An introduction to Spot Grid Trading
Friends does the name Spot Gride sound new to you or you have heard about Spot Gride trading before now? Trading the financial markets like crypto has been made so easy with the help of bots trading like Spot Grid and other forms of trading strategies.
The essence of this post, is to expose you to what spot gride trading is and how you can configure spot gride trading on any crypto exchange that supports spot grid trading.
| Spot Grid Trading |
|---|
Spot Grid is a trading bot that is automatically designed to automate the buying and selling of cryptocurrency. Grid trading is designed to help you place an order automatically in the spot market based on the interval you have configured. In spot grid trading you will be required to set up and upper and lower prices of the range at which you want your trade to execute.
Once you have configured your trading in the spot grid you don't have anything to worry about as the trading bot will do the work for you based on your configuration. The bot will help you buy low and sell high for profits. However, spot trading is also subjected to market volatility.
| How Spot Grid Trading Works |
|---|
Spot Grid Trading begins with you setting your lower price and higher price limit with a pre-configured range that you think is profitable to you. Once you have configured your bot, it will then automate the buying and selling process for you even without you being online.
However, friends, the spot grid doesn't just work like that you have to first ensure that you have selected a good trading pair for trade. Selecting the right pairs is the best way you can profit from spot grid trading. Let's take a look at how you can configure spot grid trading on Binance.
| How to set/configure the spot grid trading bot on Binance |
|---|
Binance exchange is what we will be using for this illustration.
- First you have to log in to your Binance account.
 |  |
|---|
Once you have logged in, click on Trade and then tap on Bots at the top of your Binance app.
Tap on the spot grid and select pair. The left-hand side is where you will see a pair of different currencies which you can select from.
Set your parameters:
The configuration of your parameters is very important as it is what will determine your profit. For this illustration BTC/USDT pair is what I have selected with a higher limit of $75,000 and a lower limit of $70,000.
 | |
|---|
From the screenshot, the percentage of the grid is what will determine my profits which is between 0.40% to 0.44% profit.
- Finally, as soon as you have finished setting your parameters, click on Create and wait for the bot to automate your trading for you.
Conclusion
Spot Grid Trading is another way of trading the crypto market in which you can take advantage of your busy time and allow the Binance bot or that of the exchange you have chosen to use to automate the buying and selling of cryptocurrency for you. Please, note that this post is not in any way financial advice, but serves as educational content.
All screenshot images are gotten from my Binance App.
Thank you, friend!
I'm @steem.history, who is steem witness.
Thank you for witnessvoting for me.
please click it!
(Go to https://steemit.com/~witnesses and type fbslo at the bottom of the page)
The weight is reduced because of the lack of Voting Power. If you vote for me as a witness, you can get my little vote.
Twitter Promotion Link
Hello friend, good post greetings, How to install/configure the spot grid trading robot on Binance I wanted to tell you why it has stopped providing support.
Note:- ✅
Regards,
@theentertainer