Futures grid trading bots are now available to use for Phemex contracts. They’re open to all and free to use! Grid trading bots allow you to automate trading strategies to profit reliably from fluctuations in an asset’s market price. Check out the Help Center article What are Crypto Trading Bots for more details about the concept of trading bots.
Currently, Phemex trading bots are enabled for futures grid trading, with spot grid trading features coming soon. Here is how to access and use trading bots on Phemex:
1.First, register or make sure you’re logged into your Phemex account.
2.On the Phemex homepage, hover over Contract and click on Trading Bots. Alternatively, on the trading page you can click on Trading Bots on the top navigation bar or hover over the tools icon on the upper right side and click Trading Bots from the menu that appears.
3.On the trading bots page, you can browse the Bot Marketplace for an existing bot that you believe fulfills your strategic requirements. If you find one you like, click Copy
4.You will be led to the trading interface. On the right-side menu, you’ll see the specific parameters of the trading bot you chose to copy, including highest price, lowest price, and grid quantity. Based on grid configuration, you can preview the selected grid by adjusting the chart display’s time interval. Verify that all the parameters are to your liking, or edit them as needed. When you’re happy with the parameters, input an investment amount then click “Create.” This grid trading bot will activate following the preset parameters.
5.Note that by switching to the “Recommended” tab in Trading Bot Mode, you’ll be able to also view some existing bots to potentially copy
6.If you wish to create your own grid trading bot from scratch, toggle to the “Manual” tab in Trading Bot Mode. Select from three strategy options – neutral, long, or short – based on your interpretation of market conditions. Fill out the specific parameters including Price Range, Grids, and Investment amount in USDT.
7.There are also Advanced Settings available for you to select from arithmetic vs geometric grid, and to specify a trigger price and/or stop price. When you are satisfied with all parameters, click Create and the trading bot will be activated.
8.You can also check the status of trading bots that you’re currently running. To do so, you must be in Trading Bot Mode on the trading page. Then simply scroll down to your activity window to see your active trading bots. Click Details for a more comprehensive summary of any specific bot.
9.On the subsequent page, you’ll be able to see the status of the trading bot including returns, position details, grid orders, and history.
10.To deactivate a trading bot that’s currently active, simply click Stop in the activity window.
Congratulations, you now know how to use the futures grid trading bots feature on Phemex. For more information, feel free to check out the following articles – What are Crypto Trading Bots & How Does Grid Trading Work for Futures Contracts.
Please note that grid trading does come with risks, so make sure you perform adequate research beforehand and conduct strict risk management before trading. Hope you enjoy using grid trading bots on Phemex!
For any inquiries contact us at support@phemex.zendesk.com
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