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Gunbot Review 2024: Features & Strategies

Picture of Luis Clark
Luis Clark
Luis is a personal finance expert who has been passionate and writing about crypto for more than five years.
gunbot review

Gunbot Review: Our Opinion

Gunbot is an automated crypto trading bot best suited for professional traders looking to execute their trading strategies automatically.

It goes for an expensive one-time license fee that starts at over $400 in BTC for its lowest plan while the highest plan costs over $1,100. When compared to similar services like Cryptohopper, this is quite high. However, you only need to pay this fee once as well upgrades are free. 

Gunbot also doesn’t offer cloud-based crypto trading bots. Users need to download software and either run it from their computer or pay for a VPS service to be able to run the bot 24/7. 

In general, Gunbot isn’t suited for complete beginners who want to start their crypto trading bot journey.

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Out of 5
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4.1/5
Table of Contents
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    Intro/Company Overview About the Gunbot Creators

    gunbot review homepage

    The first version of the Gunbot trading bot and trading strategies software was launched in 2016

    Unlike most modern trading bots that run on the cloud, Gunbot is a software that’s compatible with Raspberry Pi, Mac, Windows, ARM, and Linux

    Gunbot supports popular trading strategies such as Bollinger Bands and Ichimoku and crypto traders can customize those strategies using technical indicators like ADX, MFI, RSI, etc. 

    Currently, Gunbot supports more than 15 cryptocurrency exchanges including the most popular options like Binance and Coinbase. 

    Gunbot also supports a list of add-ons that give it additional capabilities such as Backtesting or TradingView access.

    Pros

    Cons

    Gunbot Review: Unique Features

    Reversal Trading (RT)

    reversal trading gunbot

    RT is a Gunbot technique that allows you to keep trading profitably when prices move downwards in bearish market conditions after you have purchased an asset

    This is done by using the already invested amount of base currency to accumulate more units of the quoted currency after prices have moved downwards. 

    RT keeps accumulating until prices move up enough for the accumulated amount to be sold for an overall profit. 

    RT is complex and is suitable for advanced traders who have a definitive plan. 

    Beginners may find it difficult especially since it is difficult to understand and set up. Also, beginners will need a considerable amount of time to learn about the relevant techniques before committing their money to it. 

    Trading Fees are accounted for in reversal trading. The invested amount is reserved for buying more units and requires funds to be locked for the trading pairs in Reversal Trading, Gunbot cannot use the funds for other pairs. 

    In cases where the price recovers to the breakeven point before an RT_BUY could be made, the initial bag is bought back to continue normal trading. 

    RT math is done based on your trading history. This means that if your last sell order was at a loss and not caused by the stop limit, RT will commence immediately if it is enabled and continue running until the RT cycle ends in profit.

    If no profit is made it will keep running even when you disable Reversal trading. 

    To prevent RT from running when you don’t want it to, ensure you have a profitable last sell order or set “Ignore Trades Before” at a time after your last sell order at a loss. You can delete the pairs before setting the “Ignore Trades Before” order. 

    RT should be enabled before you start a trading pair, do not activate RT on existing bags that are already down a lot. 

    Gunbot handles reversal trading in 3 different ways. 

    The technique used is dependent on the made trading strategies used for a pair.

    The following settings are available for Gunbot’s reversal trading:  

    • RT Enabled: This setting enables RT when prices drop. RT will use the assets invested in your bag to accumulate more units until they can be sold for profit. 
    • RT Gain: This defines the percentage drop after the initial buy or RT buy that will trigger an RT sell. To prevent unwanted buybacks, this should be set higher than the spread between bid and ask. 
    • RT Buy Level: This setting defines the percentage the price of the asset has to drop after RT Sell to trigger RT Buy. 
    • RT Sell Up: This determines the starting point for trailing up and RT Sell. This setting only works when TM_RT_SELL is enabled. 
    • RT Buy-Up Level: The Buy-Up Level setting sets the price to place an RT Buy order above the last RT Sell order. This feature is disabled by the default value of 0. For this setting to work, the price must be lower than the break-even point. 
    • Other Settings: Other available RT settings include RT Trend Enabled, RT Once, RT Once And Continue, RT Maxbag Protection, Trail Me RT, Trail Me RT Sell, Trail Me Buy Range, and Trail Me RT Sell Range.

    Gunbot Strategy Builder

    This is a strategy builder for spot markets that offers a vast range of options that allows you to create and personalize your trading strategies

    The strategy builder allows you to choose any 2 methods as the triggers for buy and sell orders. 

    It also offers several modules that allow you to extend your strategy functionality beyond the set criteria for the primary order triggers in several categories such as Dollar Cost Averaging, Trail Me, Reversal Trading, Balance, Indicator, Stop Loss, Confirming Indicator, and Misc. 

    Gunbot offers the following building blocks for every spot strategy builder: 

    • Balance Settings: This setting defines how much the bot can spend on a strategy created with the strategy builder. The balance setting plays a key role in determining the balance between risk and reward and can significantly influence the success of your trades. 
    • Trading Limit: This setting tells the bot how much to spend on a buy order. The trading limit is often defined in the base currency of a pair. If this setting is not set correctly, it can result in no trades at all or trades in unwanted amounts. The trading limit set should be at least a bit higher than the minimum trade size of your exchange because of fees. 
    • Confirming Indicators: Gunbot offers several confirmation indicators that validate your buy and sell criteria. This enhances the precision of your trading strategies. Orders will only be executed if the main strategy settings and confirmation indicators align. Since exchanges do not provide indicator data, Gunbot has to calculate its own. Gunbot calculates indicators using real-time data. The exchanges provide raw data for calculating indicators. Also, the calculation method used by Gunbot and the crypto exchanges is different, the exchanges or TradingView may display indicators that are slightly different from what Gunbot displays. 
    • Dollar Cost Averaging (DCA): Gunbot uses a Double Up feature to automatically average down assets. This brings down the average cost per unit when prices drop after a regular buy order. Once the average price is reduced, the price to exit the trade profitably gets lower. Since the Double Up feature allows you to invest a significant amount of your base currency, you should be cautious when setting the frequency and ratio to ensure that you have sufficient available funds. 
    • Trail Me: These groups of features allow you to trail different types of trades to reach better entry and exit points. Trailing orders are only placed when the main strategy criteria are met and confirming indicators allow the order. With Trailing, you can aim for lower entry proof when buying and make higher profits when selling. 
    • Misc Setting: The Misc setting allows you to control your Stop Limit, Stop Loss Disable Buy, Stop Loss Disable Sell, Set Order Types per trigger, and other uncategorized features.

    Supported Crypto Exchanges

    gunbot crypto

    Gunbot offers a wide range of partner, certified, and supported exchanges. 

    Gunbot partner exchanges are official Gunbot partners that maintain direct contact with Gunbot’s team to ensure seamless integration. 

    Gunbot partner exchanges include Bitget, Bybit, OK Gunbot, Gunthy, Binance, Binance Futures, Gate.io, HitBTC, KuCoin, Huobi Global, Kraken Futures, MEXC, OKX and Txbit. 

    Other Gunbot-certified/supported exchanges include Bittrex, Bitfinex, Bitmex, Bitmex Testnet, Coinbase Pro, Poloniex, CEX, DyDx, and Kraken

    Other supported exchanges are available through the ccxt library. These exchanges have not been fully tested by Gunbot, however, they offer users access to spot trading alerts using Gunbot’s TradingView add-on. Gunbot does not support margins and futures for these exchanges.

    Trading Strategies

    The most common way the Gunbot bot is used is via its built-in trading strategies. These built-in strategies allow you to cycle through a list of pre-configured trading pairs, gather market data, and execute trades following the rules of these pre-configured strategies. 

    That said, these built-in trading strategies are not non-configurable, as every strategy comes with a unique set of parameters you can tune. 

    Gunbot, for example, allows you to create a trading strategy that buys at the lower Bollinger Band and sells at the percentage profit target. 

    The most popular pre-built trading strategies include the Gunbot techniques with opinionated crypto trading rules

    These are grid-like strategies that have a smaller set of configurable options and are built to help users get trading fast. 

    They include the Stepgrid Strategy, which Gunbot recommends as a starting spot for Spot Trading. It can be used as a foundation for more advanced grid strategies as well. Then there’s the Stepgridhybrid and Stepgridscalp, which offer a more advanced trading strategy than the Stepgrid. 

    The Stepgridscalp, for example, tries to find a balance between scalping and grid trading. 

    Beyond its spot trading strategies, Gunbot offers built-in techniques for futures trading and a popular strategy is the Sgsfutures. 

    The Sgsfutures is a futures bot strategy quite similar to your Stepgridscalp technique. However, unlike the former, it does not partially close trade prices lower than the average entry price. 

    The default settings also ensure a higher trade frequency. 

    In addition, Sgsfutures currently runs in long-only mode but Gunbot has mentioned that a short mode is coming soon. 

    Customizable Strategies

    While Gunbot comes out-the-box with pre-built crypto trading strategies, the bot provides users with the flexibility of running their own JavaScript code to use custom strategies. 

    This feature is targeted at developers that intend to customize their trading algorithms and use Gunbot’s exchange connectivity and market data collection tools to their advantage. 

    Unlike most of its competitors that offer drag-and-drop code options for newbies, Gunbot doesn’t provide any of such, and users will have to know a bit of JavaScript to use the custom trading strategy features

    That said, Gunbot provides a range of features that give traders enough flexibility when creating custom strategies. Gunbot, for instance, allows developers to connect to third-party services when coding. So a user could connect to a breaking news feed API, for instance, to incorporate the data into their trading algorithm. 

    It also offers a wide range of visualization options that allow users to create and monitor specific statistics that aren’t available on Gunbot by default. 

    Lastly, Gunbot does not place artificial constraints (restrictions on execution time, for example) on any JavaScript code written. 

    So the user has complete control over the logic of their trading algorithm. You can also use external libraries and modules to extend the functionality of your code.

    Plans and Pricing

    plans and pricing gunbot

    Gunbot, unlike its cloud service trading bot competitors, does not offer a subscription model but a lifetime license.

    Free Trial

    Gunbot offers a free 3-day trial, which comes with a limited set of features including only 1 trading pair (USDT/BTC), and 2 trading strategy presets (grid bot and scalp bot). It also only works on Huobi Global, Binance, okGunbot, and Bitget

    The free trial plan only works for spot trading, so you won’t be able to execute futures trades with the bot. Plus, unlike the paid pricing plans, the Gunbot free trial runs online (you won’t have to download the software).

    The Gunbot team states that this is to allow you to test the bot right away.

    Gunbot Standard

    This Gunbot pricing plan goes for 0.014 bitcoin, which, at the time of writing, is the equivalent of over $400. 

    It comes out of the box with over 20 Spots and futures strategies (all techniques that Gunbot offers). 

    Other features include the following:

    • For 1 exchange
    • Unlimited trading pairs
    • All strategies
    • Switch exchange anytime
    • AutoConfig
    • 500 Gunthy tokens
    • Telegram community
    • Gunbot School
    • Chat & email support
    • For Windows, Mac, Linux & Raspberry Pi

    It is important to note that this is a lifetime license as Gunbot isn’t a cloud service. It runs on your PC with no recurring costs.

    Gunbot Pro

    This Gunbot pricing plan costs 0.025 bitcoin, which is approximately over $700. The plan is targeted at demanding traders. 

    It includes everything in the Gunbot Standard plan plus backtesting options in TradingView.

    Gunbot Pro allows you to trade on up to 3 crypto exchanges simultaneously and change supported exchanges at any point. 

    Other features include:

    • Unlimited trading pairs
    • All strategies
    • Switch exchange anytime
    • AutoConfig
    • 750 Gunthy tokens
    • Telegram community
    • Gunbot School
    • Chat & email support
    • For Windows, Mac, Linux & Raspberry Pi

    Gunbot Ultimate

    This is the highest Gunbot pricing plan and it goes for 0.04 bitcoin, which is the approximate equivalent of over $1,100

    It includes access to all aforementioned features in previous plans and unlimited API slots and the ability to trade on all supported exchanges at the same time including DeFi platforms. 

    The plan also supports TradingView alert triggers, which execute Gunbot crypto trading bot trades based on data from TradingView. There’s also a mobile app that allows you to see all your Gunbot Ultimate instances from your mobile phone (Android and iOS devices supported).

    Gunbot also offers a trading simulator with this plan, that allows you to run real strategies with fake funds to test every strategy before execution. 

    Other features include:

    • For all exchanges
    • Unlimited trading pairs
    • All strategies
    • Switch exchange anytime
    • Custom JS strategies
    • Gunbot Simulator
    • AutoConfig
    • Backtesting add-on
    • TradingView add-on
    • 2500 Gunthy tokens
    • Telegram community
    • Gunbot School
    • Chat & email support
    • For Windows, Mac, Linux & Raspberry Pi

    Payment Methods

    While the pricing is listed in Bitcoin you can pay for a Gunbot license using PayPal, stablecoins, Bitcoin, and over 300 altcoins.

    Opening a Gunbot Account

    Gunbot is a trading bot and not an exchange. So you cannot open an account with them. You only choose a pricing plan, pay for it using the supported payment methods, and then set up your bot as mentioned in the next section. 

    To do so, go to the official Gunbot websitehttps://www.gunbot.com

    Choose a pricing plan then click the green Get Started button. 

    On the next screen, enter your email address to receive details about your order then make payment.

    That’s it, you’ve created an account with Gunbot.

    Setting Up Gunbot with Exchange

    To set up your Gunbot download the latest stable release from their official GitHub and install it.

    The process of setting up is typically consistent across various operating systems:

    Download the zip file for your OS 

    Unzip the file to a new folder

    Allow TCP traffic on the port used for the user interface

    Start the executable and go to the user interface in your browser via http://localhost:5000

    Next, connect to a supported exchange by entering the correct API credentials for that platform. Usually, the API Key field is prefilled with the crypto exchange submitted during your activation.

    Select the trading pair you want to trade then choose your strategy 

    Set your trading limit and max buy count

    Next, enter the amount of base funds you have on your selected exchange.

    Hit Save Settings and Start Trading. 

    That’s all! Gunbot will do the rest.

    Trading Experience/Using Gunbot Trading Bot

    The trading experience using Gunbot is complex and best suited for professional traders. 

    It requires users to know JavaScript to make customized trading strategies. 

    The user interface is also quite clunky and more tech-guru friendly, which will discourage beginners. 

    That said, for experienced traders and developers Gunbot offers extremely flexible software that has minimal restrictions.

    Security

    support gunbot

    Gunbot is a privacy-friendly trading bot. It runs on your local computer or your server only. It is the perfect bot for private traders as your trading API remains private and your trading cannot be influenced or monitored by anyone. 

    Gunbot is as secure as you make it. If your device is not safe, the security of the bot will be affected. 

    This means you need to take additional measures to boost the level of your account security. 

    That said, Gunbot can run on Windows, Linux, MacOS, or ARMv7 devices. You can run multiple instances of Gunbot on different devices and platforms using a single license. 

    For security reasons, only send the money you wish to trade to the exchange. Also, store your API and secret keys in an encrypted document to prevent it from being accessed if your computer is hacked. 

    To boost security, You can also enable two-factor authentication and IP address whitelisting.

    Customer Service

    Gunbot has a fast-responding support team. You can contact the Gunbot support team via Live chats and email support tickets. 

    Gunbot has a staffed support Telegram group where you can get direct access to some of Gunbot’s experienced users and staff. 

    Gunbot also has an active user community where experienced users and professional traders are willing to help inexperienced users with their questions about the software. 

    There is also a self-service feature that allows you to self-service the API keys used for trading on Gunbot after the initial registration. The support team can also help you update your API keys when the need arises. 

    There is also a Gunbot school that features several video courses that can help you learn how to set up and use the bot from scratch.

    Does Gunbot Platform Offer Education?

    Yes, Gunbot offers extensive docs on how to use and set up the bot. However, the information is extremely advanced and newbies may be unable to learn from it.

    Gunbot Review: Final Thoughts

    Gunbot is best for experienced traders looking for a flexible and customizable trading bot that offers a one-time license. 

    However, its pricing may be considered expensive to beginner traders compared to other trading bots.

    While Gunbot offers a range of functionalities, it’s essential to explore other options to find the perfect fit. For a detailed look at another leading bot, check out our Cryptohopper review. For a broader perspective on top-performing bots, our Best Crypto Trading Bots page is invaluable.

    FAQ

    Most frequent questions and answers

    Gunbot and Cryptohopper are examples of popular trading bots. But their reliability depends on the trading strategy being used.

    If you already have a working trading strategy you want to automate, automated trading systems are a great option. 

    Gunbot costs up to over $1,100 in BTC.

    No ,it isn’t illegal to use trading bots.

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