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RE: Cryptocurrency Trading Bot Part 2 - TA-LIB Setup and Beginning Strategy
Do you plan on simulating stop losses / take profits on your strategies ?
Right now I can see 9 signals out of 16 are good (for the strategy you presented), so you'll have to implement stop-losses. Or maybe hedging with leverages, I don't know which can be the most efficient.
There's a lot of sudden movements in these markets that can easily trigger a stop loss if too tight.
Will you try some more short-term strategies too ?
Anyway, looking forward to hear more about your tests !
Yes, adding stop losses will definitely be a high priority, and will be even more helpful when trading on shorter intervals. I typically like to trade on the 15m and 1h intervals so a lot of the strategies I'll be posting moving forward will be centered around those.