How To Automate Cryptocurrency Trading With Jet-bot: A Review

You have the option of setting up a demo account, or trade with your Binance spot/ futures account. If you are a beginner, it is recommended that you availed the demo mode to familiarize yourself with the bot settings and practise trading in a risk-free environment.

1. Strategy & pair

– Choose “Long” if you are bullish on the asset.

– Choose “Short” if you are bearish on the asset.

If you are unsure of the projected direction of the asset or if the market is trending sideways, you may set up both a short and long bot to profit from price fluctuations in both directions. (Disclaimer: Minor price fluctuations will be well tolerated; however a major unfavourable trend may result in liquidation and loss of capital, depending on the settings of the bot.)

2. Start order amount: The initial margin for the order (minimum 10USDT)

3. Leverage: 2x-20x (up to 125x on request)

Lower leverage = lower risks. Higher leverage — higher risks.

4. Take profit: How much profit your bot should make from each deal.
Profit amount will be calculated based on your order amount.

While a higher take profit may be beneficial in a bull market, a lower take profit might be more useful in the regular day-to-day sideways market so that the bot will open deals more frequently, instead of waiting for that high take profit order which may take days/ weeks to achieve. A reasonable range is 0.5–3%.

5. Trailing Take profit:
If enabled, after reaching a take profit target, your bot will continue to keep your deal open and wait for a further price growth to close a deal with a higher profit.

6. Trailing deviation: The price drop percentage after which your bot should execute take profit order; for example, 0.1%.

7. Safety order amount: Safety orders average your position if price goes in the opposite direction against your position, bringing your take profit target closer to current price. Can be set same or higher than the start order amount.

8. Safety order quantity: The maximal number of safety orders your bot potentially could use for 1 deal. Safety orders help to average your position entry price and to bring closer your take profit target.

9. Price deviation: The percentage step between safety orders.
If you set 1% deviation it…