They are customizable trading systems that help users execute various automated trading strategies. Compared to standard manual trading, trading bots can execute orders with lower risk and at lower cost, and more quickly take advantage of market timing.
Are Phemex Trading Bots free?
Yes Phemex Trading Bots are completely free and available to all users. Your fees remain the same as our standard trading fees based on VIP level.
What is the Bot Marketplace and how do I use it?
The Bot Marketplace is where Phemex traders can share their spot grid trading or contract grid trading bots. With one click, users can copy the bot trading strategies of top performing traders.
What are Futures Grid Trading Bots?
Futures grid trading is a trading strategy that capitalizes on price fluctuations. Phemex offers grid trading bots with three strategy options (Long, Short, Neutral) that users can choose from based on different market conditions.
How can I set my Futures Grid trading bot on Phemex?
There are two ways. Firstly, on the trading bots page, users can browse existing trading bots and copy one that they consider suitable for the current market and their personal trading goals. Secondly, on the contract trading page, users can toggle into the trading bot mode to create their own trading bots. To do so, they’ll need to set grid parameters such as the upper and lower grid limits as well as the number of grids. You can refer to the more detailed Help Center article for more information.
Do Futures Grid Trading Bots guarantee profits?
Grid Trading is usually most profitable when the market remains somewhat calm, fluctuating within a certain price pocket. Keep in mind that in times of high volatility, prices can always exit the range (moving higher than the top or far below the bottom) and inflict losses that might be magnified by the use of leverage in the Futures Grid. Certain tools such as stop-loss orders can help mitigate such risks.
What are Spot Grid Trading Bots?
Grid trading is a strategic tool that automates buying and selling of crypto at preset intervals around a preset price range to construct trading grids.
The fundamental concept involves doubling the investment after each loss with the goal of recovering prior losses and achieving a profit equal to the initial investment. This strategy operates on the assumption that a winning trade will eventually occur after a series of losing trades, effectively covering the accumulated losses and generating a profit.