diff --git a/.gitignore b/.gitignore
index 29447afa1..24d1caaeb 100644
--- a/.gitignore
+++ b/.gitignore
@@ -77,5 +77,6 @@ config.json
 preprocessor.py
 *.sqlite
 
+.env
 .venv
 .idea
diff --git a/README.md b/README.md
index 4fc330881..6ba5c4bbd 100644
--- a/README.md
+++ b/README.md
@@ -1,14 +1,52 @@
-# marginbot
+# freqtrade
+Simple High frequency trading bot for crypto currencies.
+Currently supported exchanges: bittrex, poloniex (partly implemented)
 
-Cryptocurrency micro trading bot
+This software is for educational purposes only.
+Don't risk money which you are afraid to lose.
+
+The command interface is accessible via Telegram (not required).
+Just register a new bot on https://telegram.me/BotFather
+and enter the telegram `token` and your `chat_id` in `config.json`
+
+Persistence is achieved through sqlite.
+
+##### Telegram RPC commands:
+* /start: Starts the trader
+* /stop: Stops the trader
+* /status: Lists all open trades
+* /profit: Lists cumulative profit from all finished trades
+
+##### Config
+`trade_thresholds` is a JSON object where the key is a duration
+in minutes and the value is the minimum profit threshold in
+percent whether the bot should sell. See the example below:
 
 ```
-cd marginbot/
-cp config.json.example config.json
-python -m venv .venv
-source .venv/bin/activate
-pip install -r requirements.txt
-./main.py
+"trade_thresholds": {
+    "2880": 0.005, # Sell after 48 hours if there is at least 0.5% profit
+    "1440": 0.01,  # Sell after 24 hours if there is at least 1% profit
+    "720":  0.02,  # Sell after 12 hours if there is at least 2% profit
+    "360":  0.02,  # Sell after 6 hours if there is at least 2% profit
+    "0":    0.025  # Sell immediatly if there is at least 2.5% profit
+},
 ```
 
-Enter your API keys and tokens in `config.json`
\ No newline at end of file
+
+The other values should be self-explanatory,
+if not feel free to raise a github issue.
+
+##### Prerequisites
+* python3
+* sqlite
+
+##### Install
+```
+$ cd freqtrade/
+# copy example config. Dont forget to insert your api keys
+$ cp config.json.example config.json
+$ python -m venv .env
+$ source .env/bin/activate
+$ pip install -r requirements.txt
+$ ./main.py
+```
diff --git a/config.json.example b/config.json.example
index a9a9cad6e..cb05bcec3 100644
--- a/config.json.example
+++ b/config.json.example
@@ -1,4 +1,5 @@
 {
+    "max_open_trades": 3,
     "stake_amount": 0.05,
     "dry_run": false,
     "trade_thresholds": {
diff --git a/main.py b/main.py
index 8613aa393..b44371e61 100755
--- a/main.py
+++ b/main.py
@@ -18,9 +18,10 @@ from exchange import get_exchange_api
 from rpc.telegram import TelegramHandler
 from utils import get_conf
 
+
 __author__ = "gcarq"
 __copyright__ = "gcarq 2017"
-__license__ = "custom"
+__license__ = "GPLv3"
 __version__ = "0.5.1"
 
 
@@ -90,11 +91,13 @@ class TradeThread(threading.Thread):
             orders = api_wrapper.get_open_orders(trade.pair)
             orders = [o for o in orders if o['id'] == trade.open_order_id]
             if orders:
-                msg = 'There exists an open order for this trade: (total: {}, remaining: {}, type: {}, id: {})' \
-                    .format(round(orders[0]['amount'], 8),
-                            round(orders[0]['remaining'], 8),
-                            orders[0]['type'],
-                            orders[0]['id'])
+                msg = 'There exists an open order for {}: Order(total={}, remaining={}, type={}, id={})' \
+                    .format(
+                        trade,
+                        round(orders[0]['amount'], 8),
+                        round(orders[0]['remaining'], 8),
+                        orders[0]['type'],
+                        orders[0]['id'])
                 logger.info(msg)
                 continue
 
@@ -102,7 +105,7 @@ class TradeThread(threading.Thread):
             trade.open_order_id = None
             # Check if this trade can be marked as closed
             if close_trade_if_fulfilled(trade):
-                logger.info('No open orders found and trade is fulfilled. Marking as closed ...')
+                logger.info('No open orders found and trade is fulfilled. Marking {} as closed ...'.format(trade))
                 continue
 
             # Check if we can sell our current pair
@@ -187,11 +190,9 @@ def create_trade(stake_amount: float, exchange):
 
     # Remove currently opened and latest pairs from whitelist
     latest_trade = Trade.query.filter(Trade.is_open.is_(False)).order_by(Trade.id.desc()).first()
-    open_trades = Trade.query.filter(Trade.is_open.is_(True)).all()
-    if latest_trade and latest_trade.pair in whitelist:
-        whitelist.remove(latest_trade.pair)
-        logger.debug('Ignoring {} in pair whitelist'.format(latest_trade.pair))
-    for trade in open_trades:
+    trades = Trade.query.filter(Trade.is_open.is_(True)).all()
+    trades.append(latest_trade)
+    for trade in trades:
         if trade.pair not in whitelist:
             continue
         whitelist.remove(trade.pair)
@@ -220,7 +221,7 @@ def create_trade(stake_amount: float, exchange):
 
 
 if __name__ == '__main__':
-    logger.info('Starting marginbot {}'.format(__version__))
+    logger.info('Starting freqtrade {}'.format(__version__))
     TelegramHandler.listen()
     while True:
         time.sleep(0.5)