The THEN Operator
Creating an automated trading strategy involves setting up a condition that will activate the strategy and defining a least one action to be executed when the rule runs.
You can build multi-step rules for advanced crypto trading strategies defining sequential blocks for your trading plan. For example, you may want to define a take profit on that first order, or you may want to protect your wallet from unexpected losses with a stop loss.
Trading sequences within the same rule
A 360 degrees complete rule would look similar to this structure
- Initial condition – that starts the rule
- Action connected to the initial condition
- Sequential condition – the bot will start checking this after the bot executes the previous order
- Sequential action – this bot will send another order once the sequential condition is met on the market.
Let’s make an example. Some coins experience periods without a clear trend. The price oscillates within more or less defined boundaries. It would be profitable to buy and sell the coin once it approaches these levels to take advantage also of low-volatility moves.
Setting up a rule like defined above, you will buy when the price approaches a support level and sell if it bounces back around the resistance area. An automated multi-step trading strategy is perfect to take advantage of these setups because trading manually in a range with no direction is very stressful.
In this case, when selecting the THEN operator each action will be sequential and the rule will run according to well-specified steps. BUY – SELL – BUY – SELL, and so on..
You have plenty of flexibility for setting up sequential rules, you can customize each parameter to fit your trading idea. Thanks to multi-step rules your crypto trading will reach the next level!