Create and Backtest Your Automated Crypto Trading Strategy in Less Than 5 Minutes

Create and Backtest Your Automated Crypto Trading Strategy

Backtesting is one thing that many feel wary of. At Cryptohopper, this reservation is well understood, and is, therefore, comforted with a feature which allows the user to backtest without any risk for free of cost. Cryptohopper is a bot that has been built while focusing on the comforts and desires of traders to allow them to perform at their best capacity.

The Backtesting Tool by Cryptohopper

Cryptohopper encourages its users to take the past use insights as a guiding reference, which can efficiently use in foretelling the coming trading pattern. All this is possible with the help of the backtesting tool. It is one tool that gives the user the required room to customize the bot as per their trading needs. For instance, you can test the configuration of the bot, make desired changes to the settings, and to finally bring into effect all the changes that you have made into your trading bot.

In this way, you will be able to easily backtest your strategies’ effectiveness in the past, their potential profitability in the future. A key function in the trader’s toolbox.

Refer to the Past Data and Test Trade Strategies

The advantage of the backtesting tool is that it allows the user to gauge the performance potential of the past trade strategies easily, and thus, use the wisdom gained to guide in the future strategy-making process.

By studying past trade-based strategies, it becomes a very useful manner to reap the best results from past strategies. There can be very insightful wisdom reaped out of this process, such as the user can better learn the perfect points to sell or buy the crypto coins and which settings are and indicators are more effective. It further, can act as marking points for a smart fruitful future trading practice that will results in better results and profit.

Other Benefits of Using Backtesting Method at Cryptohopper:

  • Cryptohopper allows users to check every individual crypto coin to be backtested critically. The backtesting can be done with the help of real-life chart data.
  • Backtesting may sound like a cumbersome and time-consuming process, but the reality happily surprises the users. The user can bring into effect the configurations in no time. It is rather an instant process.
  • Cryptohopper has paid special attention to make the backtesting process very easy to assess and configure for every user.
  • Although the bot is designed to work for you and save you your precious time and energy, it offers you an in-depth analytical reporting structure. It empowers the user to go through every spot where the hopper has made any buying or selling transaction.
  • Backtesting is more like learning from the past. It paves a solid foundation for the future and still allows the room for the future to unfold in its unique ways. The user can adapt his or her trade strategies based on past trading references.

Another Way to Use Cryptohopper’s Strategy Backtesting

Cryptohopper allows the users to test their preferred strategy straight into the Strategy Designer. Yet, another way is to input the backtesting tool with your strategy and see it yourself how many and what quality of buy or selling signals it generates.

Backtesting should not be undermined, as it is a valuable tool to see whether the chosen strategy is of any good or not. It saves you from embarrassing real-time losses. Backtesting any strategy can give you a good insight on how many signals will you get while keeping your hard-earned safe and sound, and to be put to use in nothing but a beneficial manner. As an extension, you can also try the risk-proof paper trading method to check out the efficiency of your strategy.

Backtesting and the related supporting tools and other methods that Cryptohopper offers is a smart way to ensure confident, successful trading. Once you have made sure that all the components of the strategy are working well, all you then need to do is to upload and enable your settings and configurations on your Hopper bot.

Start optimising your strategies with the backtesting tool with a 7 day free trial with Cryptohopper!

Leon Teague has recently joined FinanceOrange team as a Sub-Editor. He has years of experience in writing about finance industry and also worked for local newspapers previously. He is an intense traveller. In his free time, he loves to explore unexplored places.

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