Huobi Global launches Grid Trading Bot on its mobile app, prompts traders to take advantage of price volatility
LONDON, April 2, 2022 /PRNewswire/ — Huobi Global, one of the world’s leading exchanges, has unveiled a trading bot on its Huobi Global mobile app that will allow investors to take advantage of price volatility in the cryptocurrency market. The trading bot allows users to twhere to place, buy and sell orders at certain regular intervals above and below the price of a particular advantage.
For new traders, “buying high and selling low” is a common profit-making practice. The new grid trading bot allows traders to set a strategy and control their positions to mitigate risk. Once the parameters are set, the system will automatically execute “buy low” and “sell high” within a defined price range. It is therefore possible for users to earn profits even if they are not actively monitoring market prices.
Markets move about 30% of the time, leaving the remaining 70% for range bound market conditions. However, most new retail users prefer to trade in trending conditions. A challenge then arises as to how a range-related strategy can be implemented during times when a market is not trending. Impressive profits can be made by buying low and selling high in a limited market. Additionally, trading stablecoin pairs, such as USDC/USDT and USDC/HUSD, will allow investors to capitalize on even minute fluctuations.
“Traders no longer have to worry about missing the market, as the Grid Bot can think and act like a human and help investors profit even when they are sleeping, as it operates according to predefined rules”, said From Junco-founder of Huobi. “It can also help you avoid ‘shuttle trading’.”
The Huobi grid trading bot has a concise and user-friendly trading interface. After accessing the Trading Bot feature from the mobile app, users will be able to see rankings based on PNL and the number of users following a particular strategy. Novices can simply “copy” other users’ strategies while veterans can click “Customize” to enter the bot’s AI or customize modes. AI mode allows users to set the price range while customization mode allows other parameters to be set.
How the Grid trading bot works
Assuming the current BTC price is 40,000 USDT. User Huobi Sarah activates the trading bot feature and sets a range of 30,000 USDT to 50,000 USDT. She then sets the number of grids to 4 and the width of each grid to 5,000 USDT. If the price falls below 40,000 USDT, the grid robot will automatically buy until the price breaks 30,000 USDT; conversely, if the price exceeds $40,000the grid robot will automatically sell until the price breaks 50,000 USDT.
By automatically executing the “buy low” and “sell high” functions, it ensures that the sell price will always be higher than the buy price each time a trade is executed. This feature helps investors take advantage of sideways trends while mitigating risk in a volatile market.
The grid trading bot is currently only available for spot trading. Futures trading support will be added soon. Stay tuned!
To try the grid trading bot on Huobi Global, click here.
About Huobi Group
Huobi Group, a global blockchain leader, was founded in 2013 to make breakthroughs in core blockchain technology and further integrate blockchain technology with other industries. Huobi Group has extended its products and services to public blockchains, digital asset trading, wallets, mining pools, proprietary investments, project incubation, digital asset research, and more. Huobi Group has established a global digital ecosystem by investing in more than 60 upstream and downstream companies in the blockchain industry.