How to set up the parameters for my first grid bot?
One of the easiest and more reliable options for newbies is AI Strategy. Based on the coin’s volatility over the past seven days, Pionex AI establishes the upper and lower values of the range, as well as the number of grids. All you’ll need to do is to use the slider to choose how much of your funds you want to use for the Grid Trading Bot. Once you have done that simply click Create and the bot will start trading and generating a passive income for you!
In the Set Myself mode, four parameters are required:
- Upper Price: The upper range of your bot.
- Lower Price: The lower range of your bot.
- Grid quantity: There’s a limit on the number of grids, you can’t set it below 2 or above 150
- Total Investment: the amount of money devoted to the bot
There are some advanced features that are optional:
- A Trigger Price will automatically start your GRID Bot when the market price reaches that price.
- Stop-loss, once the price drops below that price, it will stop the bot and sell all the base currency to the quote currency.
- A Take Profit will stop the bot and cancel all the buy orders. It must be higher than the upper limit price.
After the bot has been created, it’ll slice the range into sections (Grids) and place orders in each of these sections. As the price fluctuates, it’ll keep executing buy orders whenever the price goes a bit down and sell orders whenever the price goes a bit up, as long as the price stays within the range it will earn Grid profit.
When working in the manual mode of the Grid Bot, remember that the Profit/grid must be greater than the size of the commission multiplied by two (fees for sale and purchase) for the bot to trade in profit.