Trading and trading bots are not so easy to access because of the vocabulary used. Here are some definitions that will be particularly useful to create your cryptos and bitcoins trading bots on Botcrypto.
- API : the interface that allows an independent service to send orders on your behalf on an exchange. Learn more about API keys.
- Backtest : a simulation of a strategy in the past.
- Bitcoin : one of the best-known cryptocurrencies, abbreviated as BTC or XBT.
- Candle : represents a period on a candlestick chart. A candle consists of a body and two wicks. Learn more about candlestick chart.
- Exchange: a platform for buying and selling cryptography. Example : Kraken, Binance, …
- Fundamental analysis : a method of analysis in which we look at the fundamentals of an asset (e.g.: the user base is growing, a new product is soon ready, …) in order to predict the future evolution of its price.
- Order : a buy or sell order.
- Market order : an order in which the volume is specified but not the price. Execution of the order is usually immediate and at the “best” current price.
- Limit order : an order in which volume and price are specified. It is not known when the order will be executed.
- Pair : the listing of one asset against another. The BTC/USD pair represents the quotation of the bitcoin (BTC) against the dollar (USD).
- Private key : a part of the identifiers necessary to connect to the API of an exchange. THIS IS SENSITIVE DATA.
- Public key : a part of the identifiers necessary to connect to the API of an exchange. THIS IS SENSITIVE DATA.
- Technical analysis : a method of analysis in which we look at charts of an asset and technical indicators in order to predict the future evolution of its price.
- Technical indicator : mathematical formula based on the price and volume of an asset to derive new information.
- Time unit (UT) : represents the duration of a candle.
- Trade : a trade is composed of two orders.