“Even when you are sleeping, the bot continues to make money for you.”
I. What is a Trading Bot?
A trading bot is a “virtual assistant” that helps you automatically buy and sell coins according to existing strategies.
You just need to set a few parameters such as: purchase price, selling price, expected profit margin…
After that, the bot will do it for you 24/7 – no need to sit and monitor charts, not influenced by emotions.
II. Why Do Many People Choose to Use Bots?
• Not affected by emotions such as fear or FOMO (buying on impulse)
• Trades continuously, even when you are busy or sleeping
• Can run multiple strategies simultaneously on different coins
• Works well in sideways markets, where humans are prone to mistakes
III. Popular Bot Types on Binance
1. Grid Bot
• Buy low – sell high within a certain price range
• Most effective when the market is sideways (fluctuating within a price range)
Example: BTC fluctuates between 105,000–110,000
→ The Grid bot divides this price range, continuously buying and selling, accumulating profits from small fluctuations.
2. DCA Bot
• When the price drops, the bot will gradually buy → lower the average purchase price
• When the price increases again, the bot will automatically take profit
→ Suitable for strong coins with recovery trends
3. Futures Bot
• Apply buying and selling strategies in the Futures market (long – short)
• Can earn money quickly, but also carries higher risks
→ Need to understand the market well before using
V. Common Errors When Using Bots
✒️ Remember: The bot does not think for itself – it only executes the commands you give. If set up incorrectly → the bot still runs, it just runs straight into losses.
VI. Bot Suggestions for Beginners
🍀 In summary:
• Understand what a Trading Bot is and how it works
• Know how to create a basic Grid bot on Binance
• Avoid basic mistakes and set up more effectively
• Confidently choose a bot that suits the market you are monitoring
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