Creating a Bot
Creating a bot in ByBot takes a couple of minutes and consists of two simple steps. You select an exchange and trading pair, then configure the strategy parameters.
Step 1: Selecting Exchange, Trading Pair, and Strategy
In the first step, you need to specify three things:
Exchange
Select the exchange where the bot will trade — BYBIT or MEXC. Only exchanges to which you have already added API keys are shown. If the exchange you need isn’t listed — first connect it in the Exchange Connection section.
Trading Pair
Select a trading pair — for example, BTC/USDT, ETH/USDT, or another available pair. The trading pair determines which cryptocurrency the bot will trade.
Strategy
Choose a strategy:
- DCA (dollar-cost averaging) — the bot buys cryptocurrency in portions as the price drops and sells when it rises.
Learn more about strategies in the Trading Strategies section.
Step 2: Configuring Parameters
In the second step, you configure the parameters of the DCA strategy.
DCA Strategy Parameters
- Order size — the amount of the first buy order.
- Profit per trade — the percentage of profit at which the bot sells.
- Step between buy levels (%) — how many percent the price must drop for the bot to make the next purchase.
- Step multiplier — each subsequent purchase occurs with an increased step. For example, if the multiplier is 1.5, the distance between purchases grows.
- Volume multiplier — each subsequent purchase is made for a larger amount. This allows averaging the price faster.
- Maximum number of orders — how many times the bot can buy more of the asset as the price drops.
Budget table — below the parameters, a table is displayed showing how much money is needed at each buy level. This helps estimate the required budget in advance.
Calculation Panel
To the right of the settings form, there is a panel with automatic calculations. It updates in real time when parameters change:
- Total budget — how much money (USDT) is needed on the exchange balance for the bot to work with all settings.
- Expected number of trades — approximate number of trades the bot will make with current settings.
- Exchange fee — the fee the exchange charges for each trade.
The panel helps ensure you have enough funds on the exchange before launching the bot.
Tips and Warnings
If you see a warning when filling out the form — don’t ignore it. Here’s what can go wrong:
- Profit too low — if the set profit percentage is less than the exchange fee, trades will be unprofitable. Increase the profit per trade.
- Insufficient funds — the budget on the exchange is less than what the bot requires. Top up your balance or reduce the number of orders.
- Order size too small — each exchange has a minimum order size. If your order is below this limit, the bot won’t be able to place it.
After filling in all parameters, click the “Create Bot” button. The bot will be created and start working immediately.