#CryptoTradingBots #DeFiChallenge Since I started in the world of cryptocurrencies I found very exciting trading however we spend hours and waste time when we try to make a successful trading, always waiting for the best opportunity either to buy or sell, now there are many bot on the market that automate that work and download you from that task, In Binance you have this option for free, you can operate to automate these tasks, get passive income automatically without being stuck hours at the computer waiting to make a successful trading is ideal.
This free automated trading service has as an added value how easy it is to implement which facilitates the task for many novice users. And a great help for the more experienced, in this content I will show you my experience and how to implement it, I will give recommendations that will be very helpful. Remember that bot can save you a lot of time and effort, but you must know how to use them in the most appropriate way following a strategy for it.
- The bots as I mentioned in my introduction are very important tools for trading, minimizing the possibility of losses and increasing profits, and all this automatically.
Bot
Whatever the bot to use I always recommend to follow these steps
o Make a strategy
o Have an amount to invest in the futures account.
o Configure the bot
o Execute the Bot
o Follow up on how the investment is going
Making a strategy is something fundamental, in that sense I can leave important recommendations to those users interested in investing with this tool, I took the liberty to make a trading grid which I will describe step by step with recommendations.
First of all select a pair which is widely used by my person BTC BUSD to invest in BTC using BUSD in the trading Grid,
Bitcoin has been fluctuating in a band ranging from 38 thousand dollars to 42 thousand, it has been some time with that behavior, which is why it is advisable to start the bot either manually or in advanced options put the amount to start the bot, start when the currency in my case bitcoin is in the resistance zone, this is when it is close to 38 thousand and trending downward. That is the most opportune moment since I will surely start a rebound towards 42.
- We must already have funds in BUSD in the futures account, if you don't have them you must transfer
In my case I decided to do it with an amount of 45 BUSD.
- Now we must go to the Strategic Trading account
We are already in the tool whose strategy is to make an automatic grid trading.
You can use the automatic configuration, which is generally very good, however for my experience and analysis I do it manually
Just configure the parameters according to your preference and you can start the bot.
- As you can see, it is very easy to set up a bot in binance Grid trading. All that is left is to confirm the grid order
- The bot is now activated
- So far so good, wait until the next day when at least 23 hours have passed since the bot was started, and see the results.
I am still executing 9 orders and several have already been executed with profits and the bot continues to execute with the selected settings, if I finish it will automatically pass the amount invested and the profits to the future account and will be available again.
- If we consult in the futuristic wallet account, we can verify that the trading was in profit after 23:00 hours.
- For being a perpetual future this will continue to operate until I decide to end it, for my experience with this pair I will leave it a while longer and to continue fluctuating according to the selected bands in a month will be higher profits, the bot will continue buying cheap and selling expensive, is the idea, while I just have to evaluate,
I recommend the above process apply it with several cryptocurrencies and make the rotational trading as follows, you can start with at least 3 cryptocurrencies of your choice, previously evaluated, when you see profits end the bot and start another with another cryptocurrency under the same analysis of this, and so on, at the end of the month you will see good profits.
- Definitely we are in the presence of a great option to earn passive without much effort, of course following a previously designed strategy, in this content I described my personal strategy and it has given me good results, of course it all depends on the amount you invest and the continuity of the bot, I recommend programming them daily alternating the currencies to invest as explained in detail in this content.
What are the advantages of using Binance Trading Grid for automatic trading?
o Time saving and less effort
o They work 24 hours a day and as long as you determine.
o Ease of use, widely recommended for beginners.
o Free of charge
o Earn passive income at times when the market becomes very volatile.
o Minimize unwanted loss while trading
o I can monitor the bot and stop if I wish, reclaiming my gains
o I can reprogram and replay the bot, that saves me time.
