One of the main focus points in Q1 2020 is to bring more liquidity inside the order books of eterbase.exchange and as you already noticed we’ve taken some serious steps in the right direction, but that is just the start.
Trading cryptocurrencies with an automated solution become very popular because it guarantees a 24/7 trading activity, while it allows traders to manage their risks without emotions and follow a predefined trading pattern. We’ve mentioned many times that we want to build the exchange together with our users, and the integration of Hummingbot was the first step to involve you as liquidity providers on the exchange and help you earn additionally with our NEGATIVE FEES. As Hummingbot requires some basic coding skills its not that attractive to everyone, but it got the attention of some users and the background coding of its functions won't stop here.
Many Hummingbot tutorials are already available online that you can use to understand how trading bots are working and you can also use them for assistance in order to set up the bot.
But, as not everyone wants to go the extra mile in order to set up a bot, we’ve decided to take a step forward regarding bot trading — bots as a service directly on the exchange!
Yes, EterBot is finally coming to eterbase.exchange on April 16th, 2020!
The development of EterBot was a very expensive investment — timewise, but as we want to be connected as much as possible with our community and ease the process of bot trading for our users, we’ve decided that its the right thing to do.
EterBot will allow you to do close to High-Frequency pure market making directly on the exchange. EterBot will be integrated directly inside Eterbase which will allow its users to place orders through DMA (Direct Market Access) instead of through API, which means you’ll be able to do market making faster than through any other trading bot.
Eterbot Features:
At first, you will be able to use EterBot for Grid-based strategies and as we move forward more options will be introduced.
But what exactly is Grid Trading?
Grid Trading makes it easy to gain a stable, passive profit with low risk in the volatile cryptocurrency markets. This trading strategy profits from the ups and downs of the market, you set a Price Range for the bot, adjust how many Grids you want and as long as the price stays within your set range, the bot will always sell a portion when the price goes a bit up and buy a portion when it goes a bit down. But you have to be careful and follow the market, as there are two types of market movements depending on which you should set up your trading strategy:
1. Ranging Market:
The best results from the grid trading can be achieved in swinging or consolidating market where price continues to fluctuate in a specific price range.
2.Trending Market:
The grid trading strategy doesn't work in all market conditions. In a Trending Market, this method loses its strength if the price starts to decline. If the downtrend continues with few pullbacks, the combined losses from all open positions will grow exponentially higher. That's why you have to be careful with your trades and set a wide stop loss or have an in-time executed exit strategy that will prevent your account from uncontrolled losses.
At the same time you will be able to run as many bots as you want on different or even on the same markets, and in order to set up the bot all you have to do is:
1. Find the specific market where you want to do market making (Backtest option can give you some numbers on previous market movements)
2. Set the TOP and the BOTTOM price range and input the amount of GRIDS(orders)
3. Select the amount of tokens you want to use
4. Press the Create Bot button
Once the bot(s) start working you can access each of them individually inside the My Bots tab. Inside the History tab you can check the performance of your previously set up bots and also Recover bots that have already been set up by you. Open orders will show you a list of currently active orders and the Transactions tab will give you a detailed update on Fee/Profit amounts on all executed orders.
The Total Profit is calculated as:
Total Profit = Realized Profit + Unrealized Profit
Realized Profit = Price gap of two grids * Grid quantities * Number of filled sell orders
Unrealized Profit =（base current price — Average buy price）* holding base quantity
You cant control the market movements, but you can control the final outcome of your trades and EterBot will be the perfect assistant to help you even when you don't have too much time.
For up-to-date information, subscribe here: https://www.eterbase.com
Follow our social media and don’t be shy to join the discussion:
https://t.me/eterbaseexhcange
https://facebook.com/ETERBASE
https://twitter.com/ETERBASE
https://www.reddit.com/r/Eterbase
https://www.linkedin.com/company/eterbase-ag/
