market signals and executing trade orders is cumbersome, however, and will likely prove too unwieldy even for relatively simple day trading strategies. That’s where automated trading bots come in.

Algorithmic cryptocurrency trading uses computers to execute trades according to a program defined in advance. In that way, these “trading bots” can run with trading strategies without needing continual human intervention. The HaasOnline trading platform features a number of such trading bots, all of which allow cryptocurrency day traders to stack technical indicators, safeties, and insurances to create an individualized automated trading strategy. While algorithmic trading with automated trading bots is useful for anyone interested in buying and selling cryptocurrencies, they are especially useful for day traders.

Let’s look at a few examples. First, the Trend Lines Bot allows traders to set buy and sell lines which the bot will use to execute trades whenever those lines have been breached. Beginner day traders may especially benefit from using the Standard Trade Bot, which provides an intuitive interface through which to compile a strategy using various indicators and safeties. Finally, the Market Making Bot can create two limit orders for a given cryptocurrency at certain percentages away from the current price.

Algorithmic trading bots are a powerful tool in the hands of a cryptocurrency day trader. However, it is important to keep in mind that the bots will simply do what they are programmed to do. It takes careful research and programming to set up a strategy for the bots to follow that avoids major losses and takes advantage of profit opportunities as they come along.

Risks of Day Trading

While day trading can seem like an alluring way to earn consistent income, its risks must be acknowledged. Just as one can profit from price movements, one can also suffer losses when prices move in unanticipated ways. While risk can never be eliminated, certain strategies can limit downside potential.

Cryptocurrency day traders operating on margin are especially susceptible to price swings, as trading on margin involves borrowing funds from a broker or exchange to amplify the total amount of a given position. While trading on margin can create the possibility for outsized gains relative to some fixed level of capital, it also increases the chance for loss if the market moves in the other direction.

Day Trading Cryptocurrency Taxes

Knowing how to pay taxes on cryptocurrency can seem daunting to a beginner day trader, as the tax treatment of cryptocurrency is often unclear and varies by jurisdiction.

In the case of the United States, bitcoin and other cryptocurrencies are treated as property, like stocks and real estate. Therefore, cryptocurrencies are subject to capital gains taxation like any other investment vehicle. What you have to pay will depend upon how long you held the taxable asset, as long-term investments of over one year are subject to different capital gains taxation rates than short-term investments.

Long-term capital gains tax rates are usually lower than those applied to short-term transactions, but the exact difference will depend upon each individual’s situation. Thus, day traders usually, though not always, face higher tax rates than long-term buy-and-hold investors.

We highly recommend that cryptocurrency day traders keep detailed records and consult a tax professional when filing taxes. This makes it possible for another trusted set of eyes to check if everything is documented properly and goes far in preventing any major issues with the IRS in the future. Cryptocurrency day traders using HaasOnline’s cryptocurrency trading software will be able to find records of gains and losses on every trade, which can prove invaluable around tax season.

Tips for Cryptocurrency Day Trading

Below are some tips to keep in mind when getting started day trading cryptocurrencies.

  • Limit losses and practice, practice, practice

There are no sure bets in day trading, but it is possible to limit losses with the right strategies, such as the aforementioned stop loss orders. Once you have a basic strategy running, there is no substitute for thoughtful tinkering and continued practice.

  • Focus on the fundamentals

It is usually better to narrow in on a small selection of cryptocurrencies, exchanges and strategies at first. Then, with a working strategy in place, branching out incrementally is easier than jumping in head-first from the beginning.

  • Stay aware of psychology

Ever heard of FOMO? Fear of missing out on a big price rally can cause panic and deviation from a tried-and-true trading strategy. Keeping emotions in check in a turbulent market environment is a hallmark characteristic of a veteran trader.

Frequently Asked Questions (FAQ)

What is the best cryptocurrency to day trade?

A cryptocurrency can be particularly suited for day trading for a variety of reasons.

First, liquidity, proxied by market size and volume, is important to a day trader, so naturally the most popular cryptocurrencies like Bitcoin Core (BTC) and Ethereum (ETH) are attractive targets, along with Ripple (XRP), Bitcoin Cash (BCH), and Litecoin (LTC).
Next, fees are also important to a day trader who plans to enter and exit a position in a certain cryptocurrency multiple times within a certain day. As mentioned before, fees vary by exchange, necessitating some preliminary research before deciding which exchange to use to day trade cryptocurrency.

Finally, cryptocurrency day traders should be aware of the history of a cryptocurrency and some of the actors pulling the strings of a coin’s development. Each cryptocurrency has its own unique origin story and learning who’s working behind the scenes and what their motivations are may help a day trader determine which coins may experience particular price volatility at a certain time.

What is the best strategy for beginners?

While there is no single best strategy for any kind of day trading, good strategies for beginners will be simple to construct and execute, with minimal on-the-spot decisions required. It takes time to become familiar with trading software and hone one’s trading instincts, so it can be more comforting to put into place an automated strategy with minimal downside potential.

Are there any differences between day trading Bitcoin, Ethereum, and altcoins?

The major differences between day trading Bitcoin versus Ethereum or other altcoins come in the form of different market structures. While major cryptocurrencies like Bitcoin and Ethereum sport substantial daily trading volume, small altcoins may seem appealing due to the possibility of enormous price volatility, but actually be difficult to sell in the case of a thin market. Day trading altcoins can certainly be profitable, but the relative lack of liquidity and the possibility of “pump and dump” schemes adds extra risk within an already volatile market.

What is a simple strategy that works?

Trading strategies tend to work in certain market environments at certain times. With that said, using an automated trading bot to scour cryptocurrency exchanges for arbitrage opportunities can be a low-risk high-reward strategy in specific scenarios. Also, an automated scalping strategy put into place with the HaasOnline Scalping Bot can be an easy entry into the world of cryptocurrency day trading. Otherwise, there are a variety of pattern trading strategies based upon technical indicators that may be simple for beginner day traders to put in place with a standard trading bot.

Final Thoughts

In this guide, we have tried to provide a basic yet detailed overview of what beginners should know before jumping into the world of cryptocurrency day trading.

Those looking for a streamlined way to pursue cryptocurrency day trading may find the HaasOnline cryptocurrency trading platform appealing. There are a number of key features such as automated trading bots, integration with major exchanges, native support of many technical indicators, and proprietary safeties which make day trading easier both for complete beginners and veterans in the space. HaasOnline has three different plans according to how many features you will need, with even the beginner plan providing unlimited trades across all supported exchanges, with no fees on trade activity charged through the platform.

We hope this guide has been useful and hope we can assist you in achieving your goals in day trading cryptocurrency.

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Cryptocurrency Exchange Comparison – Features and Benefits

How to Find the Best Cryptocurrency Exchange for You

Choosing the best cryptocurrency exchange platform is no small task. There are now more than 100 from which to choose; many of them aren’t available to everyone and, they all vary considerably in terms of features and functionality.

To help you choose the exchange that best suits your needs, let’s review the basics of how exchanges operate, their fundamental differences and why choosing the right one is important to investing success.

Read More →
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How to Trade Cryptocurrency for Beginners – A Guide for 2020

How to trade Cryptocurrency with our Crypto Trading Bot

How to Trade Cryptocurrency for Beginners

Cryptocurrency made headlines throughout 2017 for its volatility and the huge profits made by investors. Savvy traders bet that currencies like Bitcoin and Ethereum would continue to rise – and cashed in as brands like Cryptokitties introduced thousands of eager new investors into the marketplace. How can you get involved in cryptocurrency, and is trading the right approach for you?

Discovering what virtual currency is and how it works is essential if you are getting involved in cryptocurrency trading. Like any volatile investment, there are risks involved with cryptocurrency trading; education is vital before you begin trading.

Read More →
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Using crypto currency trade bots to disrupt fundraising with Salvation Army

HaasOnline has partnered with the Salvation Army to disrupt traditional non-profit fundraising with our bitcoin trade bots.

We partnered up with New Dawn and the Salvation Army to help people in Greece who have been devastated by a crippled economy.

HaasOnline is proud to have sponsored this event and we look forward to continuing this competition in the future. With your help, we were able to assist refugees who have fled to Greece and continued to face hardships. For those who may not be aware, the economic situation in Greece provides limited opportunities to those seeking refuge which made your donations all the more meaningful. These circumstances can be unimaginable for many of us and we applaud all of you for your willingness to act.

Read More →

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Haasbot 2.3 Beta Build 5 has been released!

We want to let you know that Haasbot 2.3 beta build 5 is now available. Below is the changelog:

– Futures positions not updating has been fixed
– New Altcoins are supported: Globe, Grm, Hap ,Nanas, Xra, Dibs, Drkt, Dub, Erc, Globe, Grm, IBits
– ETH/BTC charts on Poloniex function correctly
– ETH/BTC backtests on Poloniex function correctly
– Haasbot should not crash, even in rare situations

You can download beta build 5 for your OS below:
Windows
OSX
Linux

Note: You must have an active Haasbot license to participate in beta testing.

Be sure to check out the wiki for videos and tutorials on the new features in 2.3
* Futures Bots and how to set them up.
* Indicator Scanner and how to use it
* Orderbook View and how to use it
* Wallet Asset
* Trade Now
* Positions Tab

If you have any questions or found a bug, please let us know by posting in the bug report thread for that OS.

~ Haasonline Software

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Haasbot 2.2.1 Beta Build 1 Has Been Released!

~ All,

We would like to take a moment to thank our community and user base in being patient with us while we made numerous changes to haasbot 2.2. We have been working very hard on stabilizing our whiteservers to handle the load of our users and we are happy to announce that they should be extremely stable. In addition, this build has the numerous fixes which were needed for the Script Bots.

You can download and install the beta here: https://forum.haasonline.com/viewtopic.php?f=27&t=728

The only thing that we were unable to fix within a short period of time is BTCChina support, which we have suspended for the time being. We will work to correct this and re-integrate BTCChina support into Haasbot as soon as we can, but for now, please use either Huobi or OKCoin.com/cn for your cny trades.

Be sure to let us know if you find any bugs here: https://forum.haasonline.com/viewtopic.php?f=28&t=727

Thanks and best of luck with your trades! These are exciting times and now that the majority of the fixes have been done, we can get on with some of the more interesting features that are coming up in Haasbot 2.3!

~ Haasonline Software Team

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Haasbot 2.2 – A Major Milestone

We are proud to announce that we have release Haasbot 2.2. Haasbot 2.2 represents a major milestone for us as we have begun to add in some very innovative features. This release ushers in both performance and expanding the ways that users can generate trade signals. We are also proud to announce that we have added support for Coinbase, OKCoin.com (spot trading only), OKCoin.cn, and BTCChina! Of the new features, the main ones that stick out are the candlestick pattern indicators, trend identification insurances, master indicator feature, deviation offset, 14 new indicators, and a completely redesigned marketview page. The new marketview page acts as your very own cryptocurrency trading platform, where you can monitor live price data, use our indicators and 24 different drawing tools, and to manually execute trades! We hope that you enjoy this as much as we have throughout the testing process!

New features:
[Indicators] Deviation offset added (simple+advanced)
[Indicators] ChartType (now select between normal candles or Heiken Ashi) (simple+advanced)
[Indicators] Master Indicators (excludes an indicator for the normal sequence and make it an stand-alone signal, checked by insurances of course) (simple+advanced)
[Indicator] CandleStickPattern indicator is added.
[Indicator] Up/Down RSI indicator is added.
[Indicator] Keltner Channels indicator is added.
[Indicator] Donchian Channels indicator is added.
[Indicator] Bollinger Bands %B indicator is added.
[Indicator] Connors RSI indicator is added. (Advanced only)
[Indicator] Awesome Oscillator indicator is added. (Advanced only)
[Indicator] Williams %R indicator is added. (Advanced only)
[Indicator] Fractal indicator is added.
[Indicator] Small Fractal indicator is added.
[Indicator] CMO indicator is added.
[Indicator] TRIX indicator is added.
[Indicator] BOP indicator is added.
[Indicator] TRIMA indicator is added.
[Indicator] KAMA indicator is added.
[Insurance] TrendingTrend1 has been added, to allow only trading when the price is trending.
[Insurance] TrendingTrend2 has been added, to allow only trading when the price is trending. Alternative implementation.
[Insurance] TrendingTrend3 has been added, to allow only trading when the price is trending. Alternative implementation.
[Insurance] SideTrend1 has been added, to allow only trading when the price is side-ways.
[Insurance] SideTrend2 has been added, to allow only trading when the price is side-ways. Alternative implementation.
[Insurance] SideTrend3 has been added, to allow only trading when the price is side-ways. Alternative implementation.
[Marketview] Trade window can now be dragged across the window and closed.
[Marketview] Functionalities for the Trade Window:
– Click on the chart to selected to select that price.
– Click on a price in the orderbook to select that price.
– When doing a sell, clicking on the base currency will selected that amount.
– When doing a buy & put a price in, clicking on the quote currency will calculate the amount.
– Wallet will update in the window.
[MarketView] Added the ability to show indicators too
[MarketView] Added the ability to highlight specific Candle Patterns (aka candle analysis)
[MarketView] Added the ability to show Heiken Ashi
[Marketview] You open order will highlighted in the orderbook (when available and in view)
[Marketview] Indicators added to the marketview. Click on the name to select the indicator. Click on save to save the changed settings and reload the chart.
[Marketview] Candle Pattern Recognition added. 80+ Pattern can be selected.
[Marketview] Heiken-Ashi candle are added. Selectable trough the Settings on the left
[Marketview] There are now in total 24 drawing tools. (13 more are added since last update).
[Marketview] Drawing-Tools-Settings can be dragged across the window.
[Marketview] Orders can be cancelled by clicking on the highlighted order in the orderbook.
[Dashboard] The Full stop window has a wider functionality. Start/Stop per type of bot and selected bots. (click on the bot to (de)selected the bot)
[Dashboard] Trade bot coin position is displayed between the trade-amount and last update time.
[Trade Bot] Added the option to clone/copy a bot. Every settings can be copy-ed (or not).
[Trade Bot] Trade bot Trades is a button now.
[Trade Bot] Fine-tuning feature added.
[Arbitrage Bot] Added the option to clone/copy a bot. Every settings can be copy-ed (or not).
[Arbitrage Bot] Added option to “trade now” on an arbitrage route
[Order Bot] Added the option to clone/copy a bot. Every settings can be copy-ed (or not).
[Order Bot] Added indicators to the view. Click on the name to select the indicator. Click on save to save the changed settings and reload the chart.
[Order Bot] Pattern Recognition added. 100+ Pattern can be detected.
[Exchanges] Page will auto refresh every 2,5 sec and after inserting key’s.
[Script-bot] Enable Script Bots

Enhancements:
[Framework] New added coins: Lyb, Mine, Asn, Ldoge, Omc, Zirk, Xdb, Crave, Btcry, Octo, Giz, Cyp, Tron, Ntrn, Sling, Mue, P7c, Xseed, Cf, Cov, and Xem
[Framework] System clock check added
[Framework] 2 Brand new high-speed caching servers connected (proving data at 3000 prices/sec, 3x faster then before)
[Framework] Price push server selection improved
[Framework] Price load estimation time added
[Interface] Progress status of backtesting added
[Indicators] Benchmark speed increased with about 75%
[MarketView] Expanded the drawing toolset to the maximum

Changed:
[Exchanges] Support for Camp-BX is dropped.
[Exchanges] OkCoin trading supported and its split up into the CN and COM version
[Exchanges] BTCChina is now supported
[Exchanges] Coinbase Exchange is now supported

Bug fixes:
[OrdersEngine] Partial fix, order engine does are set when unexpected maximums are reached

As usual be sure to let us know if you encounter any issues or have any questions!

~ Haasonline Software Team

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Haasbot 2.2 Beta Build 1 has been released!

Its that time again, Beta Testing time! We have been working very hard over the last few weeks to bring you Haasbot 2.2. Haasbot 2.2 is a major update that includes a ton of new and innovative features! The new features include candlestick pattern recognition indicators, new insurances that will activate/deactivate trading based on the market (either sideways or volatile), whitesever and chart loading optimizations, completely redesign marketview page with live order books on exchanges with websocket integration, OKCoin support for spot trading (futures trading will be implemented in a future beta build), as well as numerous other optimizations and fixes.

haasbot bitcoin pattern recognition

Because of the massive overhaul and addition of features, we need your help for beta testing! We have gone through and tested everything, but we want your feedback and we need you guys to stress our whiteservers so that we can make sure our solution is resilient.

Here is a list of new features and the change log:

New features:
[Indicators] Deviation (offset) added
[Indicators] ChartType (now select between normal candles or Heiken-Ashi)
[Indicators] Stand-alone Indicators Option (excludes an indicator for the normal sequence and make it an stand-alone signal, checked by insurances of course)
[Indicator] CandleStick Pattern Indicator is added.
[Insurance] TrendingTrend1 has been added, to allow only trading when the price is volatile (Short Term).
[Insurance] TrendingTrend2 has been added, to allow only trading when the price is volatile. (Mid Term.
[Insurance] TrendingTrend3 has been added, to allow only trading when the price is volatile. (Long Term).
[Insurance] SideTrend1 has been added, to allow only trading when the price is sideways. (Short Term).
[Insurance] SideTrend2 has been added, to allow only trading when the price is sideways. (Mid Term).
[Insurance] SideTrend3 has been added, to allow only trading when the price is sideways. (Long Term).
[Marketview] Trade window can now be dragged across the window and closed.
[Marketview] Functionalities for the Trade Window:
– Click on the chart to selected to select that price.
– Click on a price in the orderbook to select that price.
– When doing a sell, clicking on the base currency will selected that amount.
– When doing a buy & put a price in, clicking on the quota currency will calculate the amount.
– Wallet will update in the window.
[MarketView] Added the ability to show indicators.
[MarketView] Added the ability to highlight specific Candle Patterns (aka candlestick pattern analysis)
[MarketView] Added the ability to show Heiken-Ashi
[Marketview] You open order will highlighted in the Orderbook (when available and in view)
[Marketview] Indicators added to the Marketview. Click on the name to select the indicator. Click on save to save the changed settings and reload the chart.
[Marketview] Candle Pattern Recognition added. 60+ Patterns can be selected.
[Marketview] Heiken-Ashi candlesticks are added. Selectable through the Settings on the left.
[Marketview] There are now in total 24 drawing tools. (13 more are added since last update).
[Marketview] Drawing-Tools-Settings can be dragged across the window.
[Marketview] Orders can be cancelled by clicking on the highlighted order in the orderbook.
[Dashboard] The Full Stop window has a wider functionality. Start/Stop per type of bot and selected bots. (click on the bot to (de)selected the bot)
[Dashboard] Trade Bot coin position is displayed between the trade-amount and last update time.
[Trade Bot] Added the option to clone/copy a bot. Every settings can be copy-ed (or not).
[Trade Bot] Trade Bot Trades is a button now.
[Trade Bot] Fine-tuning feature added.
[Arbitrage Bot] Added the option to clone/copy a bot. Every settings can be copy-ed (or not).
[Arbitrage Bot] Added option to “trade now” on an arbitrage route
[Order Bot] Added the option to clone/copy a bot. Every settings can be copy-ed (or not).
[Order Bot] Added indicators to the view (cosmetic only). Click on the name to select the indicator. Click on save to save the changed settings and reload the chart.
[Order Bot] Pattern Recognition added (cosmetic only). 60+ Pattern can be detected.
[Exchanges] Page will auto refresh every 2,5 sec and after inserting key’s.

Enhancements:
[Framework] New added coins: Lyb, Mine, Asn, Ldoge, Omc, Zirk and Xdb
[Framework] Price push server selection improved
[Framework] Price load estimation time added
[Interface] Progress status of backtesting added
[Indicators] Benchmark speed increased with about 50%
[MarketView] Expanded the drawing toolset to the maximum

Changed:
[Exchanges] Support for Camp-BX is dropped since they don’t allow customers to withdraw coins.

Bug fixes:
[OrdersEngine] Solve max limit bug

Coming Soon:
[Script-bot] Enable script-bots

As usual, please let us know if you find any issues and let us know if you want something added so that we can make Haasbot 2.2 the best release build possible! We are just getting started with innovative features and this is just the tip of the iceberg in terms of what we have planned!

~ Haasonline Software Team

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Haasbot 2.1.2 has been released!

Because of the recent release of the white servers we have seen some small issues come up with some charts or historical data. So we are releasing this version to solve those problems directly.

Of course we will use the update directly to add in some new coins that have been detected again.

Changed:
[Framework] Price push server selection at fail-over improved
[Framework] Price history loader improved

New features:
[Framework] New coins added: GEO, NSR and GRCX

Bug fixes:
[Prices] Several smaller fixes done to the local cache database
[Prices] Small fix done for chart loading halt

As usual be sure to let us know if you encounter any issues or have any questions!

~ Haasonline Software Team