How To Make Money With Pionex Grid Bots Pionex grid bots are the most cost-efficient trading bots out there with low fees and a lot of grids. I will tell you all you need to know about pionex, their grid bots, and other advanced settings. You will learn how to find the best pairs and settings for your bots. But I will also show you how to start and close a bot, as well as take profits. What is Grid Trading? Automation programs that buy low and sell high in a specific price range.
Pionex Cons
It will place multiple buy and sell orders on the price range creating a grid of orders based on a fixed price (right in the middle of the grids). Allowing you to profit off small price fluctuations and overall market volatility. It’s a great way to avoid emotional trades and make profits, especially in bull and sideways markets.
Pionex is a relatively new exchange that is dependent on the other two underlying exchanges but you will still need to deposit funds there.
Pionex Pros The mobile app is very well put together, fees are low, you can run more grids with less money, and there are a lot of bots, and even earn products. You don’t need to worry about API keys expiring and your bots closing because of it.
It is not an external bot that can be controlled via API keys although it doesn’t suffer from those issues one might argue about its safety but so can they about any other crypto exchange.
What is Pionex?
Pionex is a cryptocurrency exchange with built-in trading bots and other automation products, and aggregating liquidity from Binance and Huobi, two big exchanges.
How To Create Grid Bots on Pionex?
GoingRanks further we can navigate to the Ranks and see coins in a list format sorted by Market Cap, Arbitrage, Top Gainers, Top Losers, and Fluctuation. The most relevant for these types of bots is the fluctuation rank that shows you the most volatile pairs in percentage for the last 7D, 30D, or 180D. Clicking on a pair will open it up on the charts so you can see if the bot matches the requirements I will show you later on. If you hit Create A Bot > Grid Trading Bot > Create. A panel will pop up from below with the AI Strategy Option highlighted.
Grid Bots There are slight variations of grid bots available such as the Moon bots, Leverage Grid, Margin Grid, Reverse Grid, Leveraged Reserve Grid, and Infinity Grids. As stated previously we will focus just on the Core Grid Bots where you can apply the same principles of regular grid bots on any platform which you can check out on the playlist. Pairs The first step would be to look for pairs that might better fit the settings we want and therefore make the bots much more profitable. Whether you are using the mobile app or web version you can access the markets section to take a look at all the pairs available on Pionex.
First, we will try to spot pairs with around a 75% price increase followed by a 20% (75/20). Then see if the current market price is below or above the middle line of your price channel, you can draw a box based on the lowest and highest recent prices.
This option is great if you want to just run a bot right away without too much research but also because you can see a Grid Profit Average for the last 7D, 30D, and Ranking180D. systems on grid bots are always useful to narrow down your research and save a bit of time, although you can always do pair research from CoinMarketCap, Coin Gecko, or Trading View. The market cap can give you an indication of the risk of using a certain pair: Top 100: Low Risk 100-500: Moderate Risk 500-1000: Higher Risk Above 1000: Much Higher Also check the Altrank on LunarCrush to know how popular a coin is based on social media mentions. When to Start After taking a look at some pairs you can narrow your selection down based on the price action of a pair and where the price is at the moment to maximize potential There’sreturns.a video on the channel covering the best time to start grid bots so you might want to check it out!
The first thing you will see is the price range to set it up you can measure 20% upwards from the current price and 30% down. Paste those values on Pionex Manual setting. If you are using the grid bot template is quite easy as you can simply enter the market price on “Bot Settings” Page and the high and low prices will be calculated for you so you can just copy/ paste! Now for the second file which is grids, you will most likely be using 90 up to 140 grids but you can set it up so that the profit/ grid is around 0.5% up to 1%.
The third and last is to see how strong are the support levels, so see if there are at least two red candles near the current price, you can even draw a line if it helps.
I have already made one you can use which is available in the link down in the description. Settings When creating a new grid bot you can insert your own settings by clicking on manual setting.
As long as you are above the Minimum indicated for the settings you set up then it will work. How Much To Invest One of the easiest ways to manage your bot funds is to use allocations. Just percentages to use as a reference
Lastly, the total investment amount is up to you. Pionex does usually require fewer funds to run their bots even with a lot of grids when compared with other bots.
Finding and choosing pairs is all done before even starting a bot so I recommend you write it down or use a sheet.
Trigger prices can be used to automatically start a bot once a specific price is reached. Close Bot Price
Theredrop.isnot really a limit for the bots you may run unless you don’t have the minimum amount required. But if you do have a larger account consider using 3000 USDT per bot. It should give a very good haul.
The close bot price is what you may want to use to automatically close your profitable bot after a certain price is reached. In this strategy, you can put that price around the Upper Limit Value since the bot won’t be executing any more trades after that level. You can set the price a bit higher than the upper limit or use a “Take Profit Delay” if you want to make sure the
so that you know how much to invest without cutting yourself short.
From the total amount, you have on your Pionex Trade Wallet consider using 80% of the funds for bots. The remaining 20% will act as a reserve fund if there is a price
“Close Bot At” on the advanced settings to automatically close your grid bot if you want to.
Advanced Settings Trigger Price
When To Close The Bots With Pionex you can close your profitable bots manually once they go out of range, surpassing the Upper limit you set up previously.
If the bot reaches the close bot price then it will sell all the coins available, so that you will have all your USDT ready to run another one!
Stop Loss Price
Stop loss price is what you can use to set up a stop loss if the price goes below your grids and is no longer trading due to a price decrease.
Slippage Control Option used to avoid losses when creating a new bot due to price changes. I wouldn’t worry too much about it, as your goal is not to make instant profits when starting the bot. You can select 1%, 5%, or No. Grid Mode There are two ways to run the grid strategy within the bot Arithmetic and Aglorytmic.
I don’t usually use this option as I want to wait at least 1 or 2 weeks before closing any bot, as there might be a reversal and I would lose on profits.
And again you use it just based on the price but also set a delay in seconds. With the delay, it will actually wait some seconds after the price level is reached and then close the bot only if the price doesn't recover.
But if you have a different strategy it’s still a very good option to protect you against huge DIPs.
order is executed at that time since your sell order might not be executed right away.
In the Arithmetic mode, the space between grids is the same considering the prices. So the space between the grids is based on price. In Geometric mode the space between grids is based on percentages and the space will be defined by the same Butpercentage.asPionex puts it, Arithmetic is better for bullish markets while the geometric mode is better for bearish markets. Investment Mode You can choose to use quote coin to invest which is the second ticker on a pair and most likely a stablecoin such as USDT. Or can invest both base and quote coins for example USDT and BTC. It might be useful if you have already purchased those coins. Or if you are running a new bot after closing an unprofitable one aka Re-Griding, where you didn’t sell your coins because you want to wait for them to rise in price again. How to Take Profits When it comes to taking profit you can use the “Take Profit” approach with the Close Bot At option or you can close it There’smanually.notaspecific method to do. Ideally, if the bot is profitable and above the Upper limit you might as well close it. It’s important however to manage your total balance after you close bots. And for that, I recommend using 25% of the profits made from a single bot to invest on lower-risk options.
Something great about Pionex is that you can change settings even after a bot is already running and it will recalculate everything accordingly. You can also “Add Investment” to add more funds to the bot, “Release Profit” to take out profit without closing the bot, and even pause it. Earn Passive Income On Bot Profits Remember the 25% I just talked about? You can invest it on other options such as staking, lending, spot futures bots or long-term Grid bots with Top 10 coins, or even DCA bots.