Frequently Asked Questions

1. Introduction

1.1 What is SavyBot? Is it a trading grid bot?

Savybot is not a simple grid trading bot, but it is an advanced trading bot that is meant to operate in an automated way without the need for the user to set complex trading parameters. The user needs to choose the coins to trade, the volume of the trades and the trading mode and it is ready to go.
The decision on when to open or close a trade is made by Savybot in an automatic way based on algorithms which are continuously improving day by day.

1.2. Do I need to be an experienced trader to use SavyBot?

Absolutely NOT, Savybot decides autonomously when to open or close a position and does not have complex parameters to set.

1.3. What are the timeframes on which Savybot operates? Can I choose them?

There is no specific time frame and it is not possible to set it.

1.4. Can I set the TP and SL?

It depends on the trading mode: in “Prudent” and “Billionaire” it is possible to set a target Take Profit %. Please consider that Savybot decides autonomously when to open or close a position. SavyBot most of the times is closing the positions with profit, but it may happen that it closes some positions with loss. This is done automatically in order to maximize the performances.

1.5. Is Savybot using leverage or open short positions?

No, since margin and leverage trading on cryptocurrencies is forbidden in some countries, Savybot only open long positions without leverage.

1.6. I am using another trading bot together with Savybot on my exchange. Is it an issue?

No, in general, but it is not reccomended. Firstly, you have to be sure that the other trading bot is not selling by mistake the coins bought by SavyBot or that the other trading bot is not consuming too much USDT needed by SavyBot to operate. Furthermore the Wallet total value would be influenced by the other trading bot or by manual trades. In addition to that, there are some limitations on the Exchange API call rates, so by using more than one trading bots on the same exchange account may have a negative impact on the trading bot functionality.

1.7. What is the reccomended amount of USDT wallet to use SavyBot?

The reccomended wallet size starts from 1000 USDT, though at least 2000 USDT is reccomended. You may use lower wallet sizes but SavyBot performances may be negatively affected.

1.8. Can I try SavyBot with virtual money?

No, but you can try Savybot for one month for free before buying the annual subscription.

1.9. Should I deposit money on SavyBot to use it?

Absolutely not. Savybot connects to the user exchange through the exchange APIs and the exchange APIs keys set by the user. Savybot only handles the trades, not the user account or deposits or withdraws.

1.10. What is the price of Savybot?

It is possible to evaluate Savybot performances for one month for free. Than you need to buy an annual subscription. Please refer to the pricing section.

2. Performances

2.1. What are the main statistics indicators in the home page?

The top widget in the main dashboard contains some useful statistics about the performance of the engine:

- Wallet: this is the current wallet value in USDT with the percentage of the net profit generated by the engine.
  Please note that the wallet value may be influenced also by manual trades made by the user on the exchange and by other bots operating on the same account.
- Trading profit: this the total profit generated by the closed positions. The trading commissions of the exchange (Binance, Kraken, etc.) are already taken into consideration.
- Positions: this is the open positions value in USDT and their virtual profit/loss percentage.
- Net profit: this is the net profit generated by SavyBot calculated as the difference between the trading profit and the virtual loss/profit determined by the open positions.
- Profit orders: this is the total number of closed positions, specifically the number of closed positions with profit above the number of closed positions. SavyBot usually closes the positions with profit, but it may happen that it closes a position with loss to get rid of some worst positions.
- Fee mode: this is the exchange fee mode. For instance on Binance is recommended to set the option to pay the trading commissions with BNB to have lower fees. See the related doc.

2.2. How can I evaluate the performances of Savybot?

You can evaluate the performances of the engine by looking at the top widget statistics in the main dashboard. In particular the trading profit and the net profit.

2.3. How can I check the performances of SavyBot on a specific cryptocurrency pair?

The Coin Stats page resumes some statistics of the trades and profits generated on a specific coin as well as statistics about the percentage of positions closed on the same day, on the same week or on the same month.

3. Setting SavyBot

3.1. How can I configure Savybot and what is the meaning of the parameters?

SavyBot has a very little number of parameters in order to keep the configuration process very simple.
The only parameters to set are the coins to trade, the trading volume for each trade and the trading mode. The trading mode represents the level of aggressivity of SavyBot when it trades on the market.

3.2. What is the meaning of SavyBot trading modes?

SavyBot has three trading modes named “Prudent“, “Billionaire” and “Smart“. Regardless of the trading mode, Saybot decides when to buy a cryptocurrency and when to sell it. The difference between the trading modes is the level of greediness on the market and the possibility or not to set a trading volume. Below the key points of the three trading modes:

Prudent: trading mode with a low greediness and the possibilty to set a starting trading volume for the orders that SavyBot will place on the market, a take profit percentage and the maximum number of open positions for a specific trading pair.
Billionaire: trading mode with a high greediness and the possibilty to set a starting trading volume for the orders that SavyBot will place on the market, a take profit percentage and the maximum number of open positions for a specific trading pair.
Smart: trading mode with a balanced and dynamic greediness with an automatic selection of the trading volume.

3.3. How can I choose the number of coins to trade and the trading volume?

The recommended number of coins and trading volume for each trade depends on the size of the initial wallet and the trading mode (Prudent, Billionaire, Smart).
Below a table with some recommended combinations based on the trading mode and considering the simulated mode wallet of 1000 USDT. In case of bigger wallet size, these values may be increased proportionally.

WARNING! Please, consider that by choosing a higher number of coins or a higher value of trading volumes with respect to this table may increase the risk of high drawdown and poor performances in case of bear market.

Wallet size	Coins number	Trading mode	Trading volume (USDT)
1000	1	Prudent	80
1000	2	Prudent	50
1000	3	Prudent	40
1000	4	Prudent	30

1000	1	Billionaire	30
1000	2	Billionaire	20

1000	3	Smart	Automatic

4. TAXES INFORMATION

SavyBot does not handle any kind of tax reports since the Bot does not operate money transfers or payments.
For all fiscal information and reports you must always refer to the Exchange to which the Algorithm is linked.
For example on Binance Exchange there are dedicated sessions for dowloading the history of Trading, Swap and Staking transactions that you will need for your tax forms.

5. DISCLAIMER

The material contained on this site is not an investment solicitation.

Whoever operates on the financial markets does so in complete autonomy and under their own complete responsibility, therefore the author of this site and his collaborators decline any responsibility regarding any operational investment decisions by the reader.

Past or future economic performance results shown on this site are examples only and do not guarantee future results.

Trading generally involves a high degree of risk and can result in the loss of large sums of money, even of the entire capital paid into the Exchange