Trading Template Management
MagicTradeBot offers a powerful Trading Template Management system that allows users to define, deploy, and automate trading strategies based on specific market conditions. These templates can be customized or imported from the official MagicTradeBot website to suit a variety of use cases and trading styles.
What is a Trading Template?
A trading template is a pre-configured set of rules, conditions, and preferences that instruct the bot on how to trade in different market scenarios. Templates help automate complex strategies and reduce reaction time in volatile conditions.
Example Use Cases
Market Crash or Pump (Scalping Strategy)
Set up a template to monitor major assets like BTC, ETH, SOL, and XRP. When a sharp price drop or sudden upward spike is detected, the bot will automatically execute a scalp trade, scanning 24/7 for the best entry and exit points.
Risky Assets (High-Leverage Short Strategy)
Create a template targeting meme-coins or tokens likely to be scams or at risk of delisting. The bot can wait for a specific trigger to execute high-leverage short scalp or swing trades with a smart stop-loss mechanism for risk control.
How to Use Trading Templates
You can either create custom templates or import official ones from MagicTradeBot’s website. It’s recommended to follow these best practices:
- Create a New Template:
Define a unique template for a specific trading scenario or asset class. - Set Trade Direction Conditions:
Specify whether the template targets long or short trades. - Configure Risk Management:
Define stop-loss and take-profit parameters for both scalp and swing strategies. - Assign Target Pairs:
Choose the cryptocurrency pairs the template should monitor and act upon. - Bind to Bot Instance:
Assign a bot instance exclusively to this template by setting the templateId. - Enable Demo Trading First:
Always test and fine-tune your template using demo mode before deploying in live markets.
Benefits of Trading Templates
- 24/7 automated strategy execution
- Reduced manual intervention and emotional trading
- Fast reaction to market conditions
- Supports both conservative and high-risk strategies
- Easy to test, modify, and replicate across bot instances