Running Multiple Bots
This section provides information and guidance for running multiple Algo Bots on exchange accounts.
It's important to understand how to run multiple bots successfully and how they will interact with each other if multiple bots are running on the same exchange account. Here is an example of what will happen when assigning capital to two Algo bots on the same account.
If you have $200 and assign 50% to each Algo bot, the first bot would enter with $100 USDT, then, if the second bot received an entry signal it would enter 50% of the remaining capital which would be $50 as opposed to the expected $100. So if you want to have more than one bot running and know exactly how much capital they can use to trade, it's best to set each bot up on its own account and provide it with some starting capital to trade with. This way the bots are isolated from each other an no interference or unexpected outcomes will be caused.
It can be time consuming setting up multiple exchange accounts for each bot you wish to use. To help with this FTX have a sub account feature available. FTX Sub accounts allow users to easily create isolated sub accounts within their main FTX account. Each sub account can be allocated funds from the main account and each sub account can generate it's own API key. In this way it is easy to create sub accounts and have multiple bots running on one exchange.
Tip: When using sub-accounts on FTX make sure to set the "spot margin feature" for each sub account that is using spot market Algo bots. Margin algo bots will be along shortly, so stay tuned for that!
Yes, if you provide an Algo bot with USDT and set it to use 100% of the capital, each time it enters a trade it will use all available funds to trade and this will cause a compounding effect.
Currently it is possible, if you wish to provide the account with enough USDT to cover the total maximum all the bots require to reach their limit. The trade limit is currently $2500, so if running two bots on the same account, you could provide the account with $5000 USDT and set each bot to 100%, this way the first bot would enter 100% but it's limit is $2500 so instead of using $5000, $2500 would be left over. The second bot would also enter 100% and would use the remaining $2500. So it's possible to have many bots on one account if you are providing them with the max they can trade and provide enough USDT for all the bots to enter at the same time with the max amount they are currently allowed to trade.
If you decide to allocate a fixed amount per bot, things are easier because the bot will not use more than this amount for each trade.
You will have to modify the bot's characteristics yourself if you want to increase the position size because the bot will not auto-compound.
We remind you that trading can lead to the loss of your capital. UpBots provides tools and an interface but is not responsible for any losses that may arise from your trades or those of bots, market inefficiencies, losses in value or any other technical problems. Always be aware of the risks you are taking.
Last modified 7mo ago