Hello my Fellow Crypto Billionaires. For some time I have dreamed of an algorithm or machine trading for me, trading profitably and for some time I have had in mind to try out the Pionex Grid Trading Bot. With the markets on the rise I have some free crypto at my disposal with which I can experiment again. So once again, here we go!
Transfer funds from Binance to Pionex
At some point in time I bought a bit of MBOX, to try it out and see for myself how the market acts on it. Nothing special ha-ha. I’ve waited a bit to see whether it will fly or not, and it didn’t in the few weeks I gave it(I might be sorry for that in the future, as it might still fly). But my interest towards trading bot was much higher than the return on MBOX. So I swapped it out for USDT and headed to transfer the funds to Pionex. I feel that I'm getting the hand on transactions and feel much more confident when entering addresses and choosing networks. So at first you need to head to Pionex and choose what funds you want to deposit with the network you want to use:
Right after that copy-paste wallet address into Binance withdrawal:
As usual Binance will inform me of risks with using BSC(BEP20) network:
Which is followed by confirmation of network address and allocated fees:
And obviously a necessary confirmation from my side, to prove it’s me:
As with my previous transaction I was again warned that the approval might take up to 12 hours:
But in reality a few minutes later I was confirmed both by Binance and Pionex of a successful transaction:
Setting up the Grid Trading Bot
DISCLAIMER: I will not explain how the Bot works, you can find it thoroughly explained by Pionex themselves in their post and I do not take any responsibility if any of you Billionaires should lose a couple of millions on a badly set Bot, experiment and find your own best practices. Believe it or not, but I learn the hard way with mistakes made by me. I put my skin in the game and learn while riding on it. So, at this moment we have funds, now it’s time to set up the bot. Do not ask me why, as I chose that pair pretty randomly. I will set up the bot on the FIL/USDT pair. Do not know why, I just felt like it, suck it up and move on.
There are two options for Grid Trading bot: AI Strategy(provided by Pionex) and Manual.
If you're clever enough you’ll see a third one. I used AI set parameters but tuned them slightly manually:
I tuned it in a way which allowed me to place my full balance at maximum. At this stage I did not configure advanced settings, I will come back to those later on as I want to experiment with the chaos we have. Once everything is set I push create and see what happens. This is the first picture saved after the bot started trading:
I will monitor the bot for some days or maybe a week and see how it acts and then give you a heads up or down, depending on how the test goes.
Lessons learned:
- Lessons are yet to be learned :D
- As always, do your own research!
- Experiment with small amounts of funds, the ones you can afford to lose.
- Do not be afraid of new approaches, try it out. If it doesn’t fit, at least you’ve tried.
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