Zenbot: A Cryptocurrency Trading Bot
Zenbot is a command-line cryptocurrency trading bot built using Node.js and MongoDB. It's designed for automated trading based on technical analysis, supporting a range of exchanges including Binance, Bitfinex, Bitstamp, Bittrex, CEX.IO, GDAX, Gemini, HitBTC, Kraken, Poloniex, and TheRockTrading. While it offers a powerful plugin architecture for extending functionality and creating custom strategies, it's crucial to understand that cryptocurrency trading involves significant risk. Zenbot is not a guaranteed profit-making tool and should be used cautiously.
Key Features
- Automated Trading: Zenbot automates the trading process based on technical indicators and predefined strategies.
- Multiple Exchange Support: It supports a variety of popular cryptocurrency exchanges.
- Plugin Architecture: Allows for customization and extension through plugins.
- Backtesting Simulator: A built-in simulator enables testing strategies against historical data to assess potential performance.
- Paper Trading: Offers a "paper trading" mode to practice with simulated funds before using real money.
- Configurable Parameters: Provides flexibility in setting parameters such as sell stops, buy stops, and trailing profit stops.
- Flexible Sampling: Allows for adjusting the sampling period and trade frequency to suit different trading styles.
Risks and Considerations
Zenbot, like any automated trading system, carries inherent risks. Cryptocurrency markets are volatile, and even with careful configuration, losses are possible. It's essential to:
- Understand the Risks: Thoroughly research cryptocurrency trading and the risks involved before using Zenbot.
- Monitor Carefully: Never leave Zenbot running unattended for extended periods.
- Test Thoroughly: Use the backtesting simulator and paper trading mode to test your strategies and parameters before using real funds.
- Manage Risk: Implement appropriate risk management strategies, such as setting stop-loss orders, to limit potential losses.
Getting Started
Detailed instructions and documentation are available in the project's repository. The documentation covers installation, configuration, strategy development, and more. Remember to always back up your data and proceed with caution.
Community and Support
The Zenbot community is active on Reddit (subreddit: zenbot). This is a valuable resource for asking questions, sharing experiences, and getting help from other users.
Disclaimer
Zenbot is provided "as is" without warranty. The developers are not responsible for any losses incurred through the use of this software. Use at your own risk.