Cornix – Automate Your Crypto Trading Like a Pro

Not having success trading the crypto markets? Cornix could be the solution you need.

This powerful platform enables users to automate crypto trading strategies and optimize their profit potential. It also allows users to automatically place signal suggestions from Telegram and Discord.

This guide introduces you to Cornix and all its features. We also walk you through setting up your Cornix account, creating trading bots, and managing your portfolio.

What is Cornix?

At its core, Cornix is an automated crypto trading tool. It has a wide range of features to enhance strategies – from preset bots to advanced position management. It also facilitates portfolio tracking, allowing you to manage your crypto accounts on multiple exchanges.

Cornix connects with leading crypto trading platforms, ensuring users can execute trades directly from its dashboard. You can simply choose your preferred exchange, configure the chosen trading bot, and run it – Cornix will handle everything else.

This tool is available in both web and mobile versions. It’s adaptable to different trading styles and risk preferences. Whether you prefer hands-off automation or manual trading, Cornix gives you full control over your strategies while streamlining the process.

Why Should Crypto Traders Use Automation?

If you’re new to automation, you might wonder what Cornix has to offer. Here are some ways you can benefit from its automated tools.

• 24/7 Automation – Cornix operates around-the-clock. Meaning, you don’t need to monitor the markets to take advantage of trading opportunities. This is crucial in the crypto markets, considering they run non-stop.
• Rapid Execution – Cornix is equipped to analyze vast amounts of data and execute orders much better than humans – often within milliseconds.
• Eliminate Emotional Trading – Cornix bots follow pre-programmed strategies, thereby avoiding impulsive emotional decisions.
• Risk Management – Cornix also lets you manage position sizes and limit losses with a variety of order types. It also facilitates diversification by letting you run multiple bot strategies across different crypto pairs.

Overall, automation makes trading more accessible to beginners. The learning curve for crypto trading can be steep. But with Cornix, you can start with preset strategies and gradually increase complexity as you gain experience.

Features of Cornix

Cornix features can be categorized into three main areas – automation, advanced trading, and monitoring. Let’s explore how traders can benefit from these tools.

Automation 

Automation is undeniably the most attractive Cornix feature. It offers four different trading bots catering to diverse styles. These are customizable – giving users control over their risk level.

Grid Bots 

Grid bots are commonly used in a range-bound market. These set up a series of buy and sell orders at different levels within this price range – essentially creating a grid. Every time the price moves to one of the predefined levels, the respective order will be executed.

• For instance, let’s say Bitcoin’s price is fluctuating between $50,000 and $60,000.
• You assign the bot to place 10 buy and sell orders within this range at $1,000 intervals.
• So, the bot buys Bitcoin once the price hits $50,000.
• And then, if the price rises to $51,000 – it automatically sells Bitcoin.
• As the Bitcoin price moves up and down within the range, the buy and sell orders will be triggered repeatedly.

In simple terms, the grid trading strategy captures profits from price fluctuations. With the Cornix bot, you can also customize the number of grids, price range, and amount per trade.

DCA Bots

Dollar-cost averaging (DCA) bots are well-suited for long-term crypto investors.

• In this strategy, traders invest a fixed amount in a chosen crypto at regular intervals.
• Investments are made regardless of the current market price.
• The aim is to limit the impact of market volatility by averaging out the buying price over time.

For example, let’s say you want to invest $10,000 in Ethereum. Instead of buying $10,000 worth of Ethereum at once, you set up a DCA bot to invest $2,000 in every month. This way, you average the cost basis, ensuring you avoid buying at the peak.

Cornix lets you set up DCA bots for the preferred crypto at your chosen intervals. Alternatively, you can also copy DCA bots developed by other users. Furthermore, you can customize the bot based on the crypto pair, investment amount, take-profit/stop-loss level, and more.

Crypto Signals Bot 

Cornix also lets you create bots based on third-party signals. Once connected, the bot automatically executes the received suggestions. Additionally, it also generates a trade execution notification based on the signal.

The bot continues to monitor the position and take action based on the recommended take-profit/stop-loss levels.

Cornix comes with an integrated marketplace where users can pick a signal provider. You’ll find paid and free crypto signals here – which can be copied and executed via the bot.

TradingView Bots

Cornix also offers TradingView bots, which cater more towards advanced traders. This lets you automate strategies you’ve created via TradingView’s PineScript. However, this requires knowledge of trading strategies as well as basic coding.

TradingView bots also enable copy trading, meaning strategies are developed by other users. This is practical for those who want to leverage proven methods without starting from scratch. Moreover, as with other Cornix bots, you can fine-tune the settings to suit your preferences.

Advanced Trading Orders

One of the ways Cornix empowers its users is with its wide range of trading orders. These give traders total command over their positions.

Here’s an overview of the different types of orders available on Cornix.

• Entry orders – Cornix lets you use both market and limit orders to enter a position.
• Take-profit – Automatically sells a position when it hits a specified price target.
• Stop-loss – Automatically exits a position when it reaches a certain price to limit potential losses.
• Trailing stop-loss – Automatically adjusts a stop-loss order as the asset price moves in a favorable direction.

Hedge Mode

Hedge mode lets traders open long and short positions simultaneously for the same crypto pair. This way, if the market moves unexpectedly, the potential profits from one position can offset the losses. This tool is largely used for risk management.

Breakout Trades

In trading, a breakout suggests that a price trend may begin. Cornix allows traders to set up ‘breakout’ trades to buy above (long) or below (short) the current market price to capitalize on these patterns.

For instance:

• Suppose you identify the resistance level of Bitcoin as $55,000.
• You set a long position above the resistance at $56,000.
• Once Bitcoin breaks the resistance and rises from $55,000 to the entry price of $56,000, Cornix enters the trade with a buy order.
• Following the entry, Cornix also sets a sell order at your chosen profit target.

Cornix Trading Terminal 

The Cornix dashboard features a trading terminal to manage bots. The interface is user-friendly, and you can quickly access different types of trading orders.

Users can also manually place trades across different exchanges through the terminal. In fact, Cornix lets you create simple strategies from the terminal in two ways, which we explain below:

How to Choose the Right Cornix Bot?

Each bot strategy supported by Cornix has unique strengths that appeal to different types of traders. If you’re unsure about which one to choose, consider the following:

Market Conditions

The success of your trading strategy ultimately hinges on broader market conditions.

• For instance, the grid strategy will allow you to profit from price variations in a range bound market.
• On the other hand, a DCA bot is ideal for bear or volatile markets.
• Similarly, a signal bot might be better suited for trending markets as they rely on technical indicators.

Therefore, you must carefully evaluate market movements before choosing a strategy. The plus point is that Cornix lets you turn bots on and off as required – so you can adapt strategies to the market accordingly.

Risk Tolerance

Your risk appetite is yet another crucial factor to consider. For instance, grid trading often involves high-frequency trades. This demands access to considerable capital and may lead to higher trading costs. As such, some traders consider grid trading to be high-risk.

Similarly, if you’re comfortable with more speculative trades, consider signal or TradingView bots. These may also provide higher returns. But, once again, they require a higher risk tolerance. In comparison, DCA bots are relatively low risk – perfect for those seeking steady, gradual gains.

Investment Horizon

You can also choose bots based on your goals. Do you want short-term gains, or are you patient enough to hold crypto for long-term growth? Grid trading can yield quick, smaller profits, making it appealing for short-term traders.

DCA, as noted, is designed for gradual accumulation over time. Signal and TradingView strategies can serve both short and medium-term goals, depending on the types of indicators used.

Limitations of Cornix 

While Cornix has many notable benefits, it also has some shortcomings – as covered below.

No Support for Custom Strategy Building

Cornix has an array of preset bots, but it falls short when it comes to strategy building.

• There’s no built-in option for traders to develop their own strategies.
• The only altrnative available is TradingView – which requires knowledge of PineScript – a scripting language that may be unfamiliar to many users.

This reliance on TradingView for custom strategies introduces an additional learning curve. As such, Cornix may not fully satisfy users who prefer direct customization within its interface.

Limited Technical Analysis Tools 

Cornix is designed for ease of use, but this simplicity comes at the expense of advanced analysis features.

Unlike platforms that integrate extensive charting and a variety of technical indicators, Cornix relies more on automation and preset conditions. This may not be suitable for users who prefer in-depth analysis to guide their trades.

Overreliance on Automation

As with all automation tools, there’s a risk that users become overly dependent on a bot. This means that they could end up neglecting the monitoring process.

While automation removes emotional decision-making, human oversight is still required. Periodic check-ins are needed to ensure the bot aligns with the current market conditions.

Bots are also not designed to handle sudden, unpredictable events – like regulatory announcements or influential tweets – that can drastically impact the crypto market in minutes. In such instances, conducting sentiment analysis and being ready to intervene manually is crucial.

Cornix – Pricing & Plans 

Cornix offers four subscription tiers to meet diverse trading needs, each with specific features and limits.

• Free Plan – Supports one bot of each type, one backtest run, and one API connection.
• Starter Plan at $24.9 a month – Supports up to three bots (depending on the type), 10 monthly backtest runs, and one API connection.
• Advanced Plan at $44.9 a month – Supports up to 10 bots (depending on the type), 50 monthly backtest runs, and two API connections.
• Premium Plan at $89.9 a month – Unlimited number of bots, 250 monthly backtest runs, and three API connections.

If you make an annual payment, there’s a discount of 33%. Additionally, Cornix offers a 14-day trial for users to check out all advanced features.

How to Set up Cornix 

Getting started with Cornix is straightforward and can be done in a few minutes.

Here’s a step-by-step guide to set up Cornix and begin automated trading.

Step 1: Sign Up for Cornix 

Visit the Cornix website and create an account. To get started, you’ll need to provide your full name and email address and create a password.

Once you’ve verified your email, you’re ready to proceed with the setup.

Step 2: Connect Exchange 

Next, you need to link Cornix to your chosen crypto exchange. Start by selecting your preferred exchange from the drop-down list within Cornix. If you haven’t set up an account with the exchange yet, Cornix conveniently provides a direct link to its website so you can register quickly.

Within your exchange account, you’ll need to generate API keys to authorize Cornix to execute trades on your behalf. Be sure to enable trading permissions only – do not enable withdrawal approvals for added security.

After generating your API keys, simply copy and paste them into Cornix to complete the connection. Finally, double-check that your exchange account is sufficiently funded to support automated trades, ensuring Cornix can execute your strategy seamlessly.

Step 3: Choose Trading Method

As mentioned, Cornix supports different automated trading bots. You can choose one from the supported choices – such as grid, DCA, signals, or TradingView. Depending on the specific bot, the configurations can vary.

Nonetheless, Cornix provides detailed instructions for how to set up each bot. Remember that you can always add new bots and adjust existing parameters later.

Step 4: Monitor Trades

Cornix offers detailed reports of each trade executed. This allows you to fine-tune strategies and make changes as required.

Conclusion

If you’re in the market for an automation tool, Cornix is worth considering. It makes automation more accessible to traders with preset bots. Moreover, it also lets you automate trading signals generated by third-party providers – like Algobot.

However, traders should remember that Cornix isn’t a substitute for market awareness. Its bots cannot always respond to sudden market shifts, and as such, monitoring is crucial. Additionally, for those wanting full customization, Cornix may feel limited without in-platform strategy building.

FAQ

Is the Cornix trading bot safe?

Cornix is safe, as it uses API keys to connect with exchanges and only requires trading permissions. However, as with any trading tool, users should regularly monitor settings and ensure their exchange security measures are up-to-date.

Can I use Cornix for free?

Yes, it offers a free plan with limited features, allowing users to explore the platform without a subscription. This free tier includes access to one active bot of each type and a single API connection.

Which exchanges are supported by Cornix?

It supports many prominent exchanges. This includes Bybit, Binance, OKX, KuCoin, Bitget, Coinbase, Huobi, and BitMEX.

How do you set up a Cornix trading bot?

To set up Cornix, create an account, choose an exchange, and generate API keys with trading permissions. Then, provide the API keys to Cornix and configure your preferred bot and strategy for automated trading.

Is using a crypto trading bot legal?

Using a crypto trading bot is legal in most regions as long as it complies with exchange terms and local regulations. However, specific laws vary by country, so checking domestic regulations is advisable.