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Managing Bot Instances

Whenever you deploy a trading strategy with Pinebot, we consider that one bot instance, so long as it’s running. Depending on your Bot Commander plan (Free, Standard or Premium), you’re allotted a certain amount of instances. That is to say, you can have X amount of trading strategies running on the bot at any given time. Algorithmic trading can be a tricky puzzle. We’ve abstracted most of that away, giving you a point-and-click experience. If you’re accustomed to trading, deploying a bot instance should be fairly straight forward. Let’s go over it. I’ll assume you have either the Free plan + Demo Strategy or are subscribed to at least one paid strategy under Standard or Premium.

Head to the Bot Commander. Make sure you’ve saved your API key for the exchange you intend to use. We covered that in Exchange Accounts. Let’s also assume we’re using Bitmex. The first thing to keep in mind is that Pinebot can’t set your Bitmex leverage for you. If you don’t already have it set to what you want, login to Bitmex and preset your leverage. From the dropdown menus, choose your exchange and the strategy you want to deploy. Next, set the symbol you want the bot to trade on. Assuming that’s Bitcoin on Bitmex, the symbol is BTC/USD (They don’t call it XBT in their API for some reason). Go ahead and click check. If input correctly, Pinebot will popup a dialog letting you know the symbol is valid. Next, we set the timeframe. Which timeframe to use should have been posted on the strategy’s product page or communicated to you by its Botmaster (Unless you riddled a good setting out yourself). Let’s say the current strategy calls for 30 minutes – just type 30 in the box.

Next, let’s set the quantity. You can do this one of two ways. Let’s say on Bitmex you set your leverage to 10x and you want to trade $10,000 flat. You can enter a quantity of 10,000 and keep the Pinebot leverage on 1x or you could enter say, 1,000 and slide the Pinebot leverage to 10x. Either way would be fine and result in a $10,000 position size. That’s all the Pinebot leverage setting is really there for. It invokes a multiplier on whatever value you enter for

Deploying a bot instance.

Deploying a bot instance.

the quantity. The other option is to change the Unit selector. Switching it to Percent¬†allows you to trade a percentage of your exchange account balance. When using Percent, the leverage option on Pinebot takes on a different role. For percentages, you want to set your instance’s leverage to the same as you have set at your exchange. If you’re not trading on an exchange that supports margin trading/leverage, you can still use the Bot Commander leverage setting as a multiplier. Of course that doesn’t mean your exchange is then lending you funds. Usually when I deploy an instance on a non-margin exchange, I keep the leverage set to 1x.

Next up is the order type. If you’re a Free or Standard member, you can ignore this for now. If you’re a Premium member, you can choose between Market or Order Book Trailing. Market orders execute immediately upon being placed and often incur a higher fee. Our Order Book Trailing feature ensures that you don’t incur a maker or market order fee. It trails the order book until your orders are filled via limit orders. Very nice! The next option (Available to all users) is called “Wait for next position.” If you turn that on and the strategy you deploy has a position open at the time of deployment, the bot will wait for the next position to enter. That way you don’t wind up with a bad position. Finally, we have repaint protection. This is another Premium feature. Some strategies (Even good ones) have certain conditions under which they might repaint a certain percentage of time. The Repaint Protection feature helps mitigate that by constantly rehashing the strategy’s positions, trying to quickly draw out changes. It’s a good thing to have. Repaint protection won’t mitigate repaints 100% but it will make a difference where needed.

Table of deployed bot instances.

Table of deployed bot instances.

Now you can deploy your bot instance. After clicking “Deploy,” it should only take a few seconds after which a confirmation will alert you. You’ll also see your bot instance populate the first table below the chart. Be aware that it can take up to about a minute for a bot instance to truly, fully boot up in our bot cluster. Congrats! You now have a Pinebot instance working nonstop on your portfolio. Using the Instances table, you can also delete a bot instance anytime you like. As soon as you do, it will take perhaps a minute and that particular bot instance will stop trading.

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