Newbie here, could someone give me a tips for using trading bot?


I sent these points before to someone asking about these bots, maybe they’re of help for you:

What I’ve learned so far is that not all bots make sense over holding.
1) If the grids upper and lower boundary are too narrow, the bot might go ‘out of the grid’ before making it more profitable over hodling, so make the grid wide enough so that the bot has room to wiggle:)

2) Put enough grids to be able to make enough trades, but not too much, then the fees (0.05%) will eat away your profit.

3) Make sure that your investment is enough, so that the bot can make profitable trades on each grid.

4) Let it run for a decent amount of time to profit from the volatility. Let’s say an asset goes up in price, but doesn’t go down in the mean time, you’re basically just DCA’ing your way out, instead of making use of the volatility. But of course it’s still wise to start a bot while being in a dip, or at a relatively low price.

5) Take a slightly volatile asset, but a project that you ‘trust’ for a long period to just let the bot running and actually make it profitable.

Edit: btw, this is for the regular grid trading bot.

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