Mandala Exchange is proud to announce our first Algorithm Trading bot Integration with CryptoHero!
Our users can now amplify their trading experience on Mandala Exchange by using the CryptoHero Bot.
Here are the steps to create an account and use CryptoHero Bot while trading on Mandala Exchange:
Activate Your Trading API
Before you create an account on CryptoHero Bot, make sure you have enabled API Management within your Mandala Exchange account, please follow THESE steps.
How to Create a CryptoHero Bot Account
- Open the CryptoHero Mandala Bot signup page
You must use your Mandala Exchange email to sign up for CryptoHero
- To create an account fill in the Name, Email, and Password data.
Tick the Terms of Service and click Sign up
- Verify the OTP code sent via registered email, click submit
- After your account is verified, the CryptoHero Bot page will appear
- To connect a Mandala Exchange account with CryptoHero Bot, click the Settings menu
- Click the Exchange API menu to add a Mandala Exchange account API
- Drop down the Exchange option and select Mandala Exchange
Enter the API Key and Private Key (API secret) from the API page of your Mandala Exchange account, click Add Exchange
- If successful, your Mandala account API will appear in the Connected Exchanges section.
Exchange Status - Mandala = Fully Operational
How to Make a Bot
After the CryptoHero Bot account is connected to your Mandala Exchange account, you can start creating a trading bot by following these steps:
- Return to the Bot menu, at the top right corner there is the word Paper, click the menu and change it to Mandala.
This will create a bot directly connected to your Mandala Exchange account
- Click the New Bot drop-down menu and select your bot type (Simple, Advanced, DCA, Exit)
- The Bot creation page will appear, you can change the name of the Bot as desired
- Configure the Bot setting by selecting the asset to be used (Stablecoin, BTC, and ETH pairing options)
- Select your desired strategy (Long or Short)
- Next, set your trading parameters.
In this section, you can set the Fund Allocation and the Order Type used (static or dynamic).
You can also set Extra Orders and Trading Frequency
- Next, you will configure the Entry Conditions.
You can specify Indicator Triggers and choose available indicators such as Bollinger Bands, EMAs, RSI, etc...
- Finally, you will need to set the Exit Conditions.
At this stage, you can determine what percentage of Take Profit and set the desired Stop Loss using available indicators such as Bollinger Bands, EMA, RSI, etc...
- After setting the parameters above, you can run a Backtest first or you can finalize your bot by clicking the Create Bot button below
- Congratulations, you have created your first CryptoHero algo trading bot on Mandala Exchange! The bot that has been created will appear in the Active Bot section, where you can see details of the selected pair, return, performance, status and can disable the bot by clicking the green button in the Action section.
CryptoHero Bot Terms:
- Long: Buy
- Short: Sell
- Base Order Limit: How much fund allocation is input in the first order
(allocation of funds at the first order)
- Static: As per desired static limit (most commonly used)
- Dynamic: Using percentage
- Extra Order: The remaining allocation of funds will be used for the number of transactions
- Trading Frequency: The higher the frequency the lower the risk and profit, the lower the frequency the higher the risk and profit
For some great informative videos check out the CryptoHero Youtube page:
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Mandala Exchange will make best efforts to choose high-quality coins but will not be responsible for your trading losses.
Mandala Exchange reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.