Home Gunbot FAQ Answers to Frequently Asked Questions

Gunbot FAQ Answers to Frequently Asked Questions

 

Gunbot FAQ, Get Your Questions Answered Now

Get Your Answers Now and Feel Free to Ask Me Anything if You Still Have Some More Questions About Our Crypto Trading Bot.

I've seen many people just like you who would like to Know About Gunbot Before Buying It.

Therefore I've created this page to help you with any doubts you may have.

Without further ado, Please allow me to introduce you to Gunbot FAQ

What is Gunbot?

Gunbot is our Crypto Trading Bot brand, an algorithmic software program that allows you to trade Bitcoin or any other Alt-coin on a cryptocurrency exchange.

Gunbot will execute the trading logic defined in your strategy; it will place orders based on market data, helping you trade by rules and not by emotion.

Is Gunbot a Subscription Service, or Do I have to Pay Monthly Fees?

No, You pay once, and you will get a Lifetime License, plus you are entitled to Free Software Updates as they become available.

If you think Gunbot is expensive, calculate how much money you will expend after one year of subscription on any other bot service offering you a low up-front price but continuous monthly payments...

Where Can I Run Gunbot?

You can run Gunbot on any Personal Computer or Server, with at least a 64bit CPU, 2GB of Memory, 10GB of space on your Hard Drive, and broadband internet access.

You don't need a VPS or supercomputer, and I won't recommend you spend more than what you have to, but it is totally up to you.

What are the Operating Systems Supported by Gunbot?

You can Install Gunbot in Windows, Linux, macOS, or ARMV7.

Is Gunbot Newbie-Friendly? How Easy is to Run?

Yes, but Easy is a relative term, so let me ask you these example questions, and you be the judge of that.

  • Can You Decompress (Unzip) a Zip Folder?
  • Can You Double-Click a .exe File so it can Run?
  • Can You go to a URL (http://localhost:5000) in your browser?
  • Can You Create a Password and Click Login?
  • Can You Follow an Easy-Wizzard with Basic Set-up Instructions?

If You can do that with ease, you won't have a problem.

Keep reading this Gunbot FAQ article to find the answers you're looking for...

After that, you will be prompted to add your API keys for your chosen exchange, which you can do by simply following the exchange instructions.

Other than that, it is mostly filling or selecting values from dropdown boxes, prest strategies, or pair selection.

Based on that, I will tell you, Gunbot is very easy to set up and run.

Gunbot FAQ Note: The examples and file names are for Windows users; I'm assuming Linux and Mac users won't have a problem with their file types and ways to execute a program.

What is Gunthy Token, and What Do I Need it For?

Gunthy token is our Utility token, and you will need it to run your License; without it, the software won't run.

You don't have to buy it; the amount needed to run your license will be sent to your registered wallet in less than 24hours after the activation.

If you sell those coins, you won't be able to run the bot, but you won't lose your license.

It will just become inactive until you add the needed coins again.

You can also trade the Gunthy Token in Beaxy, Txbit, and on Gunthy Exchange.

And lastly, you can use the GUNTHY Token to Upgrade your license and unlock add-ons like the Market Makers bot and bitRage, our arbitrage bot.

Does Gunbot Buy and Sell on Automatic?

Yes, it does; after you set your strategy, choose a pair, and define the values you want to Buy or Sell, all you have to do is push the "Start Trading" button.

Gunbot communicates with the exchange via API or WebSockets, and once your rules match with the info the exchange is sending back, the bot will execute your order.

What Trading Strategies or Indicators can I use to Trade with Gunbot?

Your default Gunbot config file comes with 20 trading strategies preconfigured and ready for you to use.

All you have to do is fill the boxes with your desired values.

The Gunbot Strategies are named after trading indicators.

Therefore when you chose to use the MACD strategy, you'll be Buying when the MACD line "cross-up" and selling when "cross-down."

8 Examples of Gunbot Strategies

  1. ADX (Average Directional Index)
  2. BB (Bolinger Bands)
  3. EMA-Spread (Exponential Moving Average)
  4. Ichimoku (Ichimoku cloud)
  5. MACD (Moving Average Convergence and Divergence)
  6. SMA-Cross (Simple Moving Average)
  7. Support and Resistance (Supply and Demand)
  8. TSA (Time Series Analysis)

Gunbot Grid Spot Strategy Example

These are some examples of widely known trading strategies based on indicators used by professional traders everywhere, and now you can use 'em too, thanks to Gunbot.

But not only that, but you can also combine any of the Buy and Sell methods and even add more confirming indicators like RSI (Relative Strength Index) if you wish to do so.

You can use the same indicators for Margin or Futures Trading.

These are some of the names of the preconfigured strategies, but you can name, mix, and create as many as you want with your Standard, Pro, or Ultimate Gunbot Licenses.

Can I Use Any Gunbot Strategy with the Default Settings?

You can, but are those values achievable for the pair you want to trade and align with the market conditions?

Let me explain what I mean by that; I will use a simple Gain strategy, which will buy when the price drops (to your set percentage) and sell at a percentage higher than what you bought.

Buy and Sell Methods are set to "GAIN."

The default "Buy Level" is set to 1; this means that Gunbot will buy when the price is 1% lower than the lowest EMA (you got 2EMAs)

Is that happening for your pair in your Time Frame?

Let's assume you're trading USDT-BTC in Binance, is the BCT price going 1% lower than EMA8 or EMA16 in the 15 minutes time frame?

If your answer is yes, then the default setting for the Gunbot Gain Strategy will work for you, and you will see those Buys every time that condition occurs...

Now let's check the Default Sell Value.

Gain 0.5, this means that Gunbot will Sell when the price reaches 0.5% profit from your Average Bought Price (including fees)

Then again, check the charts. Is that gain percentage doable in your time frame? If you can make 0.5% in those swings, then you're good with those values.

Otherwise, you will get stuck and asking. Why Gunbot Don't Buy? Why Don't Gunbot Sell?

Here are other examples of default Gunbot Settings that you should change.

Trading Limit 0.002: This is the amount of BTC you want to use per trade

My recommendation is that you check the actual Bitcoin Price and set that value accordingly, remember, TL is Not your Total Balance.

If you're trading USDT-BTC, that value must be set in whole numbers, not in decimals.

To trade your whole Balance, you have to toggle the Trading limit all-in, as you see in the picture below.

Note that you can Trade a percentage of your balance, too, if you chose that option.

Can I Make and Lose Money with Gunbot?

Absolutely! You can make a ton of money trading, and you can lose a ton of money trading too.

Trading is a risky business, but if you Learn How to Manage your Risks, you will be successful while you trade with Gunbot consistently.

You can definitely get liquidated on Margin or Futures Trading, but I have to ask you if You're a Spot Trader.

When do you lose? Obviously, when you sell, right?

Gunbot won't sell at a loss unless you set it to do so.

But, I have to recite the same mantra and disclaimer: DON'T TRADE WITH MONEY THAT YOU CAN'T AFFORD TO LOSE.

Trading with Gunbot is not a "Get Rich Quick Scheme" trading is a skill that you improve with practice, and Gunbot is the tool to help you to succeed faster.

Because you will be using effective trading strategies, that would take you some serious time to master and execute manually.

But we are humble and don't say "Gunbot is the Perfect Money Making Machine," we say, "We are Working on it" 🙂

Lastly, check Gunthy Resources for more Gunbot FAQ and official information about our bot.

I hope this Gunbot FAQ page got most of Your Questions Answered, but please do not hesitate to contact me if you have more.

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