What is LOOP Bot?

The LOOP Bot is an automated trading tool designed for grid-based strategies on the spot market. By placing buy and sell orders within a predefined range around a fixed Entry Price, the LOOP Bot enables traders to profit from market fluctuations without needing constant monitoring.

Watch Our Quick Video Guide: Earn in 2 Currencies & Reinvest Profits with the LOOP Crypto Trading Bot by Bitsgap

How does Loop bot work?

The Loop Bot works around a fixed Entry price, which is set when the bot is launched and does not change during the bot's operation.

If the market price is higher than the Entry price after a sale at the “red level,” the bot will place a buy order below the Entry price. The entire volume from the sale is used to place the buy order at the next level.

Example:

Launch the Bot

Pair: BTC/USDT
Start (Entry) price: 50,000 USDT
Investment: 10,000 USDT
High price: 52,500 USDT
Low price: 47,500 USDT
Order distance: 1%
Order count: 10 (5 up, 5 down)
Order size: 1,000 USDT

1. Price Increases - price reaches 50,500 USDT:

The bot sells 0.02 BTC for 1,010 USDT
A new buy order of 1,010 USDT is placed below all existing orders (at 47,000 USDT)

2. Price Decreases - price drops to 49,500 USDT:

The bot buys 0.0202 BTC for 1,000 USDT.
This order fills, closing the gap created by the Sell order at 50,500 USDT.
After that, a new Sell order is placed at the 50,500 USDT level with the same amount (0.0202 BTC).

When Should You Use the LOOP Bot?

Range-Bound Markets: Ideal when prices oscillate within a predictable range.
Volatile Markets: Adjusts dynamically, profiting from both upward and downward price movements.
Diversified Strategies: Works with both base and quote currencies, giving flexibility to exit positions in either currency.
Automated Reinvestment: Reinvests profits automatically into the grid for efficient trading.

Key Features:

Fixed Entry Price: Central point for all grid calculations.
Dynamic Grid Adjustments: Automatically fills gaps created by executed orders.
Trailing Up: Moves the Entry Price upward in trending markets.
Take Profit Options: Exit in base or quote currency, or based on price conditions.
Spot Market Focus: Exclusively for spot trading.

What's Next?

How to Set Up a LOOP Bot?: Step-by-step guide to configuring and launching your LOOP Bot.
Monitoring and Managing Your Bot: Learn how to track and manage your LOOP Bot effectively.

Need Assistance?

If you encounter any issues or have questions, don’t hesitate to contact the Bitsgap Customer Support Team.