An Introduction to Deriv’s DBot – The Future of Trading

The financial markets are becoming more accessible to traders worldwide, and as they evolve, so do the tools that assist traders. DBot by Deriv stands as a testament to this evolution.

DBot is not just any trading bot; it’s a customizable platform that allows both beginners and experienced traders to tap into the benefits of algorithmic trading without diving deep into the complexities of coding. It is a unique blend of simplicity and sophistication.

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Constructing Your Trading Strategy with DBot

Imagine constructing a house, brick by brick. Now, think of these bricks as the blocks in DBot. Each block or brick contains specific trading instructions. As you assemble these blocks, you’re essentially building a comprehensive trading strategy.

DBot simplifies this construction process by offering four foundational blocks:

Trade Parameters:

Define the underlying assets and markets.

Purchase Conditions:

Dictate when to enter a trade.

Restart Trading Conditions:

Set conditions for repetitive trades.

Sell Conditions:

Determine when to exit or close a trade.

If you ever make a mistake or want to make adjustments, the DBot dashboard is forgiving, allowing for block deletions and modifications.

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Expansive Market Offerings with DBot

Traders are not limited in their choice of markets. Whether it’s the foreign exchange market with its vast currency pairs or stock indices that encapsulate the health of economies, DBot has it covered. Commodities like gold and oil? Check. The intriguing world of synthetic indices? Double-check. A single glance at the Asset selection list will provide an exhaustive list of available options.

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A Plethora of Trade Options

DBot offers a variety of options trading contracts, broadening the horizon for traders. Regardless of the contract type chosen, there’s no obligation to buy an underlying asset on Deriv. It’s all about predicting the future movement of an asset. Multipliers, another intriguing aspect, can amplify both gains and losses. It’s advisable to learn more about them, preferably through Deriv’s dedicated blog post on multipliers.

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Features that Make DBot Stand Out

DBot is more than just a basic trading platform. Its extensive suite of features elevates it:

1. Live Monitoring: Keep an eye on ongoing trades with real-time updates on the ‘Transaction’ and ‘Journal’ tabs.
2. Market Analysis: The ‘Chart’ tab offers real-time price movement analysis for the selected asset, aiding decision-making.
3. Strategy Management: Easily manage strategies through the menu panel. Whether you want to use ready-made trading strategies, import/export strategies, or even undo recent changes, it’s all a click away.
4. Robust Support and General Settings: DBot ensures you’re never lost. From accessing reports and transaction history to real-time chat support, everything is neatly placed for convenience.

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Dive Deeper with Advanced Strategies

DBot’s capabilities aren’t just restricted to basic functionalities. As traders become more comfortable and their strategies more intricate, additional blocks can be brought into play. These can be found under the ‘Utility’ and ‘Analysis’ tabs, providing avenues for advanced parameters and technical analysis. Deriv offers dedicated blogs for these subjects, ensuring traders can maximize DBot’s potential.

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Top Tips to Enhance Your DBot Experience

To truly master DBot, here are some insider tips:

• Context Menu Mastery: Every block in DBot has its own context menu. Right-clicking a block unveils a list of actionable items, each serving a unique purpose.
• Stay Updated with the Notify Block: Use the ‘Notify’ block to receive instant notifications for pivotal trade moments.
• Workspace Management with the Function Block: The ‘Function’ block can act as a placeholder, letting you declutter your workspace. It can encompass multiple blocks, ensuring a cleaner visual representation.
• Strategy Management: Don’t rely solely on temporary storage. Save your strategies on local devices or cloud storage like Google Drive.
• Utilize Ready-Made Strategies: DBot offers pre-built strategies. These are excellent starting points, especially for those new to algorithmic trading.

Deriv’s DBot is not just a trading tool; it’s a revolution. It democratises algorithmic trading, making it accessible to everyone, regardless of their technical prowess. Whether you’re dipping your toes into the world of trading or are a seasoned expert looking for an efficient tool, DBot is the answer. Dive in with a demo account, experiment risk-free, and explore the myriad possibilities DBot offers.

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FAQs about Deriv’s DBot

What is DBot and how does it help traders?

DBot is an automated trading bot by Deriv that allows both novice and experienced traders to execute trades without any coding. By attaching specific blocks like bricks, users can build trading strategies.

What are the 4 pre-set blocks provided in the DBot workspace?

The four pre-set blocks are:
Trade parameters
Purchase conditions
Restart trading conditions
Sell conditions.

How can users trade different markets with DBot?

DBot allows users to trade on various financial markets such as forex, stock indices, commodities, and derived indices. Users can see available markets and assets by clicking the Asset selection list in the ‘Trade parameters’ block.

What are the trading types available on DBot?

DBot offers different options trading contracts and multipliers, based on the asset chosen. Users do not buy the underlying asset but predict the asset’s future price movement.

How does one start trading with DBot?

Once a user selects a market, asset, and trade type, the bot is ready. The other parameters like stake amount and trade duration are pre-set. Users can then click the green ‘Run’ button to begin trading.

Can users see real-time information about their trades on DBot?

Yes, once a trade is initiated, its details can be viewed on the right side of the screen. Additionally, there is a ‘Chart’ tab that displays real-time price movements of the selected asset.

Are there any general features and settings available on the DBot platform?

Yes, besides DBot-specific functionalities, the platform provides general settings like reports for trade tracking, cashier options for transactions, and account settings for personal and security adjustments.

How can beginners get started with their first DBot strategy?

Beginners can use the 4 pre-set blocks provided in the DBot workspace. The mandatory blocks contain essential trading information, and users can set the market, trade type, contract type, and other parameters in the ‘Trade parameters’ block. Once all parameters are set, users can activate their bot by clicking the ‘Run’ button.