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2022-01-26 16:38:31

Binance Spot Grid Bot Strategy & How Does It Work? – Tutorial

Crypto grid bot trading has a special place in my investing + trading strategy. If it is done right, it could help anyone compound their investment in a short time. Grid bots could do wonders, especially for investors who don’t want to become full-time traders but still look for ways to take advantage of the high volatility nature of crypto-assets.

In the past, I have shared many guides and tutorials about grid bot strategy. Today, we will look into the Binance Spot market grid bot strategy. This is the newest addition by Binance and will help you make more money when the timing is right.

If this is your first time in this blog, here are previous guides and videos to help you learn about this technique.

  • Best Crypto grid trading bots
  • Pionex review
  • Crypto trading automation strategy with grid bots

We also have a dedicated course and support group for grid bot trading. Head over to https://vip.coinsutra.com to join our instant access membership and private discord group. Here is the first sample video from the course.

What is Spot Grid Trading?

Grid trading is a quantitative trading strategy. It starts with setting a lower and upper limit with a pre-configured profit-taking range. From here, the trading bot automates your buying and selling process for a profit.

It works the best when you pick a pair from a sideways or bull market and is highly volatile. Picking the right pair and right entry is the trick to maximize your profitability from this quantitative trading strategy. I have shared this in detail in our course.

How To Start Your First Binance Spot Grid Bot?

Here is how you can start using your first Binance spot grid bot.

If you don’t have an account in Binance, sign up using this special link to save money on trading fees.

Note 1: You can only have one KYC’d Binance account. You can open a new KYC account under your family member’s name.

Note 2: Binance spot grid bot strategy can be executed on mobile and desktop. For its tutorial, I will show you how to run the strategy on the desktop version of Binance. You can run the same strategy on Binance mobile app too.

Here is how you can access the grid bot on Binance mobile app.

Here is how to run this strategy on the Binance desktop/web version:

  • Login to your Binance account
  • Click on trade > Strategy trading
  • Select the pair

From the left side, select the pair in which you want to run this strategy. As I said above, selecting the right pair is key as it helps maximize your profits.

  • Set parameters

If you have used a tool like Pionex or Bitsgap in the past, you will have no problem setting up the parameter. If this is your first time and you are serious about making money from the Binance spot grid bot strategy, I highly recommend you to join CoinSutra VIP (pay in crypto) to learn.

For example, I have selected BTC:USDT pair and used the lower limit as 37000 and the upper limit as 45000. The number of selected grids are 35, which offers 0.31% – 0.41% profit/grid.

You can also set the trigger price to find an optimum entry, set stop los,s and take profit target. Once you are ready, click on create.

Based on your set parameters, the bot will start automatic trading right away or at the trigger price.

How To Check Current Running Bots?

On the same strategy maker page, you will find all your running bots and historical bot data.

Click on the icon to for a detailed order page. You will see more data around your past or current running bots.

In Conclusion: Binance Spot Grid Bot

Binance adding spot grid bot does not come as a surprise to me as it helps them increase their trading volume and traders with their automated trading. I’m sure in the coming months, we will see Binance adding more trading strategies like other crypto exchanges.

It will be interesting to see how dedicated crypto grid bot software make a difference in this growing competitive ecosystem.

News appeared first on: Coinsutra.com

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