A significant advancement in the world of cryptocurrency trading is the invention of trading bots. With crypto trading bots like Cornix, any beginning trader can easily follow professional traders automatically in every move they make and make the same amount of profits as they do. This is often referred to as copy trading.
Most crypto trading groups share trading signals in a Telegram group chat. With the cornix trading bot, users can automatically copy these signals and place them in their own exchange through an API connection. The Cornix bot is operated entirely from within telegram which makes it easy to securely connect the bot to all your exchanges.
In this Ultimate guide, we will explain in 10 simple steps how you can setup the Cornix bot for yourself so you can follow trading channels on telegram automatically.
- Sign up for Cornix
- Set up the cornix bot and safely connect your exchanges.
- Connect with a signal group (professional traders)
- Configure automated trading
Step 1: Download Telegram
The first step is to Download Telegram Messenger on your mobile phone or desktop.
You can find this application in both the App store as well as Google play store or download here; https://desktop.telegram.org/
Step 2. Start the Cornix bot
Open your Telegram messenger App and type in @cornix_trading_bot in the search bar as this is the official username for the trading bot.
Select the username and it will then link you to an automated conversation with the bot itself.
Make sure to create a username in the settings page before starting to register for the Cornix Bot, as the bot will prohibit your access if no username is set.
Once you’ve done this, you can press ‘start’ and it will lead you through the whole registration process.
Step 3: Join the Cornix community
Below you can see what the introduction of the Cornix Trading Bot looks like. The first automated message to appear will state some choices of encouragement such as joining their Telegram community. This is used to ask questions, or, request support in regards to the Cornix Bot, or the announcement channels where the team posts the latest updates and patches that may come in handy as a user. There are also links attached to their official website and the support contact.
Step 5: Activate telegram notifications
The following message will notify you to activate telegram notifications. These will notify you about all the actions managed by the bot. Once you’ve clicked “Enable Notifications”, you’ll be directed to the notifications bot where you can then start a conversation with it by clicking the “Start button”.
This is the Cornix Notifications Bot. Once you’ve pressed “start”, your notifications will be activated. It is essential to keep this on as it will inform you about the latest trades being managed by the Cornix Bot.
Step 6: Connect your exchanged with your Cornix bot.
After having pressed “Return”, as stated in the Notification Bot, you will come to find yourself in the second step of the “first Time Guide”. Here you’ll be asked to connect your trading account to the bot. To do so, click on “Add Client”.
Step 7: Creating a new client
After clicking on ‘add a client’, you’ll be given the choice between creating a new client and duplicating an existing client. Select “create a new client” if this is your first time using Cornix. This option allows you to create a client with a new API key.
When you click on “New Client”, the following message will appear where you’ll have a choice to either create a new exchange account or link the client to your existing account.
Once decided, you’ll find a list of different exchanges. Choose the exchange on which your API key is active. Recommended exchanges are:
Once you’ve chosen your preferred exchange, you can enter the client name or press the button which states the exchange’s name to use their default name. The name will be used to identify a client for the specific exchange, so it is useful to choose a memorable name (Binancekey1 for example).
Step 8: Open an exchange account
If you don’t have an exchange already, you need to make a new exchange account in order to create new client on Cornix. We recommend the following:
To create a new account, first fill in your registration details on the sign-up section of the exchange.
Once you’ve done that , return to the Cornix Bot and click on “Next Step”.
Step 9: Creating an API key
Finding your API key differs per exchange. But, for Binance here is how to do it:
Visit: www.binance.com/en/usercenter/settings/api-management or when you’re on your dashboard, just scroll down to the ‘API Management’ tab.
Secondly, Give the API key a label in the textbox, click ‘Create’ and follow any security keys that are prompted. Furthermore, Check the Binance-registered email. You should be able to see an email from Binance which will ask you to approve the action by clicking ‘Confirm Create’. You will be lead to the following page: please make sure to cross the “Enable trading” checkbox and the “unrestricted” radio buttons. (This is only for Binance in particular but is similar on other exchanges)
Lastly, make sure to copy and paste the API key followed by a comma followed by copying and pasting the secret key in the Cornix Bot chat.
Step 10. Connect to a telegram trading signal provider
The last step is to connect your created client on Cornix to a telegram signal channel.
Click on ‘yes’.
Cornix will lead you to a variety of channels that supports your preferred Exchange. I chose ‘BINANCE TRADING’. However, if you have paid for a premium subscription from a signal/call provider, you should see their group name here and select it.
When linked to your preferred channel, make sure to click ‘join’ which will be stated below.
Remember to always keep your Notifications on your Cornix Bot enabled as this will update you on the latest trades in progress and profit/loss made.
The main menu
The main menu is what you’ll be using the most when using the Cornix Bot. Whether to add clients, manage your portfolio and editing your trading parameters.
Here’s where you’ll see an overview of all the coins you have in the different clients you defined within the Cornix Bot. The Portfolio page will be separated into several categories, where each section represents a different client that you defined in the bot.
At the top of the screen, you’ll notice the balance in BTC from all your clients. Besides each client, you will see the BTC amount that you have in the client. Afterwards, under every client, you will see a row per coin that you have in the client. For each coin, you will be able to see the name or ticker of the coin. On the right side, you’ll notice the available quantity of the coin which can be use in trades and the total amount quantity coins in the client
(the standard format is<available quantity >/<total quantity>).
The next detail in each row is the BTC amount equivalent to the quantity of coins you hold. Lastly, you will be able to see the 24 hour change in percentage of the coins within the exchange.
Auto trading, in its simplest sense, is to follow trades of signal providers automatically (using the bot). In order to go to the Auto-trading feature, first go to the Main menu. Click on the ‘Bot Configuration’, then click on ‘Trading’ and then lastly on ‘Auto Trading filter’. You’ll first have to accept the terms and conditions of the auto trading option.
This is how the screen will look like when configuring Trading options. I only have Binance at the moment, which is why you will see only that. The list will add up once you connect to other exchanges.
In this section, you will be able to view and remove your different channel subscription. Subscribing to a new channel will allow you to receive signals from the channel in the bot and view the published signals in the Open Signals section. To connect to a new channel, click on the Connect a Channel button in the Channels section, and proceed to select the channel to which you would like to connect.
To view and edit your existing channel subscription, click on the Existing Channel Subscription button in the Channels section. If you would like to disconnect and stop receiving signals from a channel, select the desired channel name from the list and select the Remove Subscription option.
Seeing this message, means that you have connected to the channel successfully. You can either connect a channel to the bot, which will show you a list of channels you are subscribed to, join a supported channel, or, click on one of the channels that are already connected to the bot in order to remove the connection or connect that channel to auto-trading.