Development of a trading bot for trading on the OKX crypto exchange

OKX Crypto Exchange is a decentralized trading platform powered by the OKX OKC blockchain. It offers users relatively low commissions, a high level of security, and maximum privacy. Actually, this is what makes it so popular among traders.

OKX is very loyal to beginners, and even provides several standard bots: grid, DCA, arbitrage and splitting. However, for professional trading, their capabilities, most often, are not enough. In this article, we will talk about the advantages of trading bots, what technologies are used to develop them, and how the production process itself goes.

First of all, let’s understand what bots are for trading cryptocurrency. In fact, these are special programs that are capable of analyzing markets without the participation of a trader, as well as buying and selling cryptocurrencies based on various triggers, patterns, and algorithms.

The main task of any trading bot is automation. It takes care of all the routine tasks and allows the trader to focus on improving their strategies and increasing performance. But the advantages of using a crypto-bot do not end there. It also provides:

• Fast response to signals. Bots instantly react to even the smallest changes in the market, allowing traders to earn more on the volatility of the crypto market.

• Multitasking. Unlike a human, a bot is able to perform many operations at the same time: monitor quotes, open and close dozens of orders at the same time, etc. As a result, the efficiency of the trader increases significantly.
• Lack of emotion. As practice shows, high emotional stress often leads to trader’s mistakes and losses. However, bots are not affected by this factor. In their work, they are guided solely by mathematical algorithms and market movements.
• Management of risks. Risks are an integral part of trading. Therefore, to minimize their impact on profitability, the bot can be embedded with appropriate strategies, such as stop loss, trailing stop loss, and stop signals.

To develop a trading bot, our team uses the CCXT library. It provides two types of API – public and private, and can integrate with over 120 cryptocurrency exchanges, including OKX, Binance, Kucoin, and more. This means that in the future, the trader will be able to use the created bot to trade on several exchanges at once, which is definitely an advantage.

Also, the advantages of CCXT include the fact that it supports several popular programming languages ​​at once – Python, PHP and JavaScript (Node.js). This provides developers with great flexibility in the development process and allows them to choose the optimal stack for a particular project.

The front-end part of the trading bot based on the CCXT library can be built using standard JavaScript/HTML/CSS technologies or using reactive frameworks such as Vue.js and React.js. As a rule, reactive technologies are more preferable, because they significantly increase the performance and responsiveness of the interface.

To improve the efficiency of a trader, our team can also implement a mobile application. With its help, the user can manage the trading bot from anywhere, without being tied to the workplace, and even in conditions of poor network coverage. Accordingly, for the technical implementation of such a product, the following technologies will be involved:

• Java/Kotlin/Swift – for native development on IOS and Android.
• The Flutter framework and the Dart programming language are for cross-platform development.

In the second option, one application is created that works on both operating systems at once. On the one hand, this allows you to save about 50% of the budget, but on the other hand, you will have to make small concessions in performance.

The technical development of a trading bot on OKX consists of six main stages. Let’s take a closer look at what work is done on each of them:

• Collection of information. Before proceeding with the technical execution, the team carefully studies the requirements of the customer and draws up top-level documentation.
• Prototype. The main goal of this step is to save time and money. From the first time to create an effective product that can perform the tasks assigned to it.

In fact, during design, a mockup of a trading bot is developed, which includes interface warframes, a description of the functionality, block diagrams of the main modules, and product mathematics. Further, the prototype is approved with the customer and becomes the basis for developers at all subsequent stages.

• Design. Creation of the visual part of the trading bot: buttons, icons, screens, charts and other elements. It is important that the GUI looks consistent, attractive and user-friendly.

• Frontend. Development of the client part of the trading bot with which the trader will interact on the side of the browser or mobile device. The frontend includes layout, creation of animations, event handlers and other interface components.
• Backend. Development of the server part of the bot, which is responsible for storing data, processing client requests and mathematical calculations. When creating this part, specialists configure the servers, write the functional code, form the database architecture and connect the crypto exchange API. Also, if necessary, our team can create and train neural networks that will allow the bot to make more efficient decisions when working in the markets.

• Testing. When the development is completed, QA engineers perform multi-level testing of the bot. This allows you to make sure that the bot does not contain errors and is ready to run.
• Technical support and development. The cryptocurrency industry is changing very quickly. Therefore, after the bot is released, you need to focus on its continuous development and improvement. Only with this approach, he can always meet the requirements of the market. To do this, we offer customers to connect the project to our qualified technical support.

The OKX exchange trading bot helps you improve your trading strategies, increase profitability and reduce the risks associated with volatility. In addition, he is able to take on routine tasks, which frees up a significant part of the trader’s time. Simply put, this is an important tool, without which it is difficult to imagine professional trading in the cryptocurrency market.

For the development of such projects, AVADA MEDIA is ready to provide already formed teams of specialists who will help design, implement and bring an effective product to the market. While working on a project, we always take into account the individual requirements of the client, and also offer options for optimizing and improving the bot, based on our own rich experience in the crypto industry.