How To Create Your First Rule
Coinrule is your smart-assistant to build trading strategies with the IFTTT logic.
The first step in creating your trading rule is to decide when the algorithm has to execute an action. For that we can choose between different options:
Planning and building an automated trading strategy can be complex and usually requires advanced coding skills.
Coinrule is a smart-assistant that allows you to create your own trading plan adopting a very easy If-This-Then-That approach. What does that mean?
If something happens on the market, then execute my order!
Quite straightforward, isn’t it?
Let’s dig step-by-step into the Rule Page to see how it actually works.
First, select the Exchange you want to trade on. If you are not ready to connect an exchange yet, or you just want to test your rule in a safe environment, you can select our Demo Exchange.
If you still don’t have a clear automated trading strategy in your mind, you can use one of our Templates. You can use them to get inspiration, adjusting them to fit your needs and preferences, or just click on Apply if you are looking for a ready-to-use tool.
Probably the most important part of an automated trading strategy is the Condition. Deciding when the rule should execute your orders has a crucial impact on the performances. You can decide to place your orders at specific time intervals or depending on some specific events to occur in the market.
Then select the Action, or multiple Actions, that you want to be triggered by what was set in the previous Condition section. You have a high degree of flexibility in terms of coins and amounts to buy or sell in each order.
After setting up the first execution of your strategy, you can also create a more advanced rule by adding an operator.
An operator represents a logical connection between different blocks within the same rule.
Coinrule allows five operators that provide full flexibility to create any trading plan desired.
Finally, set up when to Launch your rule and how many times you want it to be executed. It’s very important to have full control over your rule to avoid over-trading and undesired orders, you can also set a limit of execution within a time frame to avoid that!
If you are still not ready to launch your rule, or you want to review the parameters later, you can simply save it as a Draft.
You are now ready to create your first rules!