Binance Grid Bot – Binance is one of the leading cryptocurrency exchanges. Its built-in grid bot is an automated trading tool that helps traders make money even when market conditions are not favorable. It is easy to set up and does not require complicated calculations. However, you need to be careful in choosing the right bot for you. The top bot for you will depend on your trading style and risk tolerance. You can choose a free trial or a paid version.
This trading Binance grid bot works by placing a grid of buy and sell orders on a chosen pair. When the price reaches a certain point in the grid, the buy or sells order is executed. The system automatically stops the trading process when it has completed the delivery of the position. The price then returns to the grid boundary. Traders can also use the stop grid to cancel unfilled orders when the price is about to enter the grid.
It has several presets and is easy to configure. You can change the number of grids, the size of the grids, the amount of investment, and the leverage. This feature is useful if you want to start trading without putting in a lot of work. It is also good for new users of the trading bot. You can also get help from full customer support.
There are three main types of trading bots. Aside from the automated mode, there is also a manual mode, where individual changes to the grid spacing and scaling can be made. This is a good method to expand a strategy. You can also choose the timeframe you want to trade in. There are also grid limit orders that are placed when the market falls below a certain price. You can set the minimum and maximum price levels you are willing to place an order at.
The 3Commas trading platform is a good example of a grid trading bot that works well. It has an intuitive interface that can be used on mobile devices. The trading bot supports most major exchanges. It has a 3-day free trial, as well as a free guide and tutorial. You can also subscribe to a paid plan, which costs $49 a month. You can monitor your own trading performance and track the portfolios of other users. You can also engage in Smart Trading, which allows you to set multiple orders at the same time. You can save time and earn more profits with this bot.
Another option is the Stop-Loss grid, which closes all your open positions at the market price when the grid stops. It is recommended that you set the stop-loss bottom and top prices to be lower and higher than the trigger price. This ensures that you will get the most profit from your trades. The Stop-Loss grid is available in both automated and manual modes.
If you are looking for a more dependable grid trading bot, you should consider the Pionex trading platform. This exchange has many features to offer, including an extensive list of presets and low fees. Traders can trade 346 assets, including cryptocurrencies. The platform also offers an AI-based grid trading option, which lets you set both the upper and lower limits of your trading. It also supports leverage up to 4x and 2x.