Quick Start

A tutorial guide on how to quickly and easily setup a CFDHero bot

IMPORTANT: CFD trading is HIGH risk. Please seek professional financial advice before you embark on CFD trading. You may lose all, if not more, of your capital.

Before we begin, you need to understand and know what is a CFD. Please read on if you have a thorough understanding of what a CFD means and how it is traded.

Check out the Quick Start pictorial below.

CFDHero allows you to automate trades right from your computer or phone. No coding skills are needed. Trade popular assets such as equities, forex and more with bots based on technical indicators 24/7. Sign up with CFDHero and get your first CFD trading bot running in few simple steps.

CFDHero is a Software-as-a-Service platform that offers automated and algorithmic trading bot features to our users packaged in a user-friendly interface. Unlike many other platforms that require you to send funds to them, CFDHero does not require this. Instead, it trades from your existing CFD broker account (e.g. CityIndex.com) using an API (Application Programming Interface) connection.

As you start your journey of algorithmic trading with CFDHero, you will be pleased to know that so many complex features are now distilled into a simple and easy to understand User Interface.

TIPS: If you are not sure how to configure a bot or just want to get going asap, you can rent one of the bot from our Bots Marketplace.

We have a Tutorial section on our Blog. Do check it out.

1. Asset

Start by connecting a brokerage or use a simulated paper trading account. In CFDHero, a paper trading brokerage named "Paper" has been created by default. All trades done within the Paper brokerage are risk free and use fake funds. You can adjust the amount of your virtual funds in the Settings page (for Web App). In our mobile apps, you can adjust the virtual funds in the Portfolio screen. But, be sure to first connect to the Paper brokerage.

Once your brokerage account has been connected, a list of available CFD instruments will be available to you for selection.

If you do not see an instrument that you would like to trade, send us an email (admin@cfdhero.com) and we will add it within a day.

TIPS: Many CFDHero users prefer to trade on their own online brokerages and simply rely on CFDHero as a signal (when to buy and sell) provider. Read this article to find out more. However, integration with our preferred brokerage partner, City Index, will offer you automated trading capability - you do not have to do anything!

The choice is yours.

In the example below, the CFDHero bot has been configured to trade the CFD contract for AAPL using a LONG strategy. You may also select SHORT if you feel that AAPL price will trend down.

(The Create Bot window. Image shown depicts CFDHero's web app UI)
pagePaper TradingpageSupported BrokeragespageStrategies

2. Trade Parameters

CFDHero will pull your balance data live from the brokerage account and determine the available balance to assign to the bot. Set the allocation of funds and how the bot handles the fund here. Please note that trading on CFDs always uses margin. Each CFD instrument will have its own set of margin requirements. Be sure to check with your respective CFD brokerage on the margin allowance and requirements.

(Allocate your funds, set order types and more)
pageTrading Parameters

3. Entry Conditions

CFDHero allows different rules for entering and exiting a Deal. Users may enter with BB and exit with EMA or set up multiple 'and' and 'or' rules with multiple indicators.

(Configure your bot's entry condition)
pageEntry / Exit ConditionspageBollinger BandpageBots and Deals

4. Exit Conditions

Users can choose to exit using Take Profit or simply using Stop-loss for a buy and hold strategy. Stop-loss and Take Profit are not considered indicators and will be prioritised ahead of any exit indicators setup for the Exit Conditions.

(Set exit conditions such as Take Profit and Stoploss)
pageEntry / Exit ConditionspageBollinger Band

5. Backtesting

You may now backtest your strategy across different time frames to ensure that the strategy is viable. However, do note that past performance does not guarantee future results. Backtesting is only a tool to evaluate a bot based on historical data.

CFDHero allows you to backtest various time windows. For example

1D = Last 24 hours

1W = Last 7 days

After you have selected the time window, simply click the Run Backtest button. Professional plan users will have the option to run custom backtest time window.

(Select the time window for backtesting)


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