How to trade on the Exmo exchange and make money with a bot

Cryptocurrency exchanges are the platforms where most transactions involving cryptocurrency take place. Despite the fact that there are many exchanges, there are also clear leaders. One of these is EXMO. This platform is large, multifunctional and offers an accessible interface that even a person who is encountering such resources for the first time and does not know how to behave on them can understand. In addition, the support service allows you to calmly and quickly figure out how to trade on EXMO.

Trading is the main difference between exchanges and exchangers. Here you can bargain to profit from coin transactions. In addition, there are many more profitable offers on the exchange than anywhere else. Of course, you can trade directly, but such transactions cannot be called safe. In this case, users only need to figure out how to make money on the EXMO exchange, and the resource itself deals with the topic of security. By the way, this issue is given special attention, which is one of the main advantages of the service in question.

Pre-registration

Naturally, trading on Eksmo is impossible without registration. Without registration, the user has virtually no rights to the resource; he will not be able to perform a single operation. The maximum that is possible is to superficially familiarize yourself with the interface, and that’s not for everyone. To get full access to the resource, please pre-register. It's quite simple to do this:

Go to the main page of the site;
On the presented page you will see several options for how to continue registration: insert your email into the large field and click on the word “Registration” or near the language panel of the “Login” button, also click on the “Registration” button. What you choose does not make much difference, since any option should lead to the same result;
A user attempting to register on the exchange will be presented with a special form. You need to enter your nickname (create one) and password. By the way, the password must be entered twice to confirm that it is spelled correctly;
Don’t forget to solve the captcha and check the boxes opposite the lines confirming your agreement with the terms of operation of the service;
When a potential account owner clicks on the blue registration button, he will receive a message by email. There will be a link that you need to click on to confirm that you are a real person and really agree to create an account.

After this, you can consider that the pre-registration has been completed successfully. As you can see, the process is simple and rarely takes more than two or three minutes.

Pros and cons of using trading robots on the Exmo exchange

The obvious advantages of automated trading include:

stable passive income if the program works correctly;
there is no need to spend a lot of time collecting information.

Against the background of these advantages, it is worth highlighting the main disadvantages of trading robots:

profitability depends on the strategy embedded in the algorithm, so it is recommended to familiarize yourself with it before practical use;
there is a risk of losing the deposit (to reduce risks, it is recommended to always set a volume limit).

Course schedule

Before trading on the EXMO exchange, you must study the features of trading and learn to understand the interface of the resource in question. And since the main tool that a trader may need is a chart (it is thanks to it that the best rate is visible), let’s start with it.

As already mentioned, charts are used to observe the movement of the value of a particular cryptocurrency on the exchange. You need to understand that each pair traded on the platform in question has its own separate chart. Some graphs show how trading of cryptocurrencies is developing in relation to fiat money, others look at the ratio of trading of one cryptocurrency to another cryptocurrency.

The list of orders is presented on the chart in the form of “Japanese candlesticks”, so the rate can be seen as red and blue rectangles. The peculiarity of a candlestick chart is that the size of the candles can be controlled when you select the period for display. If you look at the chart for today, then each candle reflects a period of half an hour. If you choose a weekly, monthly or longer perspective, then the result will be appropriate.

The rectangle is the so-called body of the candle. Its boundaries are formed by prices at the beginning and end of the time period that the chart shows. It is thanks to this method of forming candles that they can be divided into several types. So, there are two types of candles:

Bullish candle
. Formed if at the beginning of the body creation the price was lower than when the body formation ended. In this exchange, bullish candles are colored blue;
Bearish candle . This is the name given to candles that were formed at a high price, and at the end of the formation period the value of the cryptocurrency decreased. At the stock exchange, such candles are painted red;
Doji candles . These are candles that have practically no body. They are like this because both at the beginning and at the end of its formation, the value of the cryptocurrency and the rate it demonstrates were the same;
Tops . These are candles that have a body, but it is very small. In this case, the best rate has not changed much over the time period selected by the user.

The size of the candles indicates the size of the spread. That is, candles reflect the difference between the best prices at which the cryptocurrency was bought and sold.

The color section also does not contain much information during a period of stagnation, but it allows a purely visual, quicker look at the features of the course formation at the current moment. But when there is active movement in the market, the color and size of the candles plays an important role, allowing you to understand how and in what direction the asset price changes.

By the way, there is another important element that will allow you to better understand what the graph shows. These are thin lines extending from the body of the candles in the upper and lower directions. These are the so-called shadows. The purpose of the shadows is to show how far the price is from the expected average value at the beginning or end of the period selected for the chart.

You need to work with the chart, and the ability to read candles helps a lot with this. Thanks to this skill, a trader will be able to quickly and clearly assess what is happening on the market during the selected period in order to build an adequate strategy for further actions on the stock exchange. Professional traders do not take a single step without consulting the charts presented on the exchange.

By the way, for each 24-hour chart there is also an additional chart, which is located a little lower. It complements the main chart and allows you to get a more complete picture of what is happening by tracking spikes in trading transactions for a given pair.

Free bots

Many developers offer a free version of their product. Typically, free robots are more limited in functionality and support fewer exchanges. In addition, many of them are valid for a month or less.

In addition to robots on the web and in the form of applications, you can find first-class and, most importantly, absolutely free, proven solutions in the form of scripts, that is, programs that work through the command line or terminal.

One such solution is Zenbot. It allows users to create bots for any of their purposes, going beyond the crypto market. You can download it from GitHub (search for 25 ready-made presets with strategies using the phrase “zenbot list-strategies”).

Working with limit orders on Bitfinex via Zenbot

Among the most popular free offers:

Name	Supported exchanges for free version	Availability of a paid version	Interface	Website
3commas	Huobi	Yes	Web	https://3commas.io
Cryptorg	Aliencloud Binance Bitfinex Bittrex HitBTC KuCoin Poloniex	Yes	Web	https://cryptorg.net
Stratum-bot	Yobit	Yes	Application	https://btn.plus
Simple Bot	Binance Bittrex EXMO HitBTC INDX.ru WEX	Yes	Application	https://simple-bot.ru
Finbots	Binance Poloniex	In developing	Web	https://finbots.ru
GBot	Binance Bitfinex Bittrex Bleutrade CEX.io DSX EXMO HitBTC Huobi Kraken KuCoin Liqui Poloniex Stex Yobit	Yes	Application	https://gbot-trader.herokuapp.com
Gekko	Bitfinex Bitstamp Poloniex	No	Script	https://gekko.wizb.it
Gimmer.net	Binance BitMEX Bitfinex Bittrex Cobinhood Huobi Kraken OKCoin Poloniex	Yes	Application	https://gimmer.net
Moon Bot	Binance Bittrex	Yes	Application	https://moon-bot.com
Zenbot	Binance Bitfinex Bitstamp Bittrex CEX.IO GDAX Gemini Kraken Poloniex Quadriga and others	No	Script	https://zenbot.org

Books, orders and trading history

Below the chart, orders will be placed, or more precisely, an interface in which these orders can be created. In particular, you can place an order to sell or buy funds there.

A little below the section with orders the so-called glasses will be located. And next to them is also the history of trading. Features of placing all this are as follows:

Applications/orders to buy or sell cryptocurrency are placed in the glass. They are sorted depending on the course. At the top of the glass you can see orders at the best rates, and at the bottom of the glass there will be orders with a low rate, and therefore less requested;
The list of orders is presented on the exchange as a table. In it, each order has its own niche, where the price, the size of the asset used and the order execution amount are indicated.

In principle, everything on EXMO is almost the same as on other resources of this type. But to understand how it all works, it’s better to look at it in practice. Let's look at how to buy Ethereum for rubles on Eksmo. In the left glass there are orders to buy Ethereum for rubles, and in the right one you can sell Ethereum at the best rate for today. But there is a difference between them (between the sale and purchase prices). This is the spread.

To sell or buy Ethereum for rubles, the user has two options:

The first is to do the operation according to market laws . You need to place a market order. Its peculiarity is that it works immediately, so you don’t have to wait long. This option is suitable if you make a transaction right here and now, without unnecessary hassles and long waits. All you need to do is create an order, set the “By market” mode, specify the amount of Ethereum, and press the “Buy/Sell” button. After this, the system will begin searching for the best offer available on the exchange and the transaction will immediately go through.
The second option is to create a limit order
. In this case, the user himself chooses the price at which he wants to make a transaction. Everything is done through the “By limit” tab. Create an order and the system will place it in the appropriate order book. You can even set a price that does not correspond to the market price, for example, much more than it. But we do not recommend doing this - most likely, the order of such a “brave” user will never be redeemed. In any case, it is better to leave limit orders to professionals who can and know how to speculate on them. Beginners may simply not have time to activate the order when it’s their turn, and will lose profit.

When part of your order is executed, regardless of which order we are talking about, the user will need to pay a commission. Typically, this commission is the standard 0.2% of the transaction.

It looks like this: when a trader purchases one Bitcoin, 0.998 BTC will come to his exchange account, since the service will retain its commission.

You can view all transactions for the sale or purchase of cryptocurrency on the exchange in the trading history. This section is easy to find in the exchange interface. There, all transactions are sorted by time, and opposite each one it is indicated what type it belongs to. For example, if during the process a currency was bought (“buy”), then such a transaction is located in the left order book, and if it was sold (“sell”), then in the right one. And also in this section you can find information about the price of the transaction, the quantity of the asset and the total amount.

By the way, if you don’t want to bother with all these trades, orders and everything else, you can take a much simpler route on the exchange by going to the “Exchanger” section. Here you can also purchase or sell an asset, only much easier and faster. This is more convenient if there are not enough orders in the order book to satisfy your request. The deal, of course, will be completed, but not on favorable terms.

Why are trading bots needed?

A cryptocurrency trading bot (robot), or automated trading system (ATS) is a program that partially or fully automates the trading process. Such a program is able to recognize trading signals and make the desired transaction in a split second, which a live trader cannot do.

There are various types of trading bots on the crypto market, created for certain tasks. Let's go through the main categories.

There are a couple of main types of strategy:

Exchange bots (market makers) - work on one specific exchange, making money on the difference in the buying and selling rates of cryptocurrency. This strategy is called market making, and is encouraged by exchanges.
Arbitration bots make money on “arbitrage,” or the difference in rates between several exchanges. Read more in our article: Strategies for intra- and inter-exchange cryptocurrency arbitrage.

By software complexity:

Simple bots work according to pre-defined algorithms. Typically, users can edit algorithms to suit their purposes.
AI bots are robots with the integration of artificial intelligence and machine learning.
Other robots are not directly involved in stock trading:
Telegram bots look for sellers or buyers of cryptocurrency in Telegram, where you can also make transactions automatically.
Faucet bots are online services that give away small amounts of cryptocurrency, usually in exchange for viewing ads.

Not all robots make deals:

Robot advisors can also be based on a pre-established algorithm or neural network. But instead of taking trades themselves, they provide hints to the trader, who decides what steps to take.

And, of course, robots can be either paid or free.

Withdrawal of funds

After a trader has worked on the exchange, he needs to withdraw money from EXMO. On this site, this procedure is quite simple, and you can withdraw funds in almost any way convenient for the user.

But since most transactions are carried out in the cryptocurrency equivalent, the coins must first be exchanged at an exchanger. And only then take it out. Withdrawal of money is carried out with or without commission. There is no need to pay if you withdraw funds to Advanced Cash or Payeer. But among all the available options, there are also others:

Yandex money;
QIWI;
On the map;
Bank transfer;
Other.

If you withdraw to a card, in particular to Sberbank, you will also have to undergo verification. To do this, you need to take a screenshot of the documents and send them to the exchange. In addition, you need to indicate your place of residence and sign an agreement. Users who withdraw funds to a card will be forced to pay additional money in the amount of 50-70 rubles. It's not very profitable.

For users from Russia, it is more profitable to use a Yandex.Money card, although the option with Payeer, QIWI or Advcash may also be suitable. They are available for free and do not require verification.

When you have decided on the payment system to which you will withdraw money, go to your wallet. In it, click on the “Withdraw” button. Find the desired method for withdrawing coins, taking into account commissions, minimum payout amounts and other important conditions. After which you can fill out the fields with the payment amount and the account number to which the money is withdrawn.

On the EXMO cryptocurrency exchange, it is possible to save the withdrawal method used, and then you will no longer have to fill out all the fields again. The system will automatically withdraw money. Moreover, such saves can be made not only for the withdrawal of rubles or dollars, but also cryptocurrency, so as not to remember the generated wallet address.

Withdrawal deadlines are usually not delayed. Money is withdrawn almost instantly, and if not, the system warns about it. Although the confirmation email is sometimes delayed. To resend it, you need to go to the “History” and “Wallet” sections. The last transaction is at the top and there is also a confirmation link.

What investments are required to start automated trading?

We're glad you asked this question. This is a sign that you are on the right track to improve your trading career.

Each person will have different views on possible risks, different desires to earn money and different circumstances.

These factors cause traders to think differently, and this is what is key in the long term.

The answer to this question is simple: everything will depend on you and what your “final destination” looks like. Are you just trying your hand at trading or are you doing it to make huge profits over a period of time? Those who trade for fun can do so with little capital.

But those looking to become a bigger player will need to invest over $1,000 to really have a head start in the digital asset markets.

It's worth keeping in mind transaction costs, existing withdrawal fees, etc. It's important for you not to forget about this.

How it worked before

Previous generations of trading terminals could be integrated with various automation tools. One of the most popular, oddly enough, at one time was Excel. With its help, traders could configure the export of data from the trading terminal, as well as receive trading orders.

It was also a common practice among traders to connect powerful technical analysis systems and robot development systems like WealthLab and MetaStock to their terminals. In such cases, integration is usually accomplished using additional libraries.

This gave the trader the opportunity to automate, and in the case of MetaStock and WealthLab, the result was a rather complex trading system that was not particularly reliable. Over time, this problem was solved: built-in programming languages appeared in some trading terminals.

Design update(02/14/2018)

The other day there was a major design update. There's been a lot of shit thrown around in the chat, but I totally approve of the new design. It has become more convenient and cleaner, and most importantly, they got rid of the stupid arrangement of a bunch of pairs on top in several lines. The new design allows for the addition of any number of pairs, which indicates the exchange’s plans for active development and the addition of new coins and trading pairs. Reminds me a little of poloniex, huobi.

A message for those who shit and bomb in the Exmo chat:

You’ve gotten used to the VKontakte wall and you’ll get used to the new Exmo design.

I approve.

Information presence

https://exmo.com/?ref=270931 - official website of the exchange (only for those registered using my ref will be available automatic trading or signal robots)

https://exmo.me/ - official mirror (if you, like me, do not have access to the main site)

https://twitter.com/Exmo_com - official Twitter

https://coinmarketcap.com/exchanges/exmo/ — CoinMarketCap

https://bitcointalk.org/index.php?topic=486617.0 - topic on BitcoinTalk

Country of origin: obviously Russian roots, but various sources also mention Great Britain and Spain.

There is a lot of information on the Internet, both good and bad, as usual. As I noticed, there is always more bad about any exchange, because if a person is doing fine and there are no problems, he trades calmly and does not waste time on laudatory reviews, but as soon as the coin freezes during I/O, for example, the fan turns on, which watered, well, you understand with what.