FAQ
What is it and how does it work?
Backtesting is a method for evaluating trading strategies using historical data. On this platform, you can define your own trading strategy, specify the trading pair, backtesting time period, and take profit/stop loss limits. The system then calculates your strategy's performance using historical data from the Binance exchange. In essence, backtesting allows you to see how much profit or loss you would have made if you had implemented a particular strategy during a past time period. This feature helps you improve your strategies or try new ones.
What conditions can I simulate?
You can test all conditions that can be specified in real strategy selection. For example, you define a buy strategy using indicators, then specify the trading pair and sell strategy (take profit and stop loss), and examine what results you would have achieved if you had executed this strategy during a past time period.
Is it possible to use multiple indicators and candlestick patterns simultaneously?
Yes! You can consider multiple indicators and candlestick patterns in different timeframes.
What can I learn from it?
You can examine the long-term results of your strategies. For instance, after backtesting, you might find that some strategies are suitable for Bull Markets, others perform better in Sideways Markets (range-bound or neutral markets), and some work well in Bear Markets.
Where does the data for backtesting come from?
Based on the time period you select for backtesting and your chosen trading pair, the backtest is executed using price data from the Binance exchange. This means that after you select your time period and trading pair, price and volume data is retrieved from the Binance exchange, and your strategy is run on this data.
How do Smart Trade bots buy and sell the desired currency in my exchange account based on my strategy?
You specify the buying conditions by setting your strategy, and selling conditions by specifying the price or percentage of take profit or stop loss. This platform connects to your chosen exchange using an API key, which is the safest method available for this purpose and is provided by all reputable exchanges worldwide.
How is the exchange account connected to this platform? Does it require the exchange account password?
No, there's no need to provide a password! This platform connects to your exchange account using an API key. API is a secure solution provided by all reputable exchanges worldwide, including Binance, Coinbase, and others, allowing users to connect through their preferred programs. The security of these keys is very high as you can specify the access level during creation. For example, you can set the key to only allow trading and not allow withdrawals or transfers. Using an API key is the safest method for connecting to your exchange account. This way, although this platform can manage your trades, it cannot withdraw or transfer money from your account.
Can the API key be used to withdraw from users' exchange accounts?
No! For this platform to manage your trades, it needs to connect to your exchange account via an API key. The step-by-step guide we've designed for you explains how to set the key's access level only for trade management. Therefore, while this platform can manage your trades on the exchange, it cannot withdraw or transfer money from your account.
Do I need to provide an API Key to test my strategy in DEMO mode?
No, this platform only needs an API key when it needs to manage your trades on the exchange. Therefore, you don't need to provide an API Key to test your strategy or receive notifications when your strategy conditions are met.
Which exchanges are currently supported?
Currently, Binance, BingX, KuCoin, Coinex, Binance.US, OKX and Bybit exchanges are supported, but we're in the process of adding more exchanges. Feel free to contact us if you have a specific exchange in mind that you'd like us to add.
Are Futures trades supported?
Not at the moment, but we're working on adding this feature. Currently, only SPOT trades are supported.
Are the default values of indicators for creating strategies adjustable?
Yes, for example, for the SMA indicator, the default Length value is 9, meaning by default, the Simple Moving Average is calculated based on the past 9 candles, but you can change this.
How do Smart Alert bots work?
After creating a strategy, you can convert it into a Smart Alert bot. In this case, whenever the buying conditions of the strategy are met on your specified trading pair in your chosen exchange, the bot will send you a notification via Telegram. For example, you can specify that for the BTC/USDT pair on Binance, if the Parabolic SAR indicator is below the price on the 1-hour timeframe and the RSI value is less than 30 on the 30-minute timeframe, a notification should be sent to you.
Can Smart Alert automatically place buy or sell orders?
No, Smart Alert is designed only for sending alerts. If you're looking to automate your trades, you can use Smart Trade, which allows you to set buy and sell orders based on pre-defined strategies.
Demo Trading
How does trading with a demo account work?
In demo account trading, all market conditions are simulated realistically for your trade. This means that prices and market conditions are received from your chosen exchange for your specified trading pair, and all conditions will reflect real market data, but no money is withdrawn from your exchange account to open positions. Before executing a strategy with real money, you can run it in DEMO mode to evaluate the strategy's results, and if suitable, you can then execute it in LIVE mode.
What are the differences between a demo account and a real account?
A demo account allows you to test your trading strategies without financial risk. All market conditions in the demo account are similar to the real market, but trades are executed with virtual money and will have no financial impact on your real account.