12 Reasons You Should Try Crypto Grid Trading Bots (Oct 2022 Updated)
Crypto Trading is not easy. It would be best if you had time and effort to be profitable in trading. Of course, we can HODL and wait for the next crypto bull run.
But is there any way we could still earn a profit during the bear market? Yes! Trading bots can help us seize money-grabbing opportunities without the need to be around the computer 24/7 and lessen your trading burden!
Here are the 50 reasons you should try crypto trading bots.
1. The Trading Bots For Beginners: Grid Trading Bots
Grid Trading bots are the most accessible bots to use for beginners in the market.
But what is grid trading?
Grid trading is a strategy that places orders within a price range with an array of orders, forming a “price grid”.
It is so simple that you can set up grid trading bots by just entering a few parameters. No Programming Is Needed!
2. Perfect For Sideway Markets
Grid trading is perfect for a dormant market where no trends are formed in the market. Price moves sideways within a price range. Grid trading can capture all the ups and downs and make a profit from it.
3. Pure Logical Execution In Trading
One advantage of using a bot is emotions can be isolated from trading. You can avoid diving into an over-hyped market or missing the best investment opportunity in an under-valued market.
Trading bots do their job as long as the logical setup is triggered, without any involvement of emotions.
4. Easy Tracking of Historical Data
Grid trading bots can track down trading records easily with setups. It is easy for traders to optimise the bots based on historical data.
5. Possible Copy Trading
If you know nothing about grid trading and have no time to learn? You can copy other successful bot settings and earn a handsome return.
6. Trading Bots Can Run Non-Stop Across Many Markets
24/7 crypto market offers a lot of trading opportunities. However, we can’t stay around the computer all the time. Here comes the assistance of grid trading bots.
7. Easy Entrance
You don’t need a huge fortune to get your trading with grid trading bots. Depending on the setup of your bots, you may set up your bot with a minimum of 15 USD.
8. Grids Trading Are Available in Popular Exchanges
Most popular crypto exchanges like Bybit and Binance also provide grid trading, and some of them, like Bybit, offer no trading commission. This gives you a massive advantage in grid trading!
9. Highly Customizable
The grid trading bot is easy to use, and it is highly customisable. To set up your bot, all you need to do is to configure the parameters according to your goal.
Generally speaking, here are a few things you need to set up.
Pair: the pair of cryptos you want to trade with.
Price range: the range which you want to trade within.
No. of grids: it decides the number of grids set up within the price range. The more grids you set up, the smaller intervals the bots will trade with. However, remember to consider the transaction fees.
Total investment: the amount of your investment.
Here are the advanced settings:
Entry Price: the price you want the bot to enter the market.
Stop-Loss Price: the price you want the bot to exit the market with a loss when the market price is below this price.
Take-Profit Price: the price that you want the bot to exit the market with a profit when the market price is higher than this price
10. Not much monitoring is Needed
After you have set up a trading bot, you don’t need to check out the robots all the time. You can rest assured if you have configured solid trading bots.
11. Better Risk Management
Configuring a trading bot can provide better risk management for you because there a lum-sum of capital is divided into small chunks of trades with a bot. So each trade will not cause a huge drawdown of the capital as a whole.
12. Capturing the Spikes with illiquidity
Using the bot grid trading strategy means you can capture the sudden spike by setting up a wide range of orders.
In the case of sudden huge buying orders or selling orders, grid trading bots can help with filling up the demand or supply by increasing liquidity in the market. Thus, grid trading is perfect for market making.
How To Set Up A Grid Trading Bot?
Step 1. Get an account from Bybit.com
Step 2. Deposit desired capital into your account.
Step 3. Go to the trading bot page.
Step 4. Set up your grid trading bots with configuring parameters.
Step 5. Click “Create Now”.
Step 6. Wait for a bit and check the performance later!
Bybit Special Offer: 0 fees for Grid Bot Trading
Bybit is having a special offer since Sept 2022, if you register an account now, you can “Enjoy 0 fees for Grid Bot trading as well as spot trading!”
Affiliate Disclaimer: If you register an account through my referral link, I will be earning a small commission. But don’t worry if you don’t feel like it. I will be also happy to share valuable information with you!
Feel free to let me know if you have any questions, I will be happy to share my knowledge! But please note that I am not a professional financial advisor. The information is for educational purposes only! ;D
