What is up with me?
In crypto since 2021. Non-stop bot trading on Binance and Pionex for 4 years. I use a DCA bot before these two exchanges and was sharing my profits and so I stop using it. I got in very late last cycle. I spend less than I earn from crypto.
Introduction
NFA. Nothing is guaranteed. Go ahead to read the manuals and YouTube. but need understand how it works, test on spot and small amount, then on low leverage. You can lose all your money with bots.
Exchanges of your choices that have bots included with them: Bitget, Binance, Pionex, OKX.
Although I only talk about PIt is largely similar. So if Pionex does not work for you, try other exchanges.
Bots connect to exchanges:
3commas, profittrader (https://profittrailer.com/)
Demostration
(To be completed)
Pionex Referral
https://www.pionex.com/en/signUp?r=m09RBU8z
If you want Pionex, you may choose to use my referral. It is all up to you.
Also for 3commas trading bot, it connects to an exchange and requires a yearly subscription fee.
There are many contenders out there. But I have settled in Pionex.
You can visit Satoshi Stacker and Satoshi Stacker Extra on YouTube, he use Pionex Bots trading in terms of millions of USDT.
Pionex do have 0.05% fee on your trade. Like any other exchanges. When you bot connects to an exchange it charges you for every transaction too. I use Pionex can run many bots at a time and good enough for my purposes.
Pionex is free. However, some people do complain Pionex KYC. If you got stuck on KYC, their service email is service@pionex.com. their responses are pretty quick.
People from UK have trouble using Pionex.
I am from Hong Kong and I am fine and can use everything offered by Pionex. For Binance, I cannot use copy trading and leverage trading bots, spot trading, P2P (swap fiat into crypto), spot trading bots are usable.
I think the OKX bot may be better, another channel on Telegram shown me, he says it is OKX, I have not tried though.
I can also post someone’s crazy result with 20x 30x from a telegram channel with that OKX DCA bot, if I am not mistaken.
Bots Availibility according to AI
Future DCA bot: Bybit, Binance, Pionex, OKX, Crypto.com, Bitsgap (Trading terminal linking to exchanges), Bitget, GoodCrypto (Trading terminal/app)
Future grid bot: Bybit, Binance, Pionex, OKX and KuCoin are notable for their strong futures grid bot offerings directly on their exchanges.
Pionex, OKX do almost the same thing with bot. Tools are for enhancement, strategy is the deal.
Tried 3commas it is also good but harder to use and need a yearly/monthly fee.
Pionex Grid bot
The Grid bot can somehow fix your trade if the settings done right. It buy and sell at small intervals. So it lowered your average entry price over a period of time.
The Grid bot is a bit better and earn a bit less or need it to grind over a time period,
but compared to straight up longs if you screw up, it just sit there and does nothing to fix the situation.
Straight up LONGs earns more than bots, if the price shoots up without turning back.
The LONG Grid bot is good for market shooting up or slowly up. If the price keep going down, I can be toasted, and need to wait for the price to go up. If price is consolidating, it is also good.
The price needs to sit inside the grid bot range, so set a wider range for it to work in. You earn more when the range is narrow, but usually it is not worth it.
Trailing move up: the grid bot can move upward when the price moves up. Personally for me, I don’t like it because I cannot readjust range and leverage with trailing move up. I will just readjust the upper lower range on the Grid Bot when it is running.
Trigger Price: Set a few bot starting at lower price at support levels is good practice. If there is a wick to trigger price, the bot will start.
What I do is swing trading with grid bots in mid term and long term. DCAed it in lower prices, and downsized at higher prices.
I usually swing trade all of them with cash around. also created grid bots “usually at macro support or resistance”
It is even better to HODL it with grid bots. piles of cash sitting outside of bots for buying at lower price when PnL in RED, and TP when it is green. Keep my trades open and wait for price to fall down while the investment is small. investment is big on the way up.
Grid Bot Marco Strategy Manual Dip Buyer
No don’t start grid bot at random price level. It is amature trading behavior.
For Grid bot, start with small actual investment and low leverages like 3x when there is no dip. The stronger the dip, the higher the leverages and actual investment.
No apparent drop=3x.
below 100k = >9x
below 90k = >10x
below 80k = >11x
When it is certain that this is the bottom price, I will use at least 10x.
Yea. I am begging the bottom, I don’t get it. So I brute force it to search the bottom, if it is lower I just buy.
Pionex DCA bot
The DCA bot is my best gainer though. Unlike Grid bot, the DCA bot you can start at any price point given that you have safe settings.
The LONG DCA bot just buy for me whenever it is lower. and up a bit just sell. Need to place enough Safety Orders though or I am toasted.
Essentially, they are not just straight up longs, they all are scalping profits.
DCA bots will earn less if the market is trending up. It makes profit when price is lowered and take profit when the price a little bit up and higher than your average buying price.
It can hurt a lot if bots are not done properly. Using wrong bots can also be a disaster too. The parameters shown should be adjusted for each coin and situation. For SUI, I set the TP very high such that I can TP manually. For WIF, I compound my profits into my bot by recreating it. I mostly profit from MYX >WIF > JASMY >ETH.
What constitute safe settings for DCA bots?
Safe settings go a long way.
SO: Reserve two to three Safety Orders (SO) that you think it will not get to here when dumping. If you do your TA on 4h chart, and think Price will fall to that support and take 10 SO, you add 3, so you set SO to 13 or more. It can get scary ugly burning when your bot run out of safety orders. It may surprise you, the dump can still get to your last buy. You need to make sure you have enough safety orders (SO) usually at least 12 to MAX. If you don’t understand anything use 14 or MAX.
SL: Setting SL is controversial on this DCA bot. It simply buys on the way down.
By the way, Satoshi Stacker appears don’t have SL on his grid bots. 10x long and started very low since the bull run. He just let it run and let it sitting in the RED and even DEEP RED.
But he add extra margin all the time, and when there is a lot of profits in the bot, he remove some or all margins.
He has pile of cash sitting aside. Rich guy.
Add position %: at least 0.768%. Safer if 1.111%. Smaller value trade with narrow range and easier to run out of SO. Use the Preview button at the Create Bot page to learn where the lowest price and the ranges it can trade.
Volume scale %: at least 1.5. 1.6 is standard for me. Anything less than that usually does not ends well.
Take Profit %: 0.5% if scalping. If you want to have higher profit, you can set it to 999% and click manual reset button on Placed Page of the DCA bot.
Field Test
Please start with spot version of this bot before doing any leverage and use recommended settings. I played with the spot DCA bot on Binance for two years before I use any leverage bot.
Still have to know the support levels of a coin very well to figure out maximum drawdown.
Exchange Tournaments
I ignore all the tournament and events on Pionex and make my own money.
That tournament in that video is grid bot only.
I don’t know why Pionex love grid bots that much. No event nor prize money goes DCA bots.
I dump my DCA bot profits into Future Grid bots, Spot Grid bots and buy the dips with Grid bots.
No capital go to waste to make gains while make it safe. Some of the spot bots up $30 only on a $6000 bot with 10 days, which is acting like a stable coin.
I want to use ALL of them, they are complimentary. I do not want anything to disturb my strategy.
Living with the DEEP RED
- You have to wait it out. Review your bot parameters and decide on how to improve your strategy.
- Manual Reset Button: For DCA bot, it is also possible to TP or Take Loss on a trade if you think the price will not go higher than the bot thinks. Go to the Details > Placed Page > Reset button to do that.
- Pray!