Are you looking to start with Grid trading bots?
Well, there are only a few Grid bots which are quite remarkable, and in the past few months, I had to chance to explore many of them. I infact used all of them to run a grid bot, and Here is one of my trade results with Grid auto trading bot:
Do notice the frequency of trade (Time-stamp).
Now, I feel confident enough to share some of the insights from my learnings, and exploration of these grid trading bots.
However, If you are new here, I highly recommend reading about best crypto trading bots.
Now, moving on to Grid trading bots…
Grid Trading works best in the ranging sideways market and using a bot you could execute your strategy even when you are sleeping. Grid trading gives you profit with ups and downs of the price fluctuations in the market, and works best when any particular pair is in a range with no clear up or down trend in a longer period.
Disclaimer: Trading is a skill, and using a bot doesn’t guarantee you would make money. You should rather invest time learning the basics, and then use a bot to automate your strategy. It took my more than a year to get results, so do not RUSH!
Disclosure: This article contains affiliate links, but every word is unbiased, and based on real-experience.
Those who are into scalp trading, can also take advantage of Grid bots to automate their trading strategy. Here I have compiled a list of best available Grid auto bots, with my remark and experience. Some of them are free, and a few of them are paid.
My suggestion is to try one or two at a time, and see which one fits your style of trading.
Here we go…
3 Best Automated Grid trading bots:
BitUniverse is a free trading bot which offers various kind of grid bots. What I like about Bituniverse (apart from being free is), it offers many advanced features that no other similar tool offers.
- Stop loss feature
- Use AI strategy to auto-set your grid
- Manual Grid setting (The one I recommend)
- Leveraged GRID Bot
- Margin GRID Bot
Getting started is also easy, and it works with all popular exchanges.
Overall, for many who are looking to start for free, BitUniverse grid bot is the best available option. You connect with your exchange using API key, and since your crypto assets are not stored on BitUniverse, you are safe. They do have a few additional products, which I have not tested, and I suggest not to try anything apart from manual bot trading on BitUniverse. Once I have more details, I will write a separate article for the same.
2. 3Commas Grid Bot
I have been a user of 3Commas for a long time, and I really like their interface, and mobile app to track the performance or stop the bot. I have talked about 3Commas in depth here on my 3Commas review, which you must check out.
3Commas offers paper trading which is idle for those who want to test Grid bot before actually putting in the real money. It also works with all popular cryptocurrency exchanges, and their free tutorials and guides will help you to master the art of Grid trading.
3Commas also offers AI-based grid trading, where you let their AI decide the upper and lower limit for the grid. Or, you can set a manual upper and lower limit for grid size.
Here are some of my results after using grid bots:
It definitely lacks the feature of stop-loss, or auto grid resizing, which may make a lot of difference for many novices. Unlike others, 3Commas is not free, and cost about $49/month for grid bot trading. However, you get 3 days trial, which is good enough for you to test out the system. Either way, in my experience 3Commas, is a solid choice for a majority of intermediate and experienced traders.
To be honest, I could not find much detail on how Quadency sets the price for grid, but what I like about them is; it gives you the control on what to do when exit price is reached. Here are 4 options:
- Recreate grid around exit price and continue trading
Use this option if you have sufficient balance in quote and base to re-create the grid at the point where the price exits the grid. Note – this involves cancelling all open orders and close open positions with a market order.
- Cancel all orders and stop bot
Use this option if you want to cancel all remain open orders and stop the bot. This option will not close any open positions. A position is open if the bot has bought quantity but has not sold the same amount or conversely if it has sold but has not bought back the same amount.
- Cancel all orders, close all positions and stop bot
Use this option if you want to close all positions in addition to cancelling any remaining open orders.
- Do nothing
Use this option if you would rather wait for all open orders to eventually get filled. As the price reenters the grid, the bot will resume trading. However, if the price never re-enters the grid, the orders will remain open indefinitely until manually cancelled.
You can read more about Quadency grid bot feature here.
There are a few more options like Pionex which is primarily an exchange, but offers bot trading. Though I have not done the diligence of this exchange, so I would not trust this with my money, as it requires us to deposit the fund. Rest other options listed above, let you connect with an exchange using API, and thus your funds are more or less the safe.
Conclusion: Which grid bot to use?
Well, Bituniverse should be your first choice as it is free.
If you are fairly new, then use 3Commas, as they offer 3 days trial and their help guide is good enough to get started.
As it is, I will keep an eye on more new bots which are coming in the market, and will include which is worthy enough to be listed here on our CoinSutra resources.
Now, it is your turn to let me know how your experience has been with Grid trading. Also, if you know of any other Grid trading bot, do let me know via comment section below.
Harsh Agrawal is the Crypto exchanges and bots experts for CoinSutra. He founded CoinSutra in 2016, and one of the industry’s most regarded professional blogger in fintech space.
An award-winning blogger with a track record of 10+ years. He has a background in both finance and technology and holds professional qualifications in Information technology.
An international speaker and author who loves blockchain and crypto world.
After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.
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