If you have already used a crypto trading bot, then you should check out Pionex first. It’s a cryptocurrency exchange with in-built trading bots.
- Trading bots were provided directly on the exchange — More stable compare to API trading
- Low trading fee — Pionex trading fee is 0.05% for maker and taker
- Good liquidity — Pionex aggregates the liquidity from Binance and Huobi
- 9 bots for different market conditions
Read more about Pionex GRID Bot.
From Jan. to Jun. 2019, Bitcoin has been swinging between 5400 and 7800. In such small fluctuation, both left-side trading and right-side trading won’t have any space for profits.
Let me introduce a Bitcoin Trading Bot called Grid Trading, which is the best trading bot in a swinging market.
Contents
What is Grid Trading
Grid trading is a type of trading strategy that profits from the sideways as well as trending market conditions. In the simplest of terms, Grid trading involves hedging, or placing simultaneous buy and sell orders at certain levels. This approach aims to maximize the profits while the in-built hedging system ensures that the risks are minimized.
How Grid trading works
Grid Trading strategy will keep making profits as long as the price fluctuates. Every trade is profitable in the following graph. Grid Trading Bot is settled between 3,300 to 4,200 for Bitcoin. When the price hits each target price in the grid, the bot will take some profits or accumulate some BTC at the grid levels.
How to start using Grid Trading Bot with BitUniverse
In this tutorial, we picked BNB/USDT as an example. The Grid Bot will perform from $22 to $26, and there are 40 grids with a total of 0.8 BNB. It’ll purchase 0.8 BNB while the price rises and break through the grid level, sell 0.8 BNB if the price drop, and breakthrough the grid level.
BitUniverse AI Advisor for GRID Bot is now available.
If you’re a newbie and don’t know how to config the GRID bot, BitUniverse AI Advisor is here to help! From our statistic, users who used an AI advisor made an average of 10% more than the other users. But if you’ve already known how the grid bot work, then stick with the manual setting and set up your own strategy 😉
How to set up the BitUniverse Grid Bot
- Pick a coin you’d like to use with the grid bot
- Guided by the AI advisor or adjust the parameter by yourself
- Create your first ever Grid Trading Bot and enjoy your profit 😏
TIP for Grid Bot: Suggestion for profit per grid — 0.5~2%
After choosing the AI advisor, you’ll see the following screenshot sometimes. That’s because each exchange has its own trading rule for the minimum value per order. For example, in Binance, the minimum amount per order with USDT pair is 10 USDT. This means you’ll need at least 10 USDT per grid in Binance if you’re using the USDT trading pairs. (Binance Trading Rule)
So the bot won’t let you adjust the amount per grid in this case. Because even it uses the minimum value to calculate the required balance, you couldn’t reach the minimum balance.
The solution is to narrow down the grid range or decrease the number of the grid. (deposit more USDT to fit the minimum requirement is also a solution.)
After the Grid Trading Bot has created, you may browse the details of your Grid Trading Bot and ROI report for it.
Your current placed orders and completed orders can also be found on the DETAILS page.
Tips for Using a Grid Trading Bot in Crypto Market
- Start your Grid Trading Bot only in a swinging market. You might suffer from some unrealized loss if the price keeps tanking.
- Suggestion for profit per grid is 0.5% ~ 2%
- Ensure you have sufficient BNB and Huobi Point while trading in Binance and Huobi. (Lower your trading fee to ensure your profit, Pionex is the best for using GRID Bot. 0.05% trading fees.)
- Give it more patience. It’ll play out well eventually.
How to download the BitUniverse Trading Bot?
iOS Device
Download the BitUniverse TestFlight version directly from the official website.
Download BitUniverse and enjoy the trading bot for free on iOS
Android Device
Download the BitUniverse app directly from the Google Play Store.
Keywords: Bitcoin Grid Trading, Litecoin Grid Trading, Cryptocurrency, Trading Bot
BitUniverse was founded by the founding team of Cheetah Mobile (NYSE: CMCM), an IPO company focus on mobile security.
Here’s how the security experts in BitUniverse protect your API.
Thanks for the education. Very vital and useful for beginners like me.
Thank you Eric 🙂
good post, but hey… check the missing links (404)
https://www.pionex.com/blog/pionex-grid-bot/
https://www.pionex.com/blog/9-reason-for-using-a-grid-bot/
Thanks! I’ll fix them.