In the world of online trading, automation is becoming increasingly popular, especially with platforms like Deriv. Deriv bots can help you execute trades based on pre-set rules, allowing you to trade efficiently without manually monitoring the markets all day binary bot. For those who aren’t programmers, the idea of creating a trading bot might seem intimidating. The good news? You don’t need to know how to code to create a custom Deriv bot.
What Is a Deriv Bot?
A Deriv bot is an automated trading tool that places trades on your behalf based on a predefined strategy. These bots follow specific logic — for example, buying when a market drops to a certain level or selling after a profit has been made binary bot. Deriv offers a visual programming interface that lets users drag and drop components to build their own bot logic without having to understand coding.
Step 1: Sign In to Your Deriv Account
To begin, make sure you have an active Deriv account. Once you’re logged in, navigate to the Deriv Bot platform. This is where all the magic happens. It provides an intuitive interface that simplifies the bot-building process through visual elements.
Step 2: Understand the Workspace
The Deriv Bot interface is built around a block-based structure. On the left side of the screen, you’ll find blocks grouped by category such as Market, Trade Types, Logic, Math, and Timing. These blocks represent different functions or commands the bot can perform.
The center of the screen is your workspace. Here, you’ll drag and connect blocks to build the logic of your bot.
Step 3: Choose Your Market and Trade Type
Start by selecting the market you want your bot to trade in, such as forex, synthetic indices, or commodities. Next, choose the type of trade you want to automate — for example, Rise/Fall or Touch/No Touch.
Drag the relevant blocks from the Market and Trade Types section into the workspace. This tells the bot where and how it should trade.
Step 4: Define Entry Conditions
This is where your trading strategy begins to take shape. Use logic blocks like “If,” “Then,” and “Else” to set entry conditions. For example, you might want the bot to enter a trade when the last tick is higher than the previous one.
You can also use mathematical blocks to create more advanced conditions, such as comparing moving averages or RSI values. All of these can be configured without needing to write code.
Step 5: Set Stake and Payout Preferences
Use the “Trade Options” blocks to define how much you want to stake and what payout target you’re aiming for. You can configure fixed stakes or dynamic amounts based on the outcome of the last trade — for instance, doubling your stake after a loss to recover faster.
Step 6: Implement Stop Loss and Take Profit
Risk management is crucial in trading. Use the “Controls” and “Variables” blocks to set rules for stop loss and take profit. This helps you avoid large losses and secure your profits when a target is reached.
You can also set a maximum number of trades per session or a maximum daily loss to add extra layers of protection.
Step 7: Test Your Bot in Demo Mode
Before going live with real money, test your bot thoroughly in Deriv’s demo account. This helps ensure that your logic works as intended and allows you to observe how the bot behaves in real-time market conditions.
Adjust and refine the blocks based on performance and continue testing until you are satisfied.
Step 8: Deploy the Bot Live
Once you’re confident that your bot performs well in demo mode, you can deploy it in your live trading account. Monitor it periodically, especially in the beginning, to ensure it’s operating as expected.
It’s also a good idea to regularly review and optimize the bot strategy to adapt to changing market conditions.
Final Tips for Non-Coders
- Start Simple: Begin with a basic strategy and gradually build complexity as you get comfortable.
- Use Community Templates: Explore existing bot templates created by other users. These can serve as a helpful foundation.
- Keep Learning: Even though you don’t need to code, understanding trading principles and indicators is key to building an effective bot.
- Always Monitor: Automated doesn’t mean risk-free. Always keep an eye on performance and make adjustments when necessary.
Creating a Deriv bot without coding is a game-changer for traders who want to automate strategies without diving into the world of programming. With a user-friendly interface, visual blocks, and powerful customization options, Deriv makes it possible for anyone to trade smarter and more efficiently.