Huobi Global, one of the world’s leading global exchanges, has introduced a trading bot on its Huobi Global mobile app that will allow investors to capitalize on price volatility in the cryptocurrency market.
The trading bot allows users to place buy and sell orders at certain regular intervals above and below the price of a particular asset, thus consistent profits can be achieved.
For new traders, “buy high and sell low” is a common practice to make a profit. The new grid trading robot allows traders to set a strategy and monitor their positions to mitigate risk.
Once the parameters have been set, the system will automatically execute “buy low” and “sell high” within a set price range. Therefore, users will be able to make a profit even if they do not actively monitor market prices.
Markets are trending about 30% of the time, leaving the remaining 70% for range-bound market conditions. However, most new retail users prefer to trade during trending conditions.
A challenge then arises around how a range-bound strategy can be implemented during times when a market is not trending.
Impressive profits can be made when buying low and selling high in a range-bound market. Additionally, trading stablecoin pairs such as USDC/USDT and USDC/HUSD will allow investors to capitalize on even minor fluctuations.
“Traders no longer have to worry about missing out on the market as Grid Bot can think and act like a human and help investors make profits even while they are asleep because it runs according to pre-set rules,” said Du Jun, co-founder from Huobi. “It can also help you avoid ‘roaming’.”
Huobi grid trading bot has a concise and user-friendly trading interface. After accessing the Trading Bot feature from the mobile app, users will be able to see NLP-based rankings and the number of users following a particular strategy.
Newbies can simply ‘copy’ the top-ranked strategies, while veterans can click “Customize” to enter the bot’s AI or customize modes.
AI mode allows users to set the price range, while custom mode allows users to set other parameters.
How the grid trading bot works
Assuming the current price of BTC is 40,000 USDT. Huobi user Sarah enables the trading bot feature and sets a range of 30,000 USDT – 50,000 USDT.
Then set the number of grids to 4 and the width of each grid to 5,000 USDT. If the price falls below 40,000 USDT, the network bot will automatically buy until the price exceeds 30,000 USDT; on the contrary, if the price rises above 40,000 USD, the network bot will automatically sell until the price exceeds 50,000 USDT.
By automatically executing the ‘buy low’ and ‘sell high’ functions, it ensures that the ask price will always be higher than the bid price every time a trade is executed.
This feature helps investors profit from sideways trends while mitigating risk in a volatile market.
Currently, the grid trading robot is only available for spot trading. Support for futures trading will be added soon. Stay tuned!
To try the grid trading robot on Huobi Global, click here.
About Huobi Group
Huobi Group, a world leading blockchain company, was founded in 2013 to advance core blockchain technology and promote the integration of blockchain technology with other industries.
Huobi Group has expanded its products and services to public blockchains, digital asset trading, wallets, mining pools, proprietary investments, project incubation, digital asset research, and more.
Huobi Group has established a global digital ecosystem by investing in more than 60 upstream and downstream companies in the blockchain industry.
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