Automated Infinite Grid Trading Bot Guide By BitKan Crypto Exchange
Do you know a trading bot automatically buys low and sells high?
Even though Bitcoin has risen tens of thousands of times over the past few years, many people missed out on the opportunity to capitalise on the gains. Often, we wait for the perfect time to enter, resulting in us not entering the market at all. In order to leverage the volatile cryptocurrency market, we can use a grid trading bot.
How To Launch Infinite Grid Trading Bot?
Step 1. Prepare Bot Trading Wallet With Coins
● Find out how to buy cryptocurrency with fiat currency
● Find out how to deposit coins onto BitKan
Step 1A. On BitKan APP, click [Trade] at the bottom right of the APP. Next, click on [Bot] on the top right of the APP. This is the page where you can select your preferred bot trading strategy. Currently, there are 4 bot trading strategies on BitKan: Interval Grid Trading Bot, Infinite Grid Trading Bot, Two-Way Grid Trading Bot, and Rebalancing Trading Bot.
Step 1B. In this example, we will use the Infinite Grid Trading Bot. Select [Infinite Grid] to proceed. There will be a brief overview of the selected trading strategy. It is advisable to read through what infinite grid is, the bot features, and the best performing bot over the last 7 days. Next, select [Create] once you have understood the details of the trading strategy. On this page, you can choose between AI Strategy and Manual Strategy. The two modes are ideal for both beginners and experienced traders.
AI Strategy recommends the optimal parameters from backtested data, whereas Manual Strategy allows experienced traders to adjust the parameters accordingly to suit their trading preferences. By using AI Strategy, traders only need to set the desired price range and profit grid range for the bot to work with. All backtest are executed based on past data, which foreshadows the risk and profit overtime when the trading strategy is used appropriately. Kindly note that upon launching the bot, the bot works automatically. If you would like to withdraw profits, you may choose to withdraw your preferred amount of coins out and let the trading bot continue to trade with the remaining coins. Alternatively, you can withdraw all your coins out and completely stop the bot.
Advantages of Infinite Grid Trading Bot
Simply put, if you predict that the price will fluctuate between $100 and $10,000, you can run a grid trading bot to help you auto-buy and sell in this price range. As long as the price fluctuates within the range specified, the bot will keep making arbitrage for you. The strategy distributes the price range into a grid and divides the funds into several equal parts. Following after, the bot buys once for every frame when the price falls, and sells once for every frame it rises, and all these are done without manual supervision.
The infinite grid trading bot does not require you to put an Upper Price Limit. The sky is the limit! This means that the Bot will keep trading infinitely for you, as long as the price stays above your specified “Lower Price Limit”. Furthermore, you no longer let trading opportunities go to waste. It is impossible to keep an eye on the market and analyze charts all the time. However, the trading bot allows you to automate your investing strategy, which helps you to buy and sell 24/7 even while you are asleep. You need less than a minute to set up the trading bot, and the strategy does not require any algorithms or indicators of complicated market signals. It is simple to use and the bot does all trading for you.
In addition, the trading bot removes emotion. As humans, we tend to be emotional. This means that there will be moments of experiencing a fear of missing out and panic selling, especially in moments of pumps and dumps. This is where an infinite grid trading bot shines. The advantage of this bot-trading strategy is that the grid can produce the profits of each swing during the fluctuation period. This allows you to fully optimize profits in a fluctuating market, which is why coins with high volatility and good depth make a good candidate for bot trading. The more frequent the market fluctuates, the wider spread of returns for the trader.
An easy way to understand grid trading is to imagine that the grids are fishing nets that help to fish for profits. A large fishing net allows us to catch big fish, but chances are there will not be a high volume. In comparison, a small fishing net may not catch any big fish at all, but there is a higher tendency of it catching a lot of small fish. Instead of simply using only a large, medium, or small grid and missing out on potential gains, the All-In-One Grid Trading Strategy combines all three grids to ensure all fishes are caught.
The Function of Grid Interval
Large, medium and small grids have their own specific function. In order to capture large profits across the board, the All-In-One Grid Trading Strategy uses higher target profit to form large grid parameters. This means that whenever there is a significant price movement, the bot will capture the price action. In order to capture medium-to-high profit action, traders may lower the target profit to form medium grid parameters. Even though the grids that it covers may not be as wide as large grid parameters, the goal is to capture short-to-medium price profits.
This approach is good for assets with considerable volatility. Also, it is recommended to use small grid parameters. At first glance, it may seem inferior as compared to medium or large grid parameters. But, the aim of small grid parameters is to earn even the tiniest of fluctuation and be stoic, especially in times when price action becomes too volatile. Rather than focusing on only one specific grid and missing out on potential gains, the All-In-One Grid Trading Strategy combines all three grids to produce promising returns.
Congratulations! You have learned more about infinite grid trading bot, and how to complete your first infinite grid bot trade on BitKan!
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