diff --git a/freqtrade/loggers.py b/freqtrade/loggers.py
new file mode 100644
index 000000000..56dcf2486
--- /dev/null
+++ b/freqtrade/loggers.py
@@ -0,0 +1,50 @@
+import logging
+import sys
+
+from logging.handlers import RotatingFileHandler
+from typing import Any, Dict, List
+
+
+logger = logging.getLogger(__name__)
+
+
+def _set_loggers(verbosity: int = 0) -> None:
+    """
+    Set the logging level for Third party libs
+    :return: None
+    """
+
+    logging.getLogger('requests').setLevel(
+            logging.INFO if verbosity <= 1 else logging.DEBUG
+    )
+    logging.getLogger("urllib3").setLevel(
+            logging.INFO if verbosity <= 1 else logging.DEBUG
+    )
+    logging.getLogger('ccxt.base.exchange').setLevel(
+            logging.INFO if verbosity <= 2 else logging.DEBUG
+    )
+    logging.getLogger('telegram').setLevel(logging.INFO)
+
+
+def setup_logging(config: Dict[str, Any]) -> None:
+    """
+    Process --loglevel, --logfile options
+    """
+    # Log level
+    verbosity = config['verbosity']
+
+    # Log to stdout, not stderr
+    log_handlers: List[logging.Handler] = [logging.StreamHandler(sys.stdout)]
+
+    if config.get('logfile'):
+        log_handlers.append(RotatingFileHandler(config['logfile'],
+                                                maxBytes=1024 * 1024,  # 1Mb
+                                                backupCount=10))
+
+    logging.basicConfig(
+        level=logging.INFO if verbosity < 1 else logging.DEBUG,
+        format='%(asctime)s - %(name)s - %(levelname)s - %(message)s',
+        handlers=log_handlers
+    )
+    _set_loggers(verbosity)
+    logger.info('Verbosity set to %s', verbosity)