Reverse GRID Bot is a crypto trading bot from Pionex that claims to increase the number of tokens held by the bot while reducing the cost of holding the bot. It is based on the Reverse Grid principle that is suitable in all kinds of markets.
About Reverse GRID Bot
This robot follows a principle similar to a grid. It buys low and sells high to perform arbitrage within a given price range. While the grid system uses the quote currency to measure the profits of the system, the reverse grid uses the base currency to measure the revenue.
|Free/0.05% maker and taker fee
Reverse GRID Bot features
This bot has advanced settings that you can modify to suit your trading style. You can set the trigger price, as well as the stop loss and take profit levels. The crypto market is highly volatile in nature and sometimes the final price deviates from the price at the time of placing the order. However, you can use the slippage control parameter to keep the deviation within a certain range.
You have two options while building a grid strategy for the robot. Both Arithmetic and Geometric grids are available and you can choose one based on your requirements. When the price of the currency reaches the take profit or stop loss level, the position will automatically be closed by the reverse grid bot. This prompts the system to purchase all ETH at market price using USDT.
How does it work?
When you get the indication of a downtrend, you can initiate a reverse grid using the currency you currently hold. You can sell it at a high price and buy it back much lower. This will bring down the holding cost while shaking arbitrage. In an uptrending market, a reverse grid can be initiated to earn more coins and stand by for the uptrend.
To open a reverse grid, you need to access your Pionex account and select Reverse Grid. There are a number of parameters you need to set here. The first parameter is the upper price, beyond which the bot will stop executing orders. You also need to set a lower price, so that when the price falls lower than this level, the bot stops trading. It is also necessary to enter the number of tokens you plan to invest in the robot.
In case you wish to use a short grid, you can use an S-shaped leveraged token or a Margin Grid. Once you have created the bot, the number of grids and the price range become fixed and you cannot change them.
This bot is connected to the Pionex exchange, which is a centralized exchange based in Singapore. It has been around for 1017 days and has a monthly trading volume of over $5 Billion. Every day, more than 100 million trades are conducted on this platform.
How does Reverse GRID Bot stand out?
Unlike most other automated trading systems, this one lets you take advantage of both uptrending and downtrending markets. Also, you have a lot of freedom when it comes to setting the parameters of the bot, so you have more control over the trading process. Since it is connected to an exchange, you can execute orders hassle-free.
Best for: advanced users with trading experience
Since you need to configure the settings yourself, it is better to have some prior experience with automated systems.
This bot is free, but there is a 0.05% fee for each order.
How safe is Reverse GRID Bot?
Pionex is licensed by MSB and FinCEN. It uses KYC and two-factor authentication for added security. This means, it is nearly impossible for others to log in to your account and access your assets.
Reverse GRID Bot reputation
The parent company, Pionex, was launched in 2019. It is based in Singapore, but the vendor has not revealed the identities of the team members.
Is it a good choice for beginners?
Unlike some other bots, this one requires you to configure the trading parameters by yourself. Beginners with no prior trading experience might find it too complex to use.