Grid bots are used to automate the trading process. By using a grid, users can trade a range with very little effort. Grid trading bots allow you to make money in tight ranges and avoid emotional decisions.👀
, this grid trading service works for many kinds of traders. Since KuCoin lists many altcoins in their ealy stages, this exchange is perfect to take advantage of the early days of new altcoins.As the largest exchange on the block, Binance too offers spot and futures grid trading. A unique feature of Binance is how they divide the price range from lower to upper limit. Binance’s grid trading tool has two different modes: arithmetic and geometric.
One of the biggest problems in grid trading is that traders may underestimate how clinically the bot will execute trades. Even when the strategy is consistently unprofitable, the bot will continue to run until it is stopped manually, or when it runs out of funds. Therefore, the trader will still need to pay attention to the market to determine if they still want to operate the grid.
As a result, the market traded in a 0.41% range for most part of the day. Grid trading strategies can help you capitalize on these tight ranges, so long as you don’t forget to turn it off before the rate hike decision is announced.This concludes our article on grid trading bots, their benefits, and the relevant strategies. Grid trading is mostly profitable in ranging environments.
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