By using the Deriv Robot, beginner traders and experts alike can automate all of their trading. The vast majority of traders do not also boast an array of coding skills, something that is definitely needed to create an efficient trading bot. Some traders even find themselves searching for a trading strategy to work from, something that is also implemented into Deriv Robot.
However, thanks to the Deriv Robot, traders no longer need complicated algorithms and expert trading strategies in order to automate their trading.
By using the Deriv Robot, beginner traders and experts alike can automate all of their trading. The vast majority of traders do not also boast an array of coding skills, something that is definitely needed to create an efficient trading bot. Some traders even find themselves searching for a trading strategy to work from, something that is also implemented into Deriv Robot.
However, thanks to the Deriv Robot, traders no longer need complicated algorithms and expert trading strategies in order to automate their trading.
Deriv Bot Review
The Deriv Robot is also referred to as the Dbot and is designed to use API in order to communicate with the Deriv trading platform.
Thanks to the advancements of the Deriv Robot, there is no need to know any coding as the trader. All you need to do is pick your settings and trading plan and go.
Dbot is designed to ensure that it can be set up in just five steps, while also being free to use with more than 50 tradeable assets. You don’t even require your own expert strategy ad the Deriv Robot has three already programmed in.
The Deriv Robot also comes with a performance tracker which can be used to analyze your trades and make those necessary changes.
How Deriv Robot Works
For those who do not know, API stands for Application Programming Interface and it is essentially a piece of software that acts as a middleman between your requests and the Deriv trading platform. All you have to do is customize your Deriv Robot settings using the click and select menu before enabling the bot. At this point, the automation will begin and subsequently follow your pre-set trader instructions.
The Deriv Robot is simple and efficient. All that is needed is for the trader to select their chosen asset, choose the entry/exit parameters and select a position size. Once this is complete, the Dbot will open the position automatically when the conditions are met. The trade will then be closed if the pre-selected stop loss or profit level is achieved. This means that the trader does not have the monitor the process from start to finish.
How To Use Deriv Bot
Deriv Bot was designed to be easy, with a simple configuration layout and settings/trading parameters split into four blocks.
Deriv Robot Trade Parameters
In the Dbot configuration process, the first block that needs to be filled in is the trade parameters. This is added by default when a new strategy is set up. In the trade parameter block, a trader must select:
Market – This is where the different market types and trading assets are laid out. You can choose from commodities, stock indices, forex and synthetic indices. Once chosen, you then have to select a region, for example, Europe. Finally, you can choose your preferred index.
Trade type – This is where you can choose your preferred type of trade. Options include in/out, up/down and touch/no touch. Extra requirements can also be added depending on which trade type you select.
Contract type – This can only be chosen once the previous two blocks are already configured. The choices will differ depending on your previous selections. For example, in/out trades come with options for ends between, ends outside or both.
Additional parameters – Extra options include:
- Chart timeframe
- Restart buy/sell in error (yes/no)
- Restart last trade in error (yes/no)
- Trade options – Barriers, stake, duration and prediction
Deriv Robot Purchase Conditions
Once the trade parameters have been set out, the trader can then choose their purchase conditions. This is when you tell the Deriv Roboto when to buy certain contracts. In order to do this, you can use indicator blocks and conditional blocks. You can even define your purchase conditions with multiple purchase blocks. However, it is worth noting that the purchase block is only able to be used within the purchase conditions block.
Deriv Robot Sell Conditions
Before the contract expires, you can set conditions of sale. This feature can also be used at market price.
Restart Trading Conditions
In the restart trading block, you can choose whether the Deriv Robot continues trading or not. Within the settings, you can choose parameters that automate the next trade decision. Profit settings and stop loss settings are also available. Dbot also has indicators, run-time stats, candly analysis and contract details to help aid your decisions. Strategies and settings can even be imported into the Deriv Roboto, meaning you can instantly load up your preferred restart trading conditions, as well as selling and purchase conditions.
Deriv Robot Demo
What’s even more impressive is that access to Deriv Robot is currently free. Once a trade signs up to Dbot, they are handed a demo account with a free $10,000 loaded on. This demo money can be used at your own pleasure. We suggest that you take advantage of this to test out the settings within Dbot without risking real money. Once you are happy with the settings, you can then deposit real money and get to work. It is worth noting that while the demo trading is good practice, none of the money can be withdrawn. If you want to cash in on your profits, you need to trade with actual funds.
Deriv Robot Download
Better still, you don’t even have to download or install anything onto your system. The Deriv Robot is full functioning online, meaning you need only set up an account and log in. You will then have the chance to pick your settings and get going. The Deriv Robot is currently available on iPhone, Android, PC and MacBook, meaning you can access it anywhere with an internet connection.