An introduction to DBot – Deriv’s trading bot

Deriv.com, a leading online trading platform, offers an innovative trading bot called DBot. DBot allows users to create, customize, and deploy automated trading strategies without the need for coding skills. With its user-friendly drag-and-drop interface, the bot enables traders to test and optimize their strategies using historical data, ensuring more informed decision-making. DBot supports various trade types and assets and allows users to switch between demo and real accounts seamlessly. It is available on desktop and mobile devices, making it an accessible and versatile tool for traders of all experience levels.

Sign up on Deriv

First, understand DBot’s 4 pre-set blocks

Both novice and seasoned traders can benefit from automated trading using Deriv’s DBot – a customizable trading bot that doesn’t require coding skills. Before delving into creating your own trading bot, let’s first explore the essential features of DBot.

Essentially, constructing your trading bot with DBot involves assembling blocks, akin to bricks. Each block contains specific trading instructions, and to establish your strategy, simply connect these blocks and assign values as needed.

To facilitate this process, DBot offers four pre-configured blocks in your workspace:

• Trade parameters
• Purchase conditions
• Restart trading conditions
• Sell conditions

If you mistakenly remove any of the blocks from your workspace, you can easily retrieve them from the DBot dashboard – they are located within their corresponding tabs, as demonstrated in the image below.

Start using Deriv’s Dbot

Markets Available for Trading on DBot

DBot enables trading on well-known financial markets, including forex, stock indices, commodities, and derived indices.

To view all accessible markets and assets, click the Asset selection list within the ‘Trade parameters’ block.

Go to Deriv’s Official Website

DBot Trade Types

DBot provides various options trading contracts and multipliers based on the chosen asset. It is crucial to understand that none of the contract types necessitate purchasing an underlying asset on Deriv – your task is merely to predict the asset’s future price movement.

To choose a trade type on DBot, click the trade type selection list in the ‘Trade parameters’ block, where you also select a market and asset.

Open Deriv’s Trading Account

DBot Functionality

Once you’ve chosen a market, asset, and trade type, your trading bot is ready to operate, as the other parameters are pre-set for you. These include stake amount and trade duration. Be sure to review them before initiating your bot.

If the default values are satisfactory, simply click the green ‘Run’ button at the top right of your screen.

With your fundamental strategy in place, you can delve into more features and further tailor your trading bot. The more advanced your strategy, the more blocks you’ll need. Additional blocks are organized under two tabs on the left side of your screen: the ‘Utility’ tab, granting access to extra parameter blocks, and the ‘Analysis’ tab, offering blocks for performing technical analysis on DBot.

Find out more about Deriv

DBot Useful Features

While your trade is active, you can view its details on the right side of your screen, accompanied by the ‘Transaction’ and ‘Journal’ tabs. If you need to start fresh, click the ‘Reset’ button to erase all previous transactions and notifications.

The ‘Chart’ tab, located in the bottom left corner of your screen, displays a real-time view of the price fluctuations for your chosen asset.

The menu panel in the top left corner of your screen offers quick access to pre-built trading strategies. Additionally, it allows you to reset, import, or save your current strategy and undo your last action.

Register on Deriv for free

General Information on DBot

In addition to DBot-specific features, the platform presents a range of general settings to help manage your Deriv account.

From the top menu bar, you can access:

• Reports tab for monitoring all your open and closed trades
• Cashier tab for managing deposits and withdrawals
• Account settings for modifying your personal, safety, and security details

The buttons in the right bottom corner provide access to:

• Live chat
• Deriv homepage
• GMT time
• Responsible trading information
• Account limits
• Help center

The most effective way to familiarize yourself with a new trading platform is to explore it firsthand. Discover how to build your trading bot for free and practice automating trades without risk – simply create a demo account pre-loaded with 10,000 USD in virtual funds and give it a try.

Go to Deriv’s Official Website

Top 5 Tips and Tricks for Enhancing Your DBot Trading Strategy

Mastering a new skill involves understanding the fundamental features first. Once you have the basics down, the next step is to uncover shortcuts and extra functionalities to elevate your experience.

We’ll explore the top 5 tips and tricks that can significantly enrich your DBot journey.

1. Explore the context menu of the blocks

When you connect different blocks with various functions on DBot, they work together to execute your trading strategy. However, each block has its own context menu.

Access the context menu by right-clicking on a single block to discover the following functions:

These functions are quite self-explanatory and can be helpful when altering specific blocks. Some functions are disabled for certain blocks due to their specifications. For instance, you cannot duplicate mandatory blocks because they can only be used once.

Start exploring Deriv’s Dbot

2. Utilize the Notify block

Incorporating the ‘Notify’ block at every significant stage of your strategy ensures you remain informed about your trades. For instance, you can receive instant notifications when your trading bot purchases a contract or when your desired market price is available. You can also set notifications to inform you about the price at which a contract was bought.

Moreover, this block leaves messages in your journal that can be helpful when debugging your strategy and identifying errors to fix. To simplify the debugging process, you can filter messages in your journal to display notifications only.

Open Deriv’s Trading Account

3. Streamline your workspace with the Function block

The ‘Function’ block serves as a placeholder for other blocks, making it an excellent tool for decluttering your workspace.

Follow these steps to do so:

1. Select the ‘Function’ block in the ‘Custom functions’ subtab of the ‘Utility’ tab and drag it to your workspace.

2. Assuming you have a Bollinger Bands strategy set up, take all the contents of the ‘Purchase conditions’ block and drag them into the ‘Function’ block. Rename ‘do something’ to ‘BB strategy’.

3. Return to the ‘Custom functions’ subtab, where the new ‘BB strategy’ block has been created. This block will contain all the Purchase conditions contents you just inserted into the Function block.

4. Select the new ‘BB strategy’ block, drag it into your ‘Purchase conditions’ block, and collapse the ‘Function’ block. Now, you have only two small blocks representing your entire Purchase conditions parameters.

Go to Deriv’s Official Website

4. Save and load your strategy

When working on DBot, it automatically saves up to 10 strategies in temporary storage. To retrieve them, click the ‘Import’ icon in the top left corner menu and select the ‘Recent’ tab.

These strategies are available until you clear your browser’s cache or until they are replaced by new ones. To permanently store your strategies, you can save them on your local device or Google Drive by selecting the respective tabs.

Sign up on Deriv

5. Employ ready-made strategies

One of the simplest ways to begin trading with DBot is to use a ready-made strategy. Deriv offers three pre-built strategies, which can be used for trading immediately or customized as per your preference.

To access the strategies, click the ‘Quick strategy’ red button in the top left corner of your workspace, select your preferred strategy, and set the required parameters.

Conclusion

The five tips we’ve covered are the most popular among our traders, but DBot provides numerous additional blocks and features that may prove useful for your strategy.

Sign in to your demo account to explore all the options today!