The trading configuration will allow you to modify the default settings that will be used by Cornix when trades are created for you automatically.
The purpose of this article is to introduce you to crucial concepts you need to know regarding the trading configuration and to provide you with a general overview of the different configuration parameters that are offered by Cornix. Before actually diving into the configuration and starting to modify the parameters yourself we highly recommend that you go over in-depth explanations on each specific parameter which can be found here.
This tutorial will use the Telegram bot to demonstrate some concepts, but everything explained here also applies to our mobile app.
The information that will be covered in this article includes:
We also created a short video tutorial about the Trading Configuration:
Why Should You Care About the Trading Configuration?
Your selected trading configuration can have a significant impact on your trading results. In addition, without understanding your trading configuration you might sometimes not understand why a trade behaved a certain way. For that reason, we recommend that you understand the configuration parameter that you modify or are used by your signal provider.
Accessing the Trading Configuration Section (in the Telegram Bot)
To access the configuration section in the Telegram bot, visit:
Main Menu -> Bot Configuration -> Trading -> client name
Each client can only have one trading configuration. If you wish to have different configurations for each channel that is connected with auto-trading to the same client, we suggest using the Duplicate client functionality.
Trading Configuration Overview Screen
In the next screen, you will see the main trading configuration page which includes an overview of the current configuration parameters and buttons that will redirect to the different sections which will allow you to modify these parameters.
Figure 1: Trading configuration overview screen
In the overview section, on the right of most of the parameters, you can see in parenthesis the text Override which can be either set to Yes or No, which determines if the override flag is set for the configuration parameter. The Override mechanism allows you to choose which configuration between your personal configuration and the signal configuration will take priority when trades are created on your behalf using Auto-Trading and One-Click Follow. For more information on the override mechanism.
The import configuration section will allow you to import a configuration that was exported by one of the admins in the Telegram channels you are subscribed to.
Trading Configuration Sections Overview
In this section, we will provide a quick overview of the different trading configuration sections. As mentioned, this article will only briefly go over each of the configuration sections. For an in-depth explanation of the different sections and parameters please visit the configuration section in our Zendesk knowledge base using the link in the description.
General Section - In the general section, you will be able to set the Amount Per Trade parameter which will determine the default amount that will be used for every trade that is created automatically or using the One-Click follow. The Close Trade on Take-Profit before Entry parameter, as the name suggests, will allow you to choose whether or not you want your automated trades to close when a take-profit target is reached before any of the entry targets.
Trailing Section - The trailing section will allow you to set the default trailing entry, take-profit, and stop values.
Strategies Section - The strategies section will let you choose your Entry and Take-profit strategies. Your selected strategy will determine the percentage of the trade amount that will be bought or sold in each Entry or Take-profit target. For your convenience, Cornix offers a variety of different strategies by default, but you will also be able to create custom strategies. In addition, the strategies section will let you set your default number of targets to be used when a signal is posted with an entry zone instead of targets with specific prices.
Margin Section - The margin section will only be visible when the selected client is connected to an exchange that supports margin or futures trading and will allow you to select the default leverage, and to enable or disable the automated creation of long and short trades.
Auto-Trading Filters Section - Lastly, the auto-trading filters section will allow you to define a set of rules that will determine the cases where Cornix will filter out signals which will prevent automatic trades from being created in your account. For example, you can filter out signals with specific symbols or pairs, or signals where the symbol price is below a certain threshold.