How to Set Up Your First Deriv Bot in Under 30 Minutes
Getting started with automated trading might seem intimidating, especially if you don't have a background in programming. The good news is that Deriv's Bot platform is designed to be user-friendly, allowing even complete beginners to create and deploy trading bots.
In this step-by-step tutorial, we'll walk you through the process of setting up your first Deriv Bot in under 30 minutes, from account creation to launching your first automated strategy.
Step 1: Creating Your Deriv Account
Before you can start using Deriv Bot, you'll need to create and verify a Deriv account. Head to the Deriv website and click on 'Sign Up' to begin the registration process.
You'll need to provide some basic information and verify your identity according to regulatory requirements. This typically involves submitting proof of identity and address, though the exact requirements may vary depending on your location.
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Launch Trading BotStep 2: Accessing the Bot Builder
Once your account is set up and verified, log in and navigate to the 'Bot' section of the platform. This will take you to the Bot Builder interface, where you'll create your automated trading strategy.
Take some time to familiarize yourself with the interface. The left panel contains blocks that represent different trading actions and conditions, while the center workspace is where you'll build your strategy by connecting these blocks.
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Join Telegram GroupStep 3: Building a Simple Strategy
For your first bot, we'll create a simple strategy based on moving average crossovers. This is a classic trading approach that's easy to implement and understand.
Drag a 'Trade Parameters' block to your workspace to define your trade size and type. Then add a 'Moving Average' block and set it to calculate a 5-period MA. Add another for a 20-period MA. Finally, add a condition block that triggers a buy when the 5-period MA crosses above the 20-period MA.
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