Welcome to this post, where we are going to see how you can create your trading bot on gate.io and the different alternatives.
Gate.io, like other exchanges such as binance and kucoin, has the option to create your own trading bot, or quantitative trading. Where indicating some metrics and configuring some aspects, you can have a bot that operates for you and generates profit, although with the risk that this implies.
In this case, let’s see where the gate.io bot is and how to configure it. To do this, the first thing we need to do is to log in and have funds in our account. If you don’t have an account with gate.io, in the description you will find a link to create one. You will also find a video of how to fund gate.io from my channel.
How to Configure it
With our account created and funded, we must go to quantitative. Strategies repostery. Here we find several options, although the most frequent and common is the trading grid bot and futures grids.
These two bots, which are the most used, are very similar. The main difference is that the futures grid operates in futures, which allows a higher leverage, and therefore, a higher possible profit, but also more risk. On the other hand, in grid trading, it operates in the spot account and does not use leverage.
The other options are not as relevant or used, and if you are interested we will see them in another video.
A very interesting part is that we can see data about how many people use these bots and the strategies that are currently in place, the total investment in these bots and the profit generated in 7 days.
Before clicking on create strategy, we are going to see a very interesting aspect, such as the leaderboard. Where we find the ranking of the best bots with lots of information. We can see the ranking of the most profitable, and if they are operational or not. What pair they are using for their trading bot, the time the bot has been running and the profit obtained so far. If we click on details, we will see more information, with a graph of the annual return of that bot. If we go to trades, we see the operations that the bot has performed. As you can see, there is a lot of very valuable information from other bots that have great returns.
The best part is that we can copy the bot, click on copy of the one we find most interesting, indicate the amount we want to use for this bot and the options we want the bot to have and click on create. With this, you will already have a copied bot that is being profitable.
Now, keep in mind that the bot has been profitable so far, it does not mean that it will continue to be profitable and maintain the same % of profit.
If you want to customize and create your bot from scratch, go to strategy repostery and click on create strategy. Here the first thing to do is to select the cryptocurrency where you want the bot to operate. You can use Smart grid, which is based on artificial intelligence, or if you want to configure it manually, click on grid manually. Here you should indicate the lowest and highest price where you think the cryptocurrency will move. The number of orders you want to execute, and the amount you want to use for the bot. Finally, in the manual and artificial intelligence settings, you will find optional boxes, such as a stop loss or a price where the bot will stop trading if it reaches that value. As well as indicating a take profit and stop loss price. Finally, you can decide if once the bot finishes, it will sell the cryptocurrency or keep it in your portfolio in hodl mode.
Now just click on create and you will have your gate.io trading bot up and running. Keep in mind the risk of using trading bots and more if you use the futures with leverage.
I hope this post has helped you to know how the gate.io trading bots work better and that you can take advantage of them. If you do not have an account with gate.io, you can create your account below.