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How Do I Find the Right Trading Bot?

  • Updated

Filter bots on the BitMEX marketplace using tags for author, directional strategy, technical indicators, and symbol. Evaluate each bot using metrics such as Total Users, AUM, Indicative ROI, and Indicative Max Drawdown. Bot types include Grid, Momentum, and signal-based strategies.

 

How do I search and filter bots?

Bots are tagged with relevant information, making it easy to search and filter. Tags include:

  • Author – Who created the bot.
  • Directional Strategy – Whether the bot is long-only, short-only, or neutral.
  • Technical Analysis (TA) Tags – Specific technical indicators or strategies used (e.g. Bollinger Bands, RSI, or Grid).
  • Symbol – The asset the bot trades.

You can filter using the search bar at the top, which provides filter options, or by clicking a tag on any bot to see a filtered list of matching results.

 

What metrics should I review when choosing a bot?

Each bot displays key metrics to help you evaluate its popularity, potential returns, and risks:

  • Total Users – The number of traders currently running the bot.
  • Assets Under Management (AUM) – The total USD value of assets managed across all users running that bot.
  • Indicative ROI – An estimate of potential return on investment based on historical performance.
  • Indicative Max Drawdown (coming soon) – The estimated maximum loss based on backtested data, helping you understand the bot’s risk profile.

 

What types of bots are available on BitMEX?

  • Grid (Neutral, Long, Short) – Places buy and sell orders at predefined intervals, creating a grid above and below the current price. Long grids only place buy orders and require a take profit level. Short grids only place sell orders and also require a take profit level. Neutral grids place both buy and sell orders to profit from price fluctuations in both directions.
  • Momentum – Enters trades based on the strength of price movements, buying when prices rise and selling when they fall.
  • Other (Signal-Based) – Opens positions based on specific signals such as technical indicators, fundamental news, or social sentiment, often placing market orders that react quickly to new data.

 

How are bot descriptions structured?

The author of each bot can create a name and short description. They may also include long-form descriptions and provide a TradingView chart to show the technical analysis the bot is based on.

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