I am an absolute beginner. I know nothing about trading. Is gunbot safe for me?

[pepperbot]

First of all, I'd like to say that I bought gunbot because of the promotional prices but I have yet to even install it. 1% compound interest daily is what grabbed me (if I tune the bot right) but unfortunately, this is literally the only thing I know. All I know is how to calculate compound interest!

I literally know nothing about trading. I don't know how to read graphs, what the candle sticks mean, or understand the lingo/abbreviation. I am a single-celled organism in the trading world!

Now, I've read a bit of the wiki and I've reached the point where it advices novice users to go with the emotionless strategy. I will be going for that I guess but even then, you have to set parameters and I don't know how to go on about that.

Where does someone like me learn about what's happening? I want to use gunbot knowing how it works inside and out.

[sloaleks]

Generally, read the wiki, over and over. With starters, even stock parameters are good and safe. Really nothing much to set apart from your API key and secret. Then select the pairs, choose some pairs from the first page on coinmarketcap (good trade volume and sideways moving), set only your trade limit in the strategy and start the bot. Set the trade limit to something low for the first two weeks. Do not make my mistake and poke the strategies over and over, if for instance, nothing much happens in a day. Then wait and watch.

[pepperbot]

Generally, read the wiki, over and over. With starters, even stock parameters are good and safe. Really nothing much to set apart from your API key and secret. Then select the pairs, choose some pairs from the first page on coinmarketcap (good trade volume and sideways moving), set only your trade limit in the strategy and start the bot. Set the trade limit to something low for the first two weeks. Do not make my mistake and poke the strategies over and over, if for instance, nothing much happens in a day. Then wait and watch.

I am really sorry if this sounds silly, but where do I know what the things I've bolded mean? Is there a sort of word definition glossary somewhere? I know that it might sound very basic and it might be absolute basic knowledge amongst traders but I would also need to know these first.. Sorry and thank you. Also, I will surely not be messing around with strategies too much and will follow what the wiki told me to follow as a novice, and that'd be the emotionless strategy. Is this sound thinking? Thanks again.

[sloaleks]

I am really sorry if this sounds silly, but where do I know what the things I've bolded mean? Is there a sort of word definition glossary somewhere?

yes, there is. in the wiki. each parameter of the strategies has a description.

I know that it might sound very basic and it might be absolute basic knowledge amongst traders but I would also need to know these first.. Sorry and thank you. Also, I will surely not be messing around with strategies too much and will follow what the wiki told me to follow as a novice, and that'd be the emotionless strategy. Is this sound thinking? Thanks again.

Don't mess with the strats AT ALL in the beginning. Just adjust your trade limit on "emotionless" in the strategies page, disable double up, save and leave the rest. In the bot page, just add your exchange's API and secret, then save. Then go to the setup page, add your pairs with chosen strategy ("emotionless" in your case) and exchange, save, go to the first page and start the bot.

[rmcc4444]

I've just one through the process of being a newb. I still am but I'm documenting all of the questions I had during the process and will be creating a FAQ in the coming days.

[pepperbot]

I've just one through the process of being a newb. I still am but I'm documenting all of the questions I had during the process and will be creating a FAQ in the coming days.

I'll surely be reading it!

[tblim]

There are also several youtube videos. Most of them are promotional, but you can get the general idea of how it works. As others suggested, read the wiki and the forum. If you get stuck, you can ask questions in this forum.

[pepperbot]

I am really sorry if this sounds silly, but where do I know what the things I've bolded mean? Is there a sort of word definition glossary somewhere?

yes, there is. in the wiki. each parameter of the strategies has a description.

I know that it might sound very basic and it might be absolute basic knowledge amongst traders but I would also need to know these first.. Sorry and thank you. Also, I will surely not be messing around with strategies too much and will follow what the wiki told me to follow as a novice, and that'd be the emotionless strategy. Is this sound thinking? Thanks again.

Don't mess with the strats AT ALL in the beginning. Just adjust your trade limit on "emotionless" in the strategies page, disable double up, save and leave the rest. In the bot page, just add your exchange's API and secret, then save. Then go to the setup page, add your pairs with chosen strategy ("emotionless" in your case) and exchange, save, go to the first page and start the bot.

Thanks for replying. I tried doing this but when I am on the strategies tab, I only see 3 strats. That's bbstepgain, Stepgain, and Bollinger band. Below these 3 strats' columns I see the Advanced mode window with emotionless listed under subject. How do I set up emotionless from there? There doesn't seem to radio box that makes me select emotionless out of other strats in the list and proceed by clicking save. Also, you told me to adjust my trade limit to emotionless but it seems like trade limit is a numerical value. It's set to 0.01 by default.. Sorry for asking all these questions but I'm quite confused.

[sloaleks]

you haven't read the wiki have you? go and read that first. I said, set your trade limit in the strategy "emotionless". and yes, only 3 strats are in graphic mode, the rest you set in text mode. you know how to use a computer mouse and its scroll wheel? OK, now go and set the trade limit on emotionless. If you can't do that, then I'm affraid gunbot isn't for you.