A depressed sentiment has enveloped the crypto market and the Terra collapse only served to underscore how volatile the crypto trading environment is.
Terms such as “long winter”, “bear market” and “stablecoin crash” are frequently used, while stories about making phenomenal profits appear to be a thing of the past.
Many traders failed to seize their chances during the recent bull market and entered at high positions at the start of a market downturn.
In a market that’s trending sideways, traders who lack professional acumen most often face difficulties with turning a profit.
A little-known fact is, markets trend sideways about 30% of the time, leaving the remaining 70% for range-bound market conditions. While most new retail users prefer to trade during trending conditions, the question arises — how can range-bound strategies be implemented so money can be made during non-trending periods?
There is a simple answer – grid trading, with the help of a bot.
Huobi Global, one of the world’s leading global exchanges, unveiled a trading bot on its Huobi Global mobile app in April this year, enabling investors to automatically “buy low” and “sell high” and thereby amass substantial profits in a range-bound market.
The new grid trading bot enables traders to implement a strategy and control their positions to mitigate risk. Once parameters have been set, the system will automatically execute “buy low” and “sell high” within a set price range. It is therefore possible for users to make profits even if not actively monitoring market prices.
The Huobi grid trading bot has a concise, user-friendly trading interface. After accessing the Trading Bot function from within the mobile app, users will be able to view a ranking list based on PNL and the number of users who follow a particular strategy.
Novices can simply choose the ‘copy’ function to mimic other users’ strategies while veterans can click “Customize” to enter the bot’s AI or customize modes.
The AI mode enables users to set the price range while the customize mode enables more advanced parameters to be set.
User-friendly as it is, there are still numerous users who lack the know-how for implementing a grid strategy or who mistrust grid trading bots. There are still others who have profited greatly from a grid strategy with the bot’s assistance.
Recently, a Huobi user topped the Most Profitable list and became the Huobi Grid Trading Bot’s “TOP 1” user, profiting in excess of 40,000 USD a day. Read on to find out how he managed to achieve such a feat.
Going by the moniker BelarusOK.verse, the user is currently running more than 20 grid strategies, and gained considerable profit from deploying these.
Trading XRP/USDT, NEXO/USDT, and LUNA/USDT pairs at the same time, the user’s highest daily profit from a single strategy stands at 9217.41 USDT.
It’s clear on the trading bot interface that the user has invested about 100,000 USDT in each strategy, with the total amount invested standing at nearly 3 million USDT.
A cursory glance would show that the user easily made a profit of more than 40,000 USDT within a day. The trading page saw several hundred users clone his strategies.
Traders who have experienced the market crash on May 19 might be desperate for a tool to make money, especially during non-active hours. Traders can utilize this grid trading bot to ensure a rational trading strategy devoid of human emotion.
Ultimately both veterans and novices should always be vigilant amid challenging market conditions – consistent learning and overcoming human weaknesses are keys to success.
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