AMA session with Dukun Bitcoin — Technical Dive into Building a Trading Bot

Welcome readers to our AMA series with bot authors. In this session, we are honoured to have Dukun Bitcoin with us to share about his past experiences in trading and insights. Dukun Bitcoin participated in the Serum x Bonfida bot trading competition in May and won a PnL prize. He has launched Dukun Cloud strategy on Bonfida Bots as well.

Welcome Dukun Bitcoin.

Q1: First of all, could you please kindly introduce yourself, and tell us a bit more about your past experiences, involvement in crypto trading and what got you into automated trading?

I’m called Dukun bitcoin, from Indonesia. Past experience was related to trading in stocks and forex. Starting from 2017, my friend introduced me to crypto, which is awesome! Since then I have created a crypto channel to share my knowledge in trading.

In 2018, when crypto market turned super bearish, I started to think that manual trade was really time consuming and not effective, so I learned about automated trading and picked up Tradingview (pine script) and here I am doing automated trading effortlessly. Before Bonfida, I was also one of the strategy managers on the usenobi.com platform.

Q2: That’s great to know that you have both trading experiences in traditional finance as well as crypto trading. How does trading in traditional finance compared to crypto trading? Could you please elaborate a bit more on similarity or difference you find about those?

Traditional finance is really boring, especially stocks. In Indonesia we can’t short, and there’s a limit moving price. Stocks can go up/down max 25% while crypto… 50%-100% is very common, and traders like us love volatility.

Q3: Then let’s delve a bit more into trading specific questions. Automated trading vs human trading. What do you prefer? When it comes to trading do you feel that there is one strategy that can be applied to all market conditions? If not, why is that?

Of course I prefer automated trading. I think my strategy is best in certain market conditions. Usually we can’t expect a strategy to work in all kinds of market conditions. A different cryptocurrency pair has different market behaviour.

For example, my strategy works well in ETH/USD, if apply it to SOL/USD its gonna break.

Q4: Knowing that you are a loyal user of Bonfida Bots, and have participated in our first bot trading competition as well as posting strategies on our platform, we wonder what are some of the advantages and disadvantages of trading bots in your opinion?

From the start how would you plan and go about your bot creation.

Any tips for the audience when creating strategies on Bonfida Bots?

I’m really impressed with Bonfida Bots. It’s very easy to use

Advantages:

1. effortless

2. easy money = auto trade

3. no longer emotional trades

Disadvantage:

1. choppy market will lead to bad trades

Usually I will look into multiple indicators and learn their behaviours.

After that, I backtested it with Tradingview and ran my own analysis. When I’m confident enough I will run it with real money to see if it works.

Q5: That sounds like a thoughtful plan. Could you please kindly talk a bit more about indicators that you use most frequently for your trading strategies?

Some of my favorite indicator are Average True Range and Ichimoku Clouds. Those indicators work better in trending markets. I use ATR to filter some “noise”.

Q6: Maybe you can briefly explain what ATR and Ichimoku Clouds are in case some of our audience is not that familiar with those terms?

Ichimoku clouds are really simple.

Above cloud = buy, below cloud = sell

But, the best way to trade with Ichimoku is when all conditions indicate the market is bullish (there are 3–4 conditions). Feel free to google it for more detailed explanation.

Q7: If we go to the explore page, and we can see your current strategy Dukun Cloud, could you please introduce this strategy to our audience?

So like I mentioned above, Ichimoku is really good at riding the waves.
Since the competition till now is up 97.2%, I will tweak this strategy if the market starts to flip.

Hope you like the session with Dukun Bitcoin.

Bonfida Bots is a platform that not only helps experienced traders automate their trading strategies on Serum with native TradingView integration, but also allows users to subscribe to existing strategies, easily and on-chain.

Go to https://bots.bonfida.org/#/explore for more information about current strategies.

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None of the above is financial advice.

Bonfida does not provide services to personal accounts of current residents of the United States of America, Cuba, Crimea and Sevastopol, Iran, Syria, North Korea, or Antigua and Barbuda.

FIDA is not offered within the United States or prohibited jurisdiction.

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