thetradingparrot
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New Grid bot: BTC/GBP
🕑 Added 2021-02-25 21:37:07 +0000 UTCI'm running a new grid bot on BTC. I'm running it on GBP you can run it against any stable coin: USDT, USDC, etc. I'm not sure if we still have zero fees with GBP but I don't want to sell my GBP to USD now that it went down almost 2% in value...
Details
- Range in USD: 43K to 58K
- Grid levels: 15
Why?
Because we are on a descending triangle, it's not clear whether will break out to 58K or correct to 43K levels.
Best scenario: ideally we keep going sideways for a little bit further and struggle like we did in January before breaking the 40K resistance thanks to Elon, remember? That time we made pretty good profits for almost 3 weeks of ups and down, check the older posts.
Worst scenario: if we broke out aggressively above the top level. As I explained in my grid bots video, in a scenario like that you'd make more money holding and selling at the top vs running a grid bot. Then why do you run a grid bot? because my hypothesis is that we will struggle before breaking the 60K USD level (March!) If you think we won't struggle then don't run this grid bot, you'd be better holding BTC.
Funding
Once you add the levels to the grid settings, count how many levels are displayed as "sell". All those levels will require to sell BTC which you should own specifically for this bot use. So How much BTC will you require to run it? easy: the number of sell levels multiplied by the "quantity per grid" that you select in the bot settings. In the picture below you can see I selected 0.015 per grid level, and there are 10 SELL levels above the current price, so that 0.15BTC I need exclusively for this bot. Then I need some GBP for the buy levels, same calculation but converted into GBP.
If you are using USD, same applies but USD.
BTC grid running from now!
This bot won't appear in the bot dashboard. Only in the bots running discord channel and occasional updates on announcements channel to monitor the progress.
All figures below are in £GBP !!!
Are you running any profitable grid bot pair these days? tell us your winning setup :)
Comments
I see grid bots as channel trading - i have been experimenting with it, but would stick to charts moving sideways only for this
Nop
are you still running this?
Eth has been going down, I guess you would recover overall as you’ve been accumulating eth which is great!
I'm on TRX/ETH and it's not doing too bad. About 1% per day.
NoSoftware and I have been running ADA grid bots with multiple times the profit of the BTC grid bots. We saw that ADA was performing really well against BTC. Had I been smarter I would have gone the DCA route instead of the grid bot ;)
