Trading bot testing phase
Trading bot testing phase
BOTS wants to make sure that everyone in the world has the opportunity to build a second, passive income through investing. To do so, we need the help of our bot creators. But what can you expect from us, what do we expect from you, and how do things work? Let’s tell you all there is to know.
Let’s take a look at the testing of the trading bots in the BOTS app. What is the Bots Test category, and why do we have another testing phase?
The BOTS Test category
If you open the app, you’ll see the BOTS Test category. In this category, you’ll see all the different bots that are going through the testing phase. As you might notice, each bot in the testing phase has a blue dummy icon. This dummy is automatically assigned to these bots, so the BOTS app users can see that they are still in their testing phase.
During this period, your bot will get a maximum market cap of €5K. This way, you can get some experience with live trading without taking a prominent position in the market just yet.
Why is there another testing phase?
Even though we’ve finished the backtesting and paper trading phase, there’s still a significant difference between paper trading and live trading. This testing phase is ideal to discover whether your bot can achieve the same results in a live environment as it did in the backtesting and paper trading phase. Testing trading bots carefully is essential. In the end, it is the BOTS app users’ funds that you’ll be trading with.
How long does the testing phase take?
The duration of the testing phase differs from bot to bot. Some bots might provide the data we need to confirm their performance within two weeks. Other bots might need a few weeks or even a few months to show their live trading performance.
It all depends on a few factors: one of them being the trading frequency. If your bot trades twenty times a month, we’ll have collected the needed data relatively quickly. But if your bot trades once or twice a month, it’ll take us a bit longer to collect all the information we need. Besides, we need to make sure that your bot stays stable over a more extended period before we’re ready to release move out of the testing phase.
How to set up for the testing phase
All you need to do is stay in touch with the Bot Creator Team. After you’ve finished the backtesting and quarantine period, they’ll need to check the results. Once all of these are analysed, they’ll schedule a date for your official launch.
When that moment is finally there, you get to switch your URL from paper to production. You can retrieve this URL in the documentation of our BEM API, which you can find on docs.revenyou.io.