INTRODUCTION
Welcome to another article where you will learn how to make $100 per day with the Binance Trading Bot. In this article, the speaker will guide you through the process of setting up and using the bot, while also discussing the advantages and disadvantages of using it. But before we dive in, let's take a moment to introduce Crypto888.fun. Crypto888.fun features videos on crypto, personal finance, and making money online.
ACCESSING THE BINANCE TRADING BOT
Instructions for accessing the trading bot page on Binance platform via laptop
To access the trading bot page on the Binance platform using your laptop, follow these steps:
- Go to the Binance platform and click on the "Trade" tab.
- From the dropdown menu, select "Trading Bot".
- You will be redirected to the trading bot page on Binance.
Instructions for accessing the trading bot page on Binance platform via phone
If you prefer to access the trading bot page on the Binance platform using your phone, here are two methods:
- Tap on the "More" tab at the bottom of the screen.
- Scroll down and tap on "Trading Boards". This will take you to the Binance trading bot page where you can see the different available trading boards.
- Alternatively, you can go back to the home page and tap on the "Trade" button at the bottom of the screen.
- From there, tap on the "Sport Grid" button to access the Sport Grid trading board. If you want to see the other trading boards, tap on "Trading Boards".
Explanation of the different trading boards available
On the Binance trading bot page, you will find various trading boards that serve different purposes. Here are the most common ones:
- Sport Grid: This trading board automates the buying and selling of cryptocurrencies within a price range to make profits based on small price changes.
- Futures Grid: This trading board is designed for futures trading, allowing you to take long or short positions within a specified price range.
- Auto Invest: This trading board provides a feature for automated investing, where the trading bot will manage your investments based on your specified parameters.
These trading boards offer different strategies and options for trading on the Binance platform. It's important to choose the one that aligns with your trading goals and risk tolerance.
SPORT GRID TRADING BOARD
Sport Grid trading is a type of trading strategy that automates the buying and selling of cryptocurrencies within a price range to make profits based on small price changes. With the Binance Trading Bot, you can easily set up and use the Sport Grid trading board to make money on a daily basis.
Selecting the trading pair
The first step in using the Sport Grid trading board is to select the trading pair. This is the pair of cryptocurrencies that you want to trade, such as ETH/USDT. Simply search for the trading pair using the search function on the platform.
Setting parameters for the trading board (Auto, Popular, Manual)
Once you have selected the trading pair, you can set the parameters for the trading board. There are three options to choose from: Auto, Popular, and Manual.
The Auto option allows the trading board to set all the parameters for you, including the time period, price range, number of grids, and profit per grid. All you need to do is select the time period and the amount you want to invest.
The Popular option displays popular trading boards that have been created by other users. You can simply copy these trading boards to use them for your own trading.
The Manual option allows you to set all the parameters yourself. This gives you more control over your trades and allows you to customize the trading board to your preferences.
Detailed explanation of manual parameter setting
If you choose the Manual option, you will need to enter the price range, number of grids, and investment amount yourself. The price range is the range within which the trading board will take trades. The number of grids determines the number of different prices at which the trading board will take trades. The investment amount is the amount of money you want to use for the trading.
Optional settings for trailing up, grid trigger, stop trigger, and sell all based coins on stop
There are also optional settings that you can choose to enable or disable. The trailing up setting cancels any orders when the price of the cryptocurrency moves above the upper limit of the price range. The grid trigger setting allows you to set a specific price at which the trading board will start taking trades. The stop trigger setting allows you to set a stop loss or take profit price at which the trading board will automatically stop. The sell all based coins on stop setting allows the trading board to sell all the cryptocurrencies and convert them to USDT when you stop the trading board.
Creating and tracking the trading board
Once you have set all the parameters for the trading board, you can create it and start tracking its performance. The trading board will take trades based on the parameters you have set, and you can monitor its progress on the platform. You can see the time you created the trading board, the trading pair, the total investment, and the total profit.
Using the Sport Grid trading board can be a convenient and efficient way to make money with cryptocurrency trading. Just make sure to understand the risks involved and set parameters that align with your trading goals and risk tolerance.
FUTURES GRID TRADING BOARD
Futures Grid trading is a type of trading strategy that involves taking long or short positions within a specified price range. With the Binance Trading Bot, you can easily set up and use the Futures Grid trading board to make profits in futures trading.
Selecting the trading pair
The first step in using the Futures Grid trading board is to select the trading pair. This is the pair of cryptocurrencies that you want to trade, such as BNB/USDT. Simply search for the trading pair using the search function on the platform.
Setting parameters for the trading board (Auto, Popular, Manual)
Once you have selected the trading pair, you can set the parameters for the trading board. Similar to the Sport Grid trading board, there are three options to choose from: Auto, Popular, and Manual.
The Auto option allows the trading board to set all the parameters for you, including the time period, price range, number of grids, and profit per grid. All you need to do is select the time period and the amount you want to invest.
The Popular option displays popular trading boards that have been created by other users. You can simply copy these trading boards to use them for your own trading.
The Manual option allows you to set all the parameters yourself. This gives you more control over your trades and allows you to customize the trading board to your preferences.
Detailed explanation of manual parameter setting
If you choose the Manual option, you will need to enter the price range, number of grids, and investment amount yourself. The price range is the range within which the trading board will take trades. The number of grids determines the number of different prices at which the trading board will take trades. The investment amount is the amount of money you want to use for the trading.
Optional settings for trailing up, grid trigger, stop trigger, and sell all based coins on stop
There are also optional settings that you can choose to enable or disable. The trailing up setting cancels any orders when the price of the cryptocurrency moves above the upper limit of the price range. The grid trigger setting allows you to set a specific price at which the trading board will start taking trades. The stop trigger setting allows you to set a stop loss or take profit price at which the trading board will automatically stop. The sell all based coins on stop setting allows the trading board to sell all the cryptocurrencies and convert them to USDT when you stop the trading board.
Creating and tracking the trading board
Once you have set all the parameters for the trading board, you can create it and start tracking its performance. The trading board will take trades based on the parameters you have set, and you can monitor its progress on the platform. You can see the time you created the trading board, the trading pair, the total investment, and the total profit.
Using the Futures Grid trading board can be a profitable strategy for futures trading. Just make sure to understand the risks involved and set parameters that align with your trading goals and risk tolerance.
CONCLUSION
In summary, using trading bots for sports and futures trades can be a convenient and efficient way to make money with cryptocurrency trading. The Binance Trading Bot offers options like the Sport Grid and Futures Grid trading boards, which automate the buying and selling of cryptocurrencies within specified price ranges to make profits based on small price changes. With the Auto, Popular, and Manual parameter options, users can customize their trading strategies and set their own parameters.
However, it is important to understand the risks involved in using trading bots and to set parameters that align with your trading goals and risk tolerance. While the trading bot takes care of the trades for you, it is still crucial to stay informed and monitor the bot's performance.
After 7 days, the speaker will provide a follow-up video to show the results of using the trading bots. To stay updated, it is encouraged to subscribe to the YouTube channel, like the video, and turn on notifications to receive alerts for new content.
FAQ
Here are some frequently asked questions about using the Binance Trading Bot:
What is the minimum investment required for using the trading bots?
The minimum investment required for using the trading bots depends on the specific trading board you choose. For example, for the Sport Grid trading board, the minimum investment is 277 USDT. It's important to have the required amount of USDT in your sports wallet before using the trading bots.
Can I use the trading bots on other crypto platforms?
No, the Binance Trading Bot is designed specifically for the Binance platform. You cannot use the trading bots on other crypto platforms.
What are the risks involved in using the trading bots?
Using trading bots involves certain risks, such as market volatility and potential losses. It's important to understand that the trading bots are not foolproof and cannot guarantee profits. It's recommended to carefully set parameters and monitor the bot's performance.
How often should I track and adjust the trading bots?
The frequency of tracking and adjusting the trading bots depends on your trading strategy and goals. It's generally recommended to regularly monitor the bot's performance and make adjustments as needed. This could be daily or weekly, depending on your preferences.
Can I use the trading bots without any prior trading knowledge?
While the trading bots automate the buying and selling process, it's still important to have a basic understanding of trading concepts and strategies. Having prior trading knowledge can help you set parameters effectively and make informed decisions when using the trading bots.
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