What Is Futures Grid Bots?
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.
How to use Futures Grid Bots?
Here's how to access and use Futures Martingale Trading bots on Phemex:
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First, register or make sure you’re logged into your Phemex account.
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On the Phemex homepage, hover over Futures 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.
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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
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Click the "Details" button and on the right-side menu you can review the trading bot's parameters that you've chosen to copy, including highest price, lowest price, and grid quantity. Enter an investment amount and click 'Create' to activate the Martingale trading bot with the preset parameters.
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To design your own trading bot, click the Futures Grid button on the bot trading hompage and switch 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.
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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.
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Monitor the status of your active trading bots by scrolling down to the activity window. Click 'Details' for an in-depth report on any specific bot.
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The following page will display the trading bot's status, including returns, position details, orders, and history. To deactivate an active trading bot, 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!
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