How to Trade Cryptocurrencies Automatically using The Binance Strategy Trading
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Assalam-o-Alaikum Steemians !
I'm @moneyster, a professional level Cryptocurrency investor and an analyser. As usual, today I thought to share another Crypto-related experience with you. I hope this article will be considerably beneficial for all the Steemians in this community
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We all know that there are a lot of Bot Trading Tools in the Crypto field. But can we believe in some third-party apps except our genuine Exchange platform? Absolutely not. It will be a risky action for our entire Crypto portfolio. That's why we need to be careful when we share our exchange platform details with other third-party apps.
Fortunately, the Binance exchange has introduced its own method to do this Automated Trading Strategy. That strategy can be defined as Grid Trading or Strategy Trading. It means, we have some integrated options to do this Bot Trading method without using any third Part applications.
Binance Strategy Tradings are mainly two methods named Spot Grid and Futures Grid. Today I will discuss only Spot Grid as its risk is minimum as compared to the Futures Grid method.
In the Spot Grid, we have the ability to select the desired minimum and maximum range in the market and then the Automated Bot will buy and sell selected Crypto Coin within the selected Range. If the price breaks the selected range suddenly, the bot will not sell or buy coins as it is already out of range.
So, when the market goes down below the selected range, the bot will not sell those Tokens or Coins until the price recovers to the expected range. So, this method is very beneficial for any Trader who don't have time to focus on the chart continuously.
Here the security risk is very low as the Binance Strategy Trading is an integrated method built on the Binance exchange platform or mobile application.
We don't need to pay extra commission for our profits such as Traditional Trading bots.
Those Traders who don't have much time to focus on Crypto charts continuously can use this method as a very successful strategy.
Every Crypto Trader can use this Strategy without working on extra complicated settings.
Trading Speed is very high as compared to other Third-party apps as we don't need to link any other platforms with our Binance account.
Here I will demonstrate all the steps using my Binance Mobile application. You can also use the Binance web version to use this method. So, here I can select the "Strategy Trading" icon.
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From the next window, we need to select the "Spot Grid" option as we only use Spot Grid mode in this tutorial.
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Finally, we can fill the Spot Grid Strategy Trading window by entering all the important information such as Lower and Maximum price, Grids amount, Trading Pair and Create. Specially, we should follow the Artithmatic option to activate this automated Trading bot.
Here the Lower and Maximum price is the desired lowest and Maximum price which we imagine in the market as a range. So, outside of this range, the bot will not work.
The maximum Grids amount will be determined by the amount of your investment. If you wish to invest more coins, you will get more Grids amounts. Then the bot will buy or sell the selected Token according to these Grids.
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I have studied the below-sourced articles to further study these topics and I have explained all the above facts in my own words.
10% benificiary set for @tron-fan-club
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https://twitter.com/moneyster12/status/1515035294080417799?s=20&t=GSzs-mSF_zqC92v1qLBvkQ
Brother has cleared everything in a wonderful way. In fact your post has a lot to teach and a lot to understand.
Thank you very much for visiting my article.
Note: You must enter the tag #fintech among the first 4 tags for your post to be reviewed.
Thank you @fredquantum
You have really done a thorough research about your work and you have presented it well in your own way.
Thank you very much for your valuable comment.
You shared a very important topic with us today. You discussed with us today Trade Cryptocurrencies Automatically using The Binance Strategy.
Thank you very much for your detailed comment. It really motivated me to write more and more important content like the above one.
Thank you for sharing this strategy with us. I have not traded cryptocurrencies on binance before but with these easy steps, i can do that some day. Cheers!
Thank you very much for your kind response. Of course I will share some more strategies in addition to this one.