diff --git a/freqtrade/analyze.py b/freqtrade/analyze.py
index 7f504e215..5c734b24e 100644
--- a/freqtrade/analyze.py
+++ b/freqtrade/analyze.py
@@ -8,8 +8,6 @@ from pandas import DataFrame, to_datetime
 from freqtrade.exchange import get_ticker_history
 from freqtrade.vendor.qtpylib.indicators import awesome_oscillator
 
-logging.basicConfig(level=logging.DEBUG,
-                    format='%(asctime)s - %(name)s - %(levelname)s - %(message)s')
 logger = logging.getLogger(__name__)
 
 
diff --git a/freqtrade/main.py b/freqtrade/main.py
index 2371f90a9..1e31a0ca7 100755
--- a/freqtrade/main.py
+++ b/freqtrade/main.py
@@ -5,21 +5,19 @@ import logging
 import time
 import traceback
 from datetime import datetime
-from typing import Dict, Optional
 from signal import signal, SIGINT, SIGABRT, SIGTERM
+from typing import Dict, Optional
 
 import requests
 from jsonschema import validate
 
 from freqtrade import __version__, exchange, persistence
 from freqtrade.analyze import get_buy_signal
-from freqtrade.misc import CONF_SCHEMA, State, get_state, update_state
+from freqtrade.misc import CONF_SCHEMA, State, get_state, update_state, build_arg_parser
 from freqtrade.persistence import Trade
 from freqtrade.rpc import telegram
 
-logging.basicConfig(level=logging.DEBUG,
-                    format='%(asctime)s - %(name)s - %(levelname)s - %(message)s')
-logger = logging.getLogger(__name__)
+logger = logging.getLogger('freqtrade')
 
 _CONF = {}
 
@@ -42,7 +40,10 @@ def _process() -> bool:
                     Trade.session.add(trade)
                     state_changed = True
                 else:
-                    logging.info('Got no buy signal...')
+                    logger.info(
+                        'Checked all whitelisted currencies. '
+                        'Found no suitable entry positions for buying. Will keep looking ...'
+                    )
             except ValueError:
                 logger.exception('Unable to create trade')
 
@@ -85,7 +86,10 @@ def close_trade_if_fulfilled(trade: Trade) -> bool:
             and trade.close_rate is not None \
             and trade.open_order_id is None:
         trade.is_open = False
-        logger.info('No open orders found and trade is fulfilled. Marking %s as closed ...', trade)
+        logger.info(
+            'Marking %s as closed as the trade is fulfilled and found no open orders for it.',
+            trade
+        )
         return True
     return False
 
@@ -163,7 +167,10 @@ def create_trade(stake_amount: float) -> Optional[Trade]:
     if one pair triggers the buy_signal a new trade record gets created
     :param stake_amount: amount of btc to spend
     """
-    logger.info('Creating new trade with stake_amount: %f ...', stake_amount)
+    logger.info(
+        'Checking buy signals to create a new trade with stake_amount: %f ...',
+        stake_amount
+    )
     whitelist = copy.deepcopy(_CONF['exchange']['pair_whitelist'])
     # Check if stake_amount is fulfilled
     if exchange.get_balance(_CONF['stake_currency']) < stake_amount:
@@ -255,15 +262,28 @@ def main():
     Loads and validates the config and handles the main loop
     :return: None
     """
-    logger.info('Starting freqtrade %s', __version__)
-
     global _CONF
-    with open('config.json') as file:
-        _CONF = json.load(file)
+    args = build_arg_parser().parse_args()
 
+    # Initialize logger
+    logging.basicConfig(
+        level=args.loglevel,
+        format='%(asctime)s - %(name)s - %(levelname)s - %(message)s',
+    )
+
+    logger.info(
+        'Starting freqtrade %s (loglevel=%s)',
+        __version__,
+        logging.getLevelName(args.loglevel)
+    )
+
+    # Load and validate configuration
+    with open(args.config) as file:
+        _CONF = json.load(file)
     logger.info('Validating configuration ...')
     validate(_CONF, CONF_SCHEMA)
 
+    # Initialize all modules and start main loop
     init(_CONF)
     old_state = get_state()
     logger.info('Initial State: %s', old_state)
@@ -273,7 +293,7 @@ def main():
         # Log state transition
         if new_state != old_state:
             telegram.send_msg('*Status:* `{}`'.format(new_state.name.lower()))
-            logging.info('Changing state to: %s', new_state.name)
+            logger.info('Changing state to: %s', new_state.name)
 
         if new_state == State.STOPPED:
             time.sleep(1)
diff --git a/freqtrade/misc.py b/freqtrade/misc.py
index 585aee3de..4787ef2f9 100644
--- a/freqtrade/misc.py
+++ b/freqtrade/misc.py
@@ -1,7 +1,11 @@
+import argparse
 import enum
+import logging
 
 from wrapt import synchronized
 
+from freqtrade import __version__
+
 
 class State(enum.Enum):
     RUNNING = 0
@@ -32,6 +36,35 @@ def get_state() -> State:
     return _STATE
 
 
+def build_arg_parser() -> argparse.ArgumentParser:
+    """ Builds and returns an ArgumentParser instance """
+    parser = argparse.ArgumentParser(
+        description='Simple High Frequency Trading Bot for crypto currencies'
+    )
+    parser.add_argument(
+        '-c', '--config',
+        help='specify configuration file (default: config.json)',
+        dest='config',
+        default='config.json',
+        type=str,
+        metavar='PATH',
+    )
+    parser.add_argument(
+        '-v', '--verbose',
+        help='be verbose',
+        action='store_const',
+        dest='loglevel',
+        const=logging.DEBUG,
+        default=logging.INFO,
+    )
+    parser.add_argument(
+        '--version',
+        action='version',
+        version='%(prog)s {}'.format(__version__),
+    )
+    return parser
+
+
 # Required json-schema for user specified config
 CONF_SCHEMA = {
     'type': 'object',
diff --git a/freqtrade/persistence.py b/freqtrade/persistence.py
index 8c23cf713..e48538754 100644
--- a/freqtrade/persistence.py
+++ b/freqtrade/persistence.py
@@ -11,8 +11,6 @@ from sqlalchemy.orm.scoping import scoped_session
 from sqlalchemy.orm.session import sessionmaker
 from sqlalchemy.pool import StaticPool
 
-logging.basicConfig(level=logging.DEBUG,
-                    format='%(asctime)s - %(name)s - %(levelname)s - %(message)s')
 logger = logging.getLogger(__name__)
 
 _CONF = {}