Getting Started with a Bitsgap GRID Trading Bot
This article will show you how to start a new GRID bot, modify its settings, close bots, and restart them if needed.
How to create a GRID Bot
In this part, you will learn how to create and run your first GRID bot. Please, follow our step-by-step instructions below.
1. Select a bot type
To start a new GRID bot, click the [Start new bot] button located in the top menu of the Bots page.
You will see a pop-up window with all the available bots. Choose [GRID bot].
2. Select an exchange and a trading pair
On the right side of your screen, a menu for creating your first GRID bot will be shown, where you can select the exchange, the pair, the investment and set the advanced settings if you want to customize them to your strategy.
Read more about advanced settings in our article - Customize Advanced Bitsgap Grid Bot Settings.
Let's move to the next step. Start by selecting an exchange and a pair. Click on the “Exchange” window to choose an exchange, then “Pair” to set the trading pair. Once this is done, move to the following step.
Enter the total investment value you would like to operate with or use the slider to specify the percentage based on your available balance.
The Investment field shows:
- an approximate amount of the investment in your selected system currency;
- how much of the base currency is required for your initial sell orders (BTC);
- how much of the quote currency is required for your initial buy orders (USDT).
If you want to speed up the bot setup process, check out the Quick Setup field. It offers preset configuration templates - sets of predefined bot parameters based on the presumptive time you plan to run your bot for:
- Short-term - the best for bots that will work for up to 3 days.
- Mid-term - more suitable for bots operating for up to 7 days.
- Long-term - a great solution for bots that you want to trade with for 25 days +.
Don't hesitate to learn more about the Quick setup options in our article - Launcing your bot with Quick Setup.
The Available for bot use window displays the amount of both currencies (base and quote) available on your balance, already taking into account the deduction of 5%, which is reserved to cover any trading fees charged by the exchange.
Note
The balance of the quote and the base currency will change during the bot's work since both buy and sell orders will be executed. Depending on which way the price goes, the open orders of your bot may have more base or more quote currency than it had initially.
3. Backtest
Backtest allows you to evaluate the bot performance based on historical data of a trading pair for a selected period. This feature may help you understand your bot's settings and optimize them for the selected trading pair.
To backtest your bot settings, click on the [Backtest] button. In the pop-up window, you will see the calculated results of the bot's work (bot profit) with the current settings for the past 30 days (by default), like in the example below.
4. Review and confirm the settings
This is the final step before launching the bot. Here you can review all the selected settings.
Preview settings
- Bot type
- Exchange
- Pair
- The initial investment in the bot
- Profit currency
- The base currency in open sell orders
- The quote currency in open buy orders
- High and Low prices
- GRID bot’s levels
- GRID step between levels
- Order size currency
- Trailing Up On/Off
- Pump Protection On/Off
If changes need to be made, go back by clicking on the arrow. Otherwise, click the [Start Bot] button.
Analyze your bot’s performance
You can always track your bot's results in the detailed "Performance" window. This will help you better understand your bot's performance and results, as well as get more detailed information about each transaction. It can be found on the right-hand side after clicking on a necessary bot:
Here you can see overall and daily bot profit, unrealized PNL, trading time, and the number of completed transactions. It also shows the ratio of the quote and base currency in open orders and their current value.
Bot orders
You can find more information about your completed and open bot trades in the "Bot orders" tab. To access the tab, click [Bot actions] and select the [View details] option.
The “History” tab displays specific details on all the trades your bot has already completed. Here, you will see the following information:
- The time when each order was filled;
- Order side (buy or sell);
- Action (order type);
- Order amount in the base currency;
- Order price;
- Exchange trading fee;
- Profit per each trade;
- Total profit considering the applied trading fees.
Open orders tab
If you want to check the status of your bot open trades, head to "Open orders" in the "Bot orders" tab:
Here you can find the "Open orders" tab with more info about the number of open orders, their time, side, type, price, amount, and status.
Modify bots
Whenever you want to adjust settings on any bot, select the bot you need and press [Bot actions] > [Modify Bot] on the right-hand side.
Tip
Please be advised that Trailing Up/Down, Take Profit, Stop Loss, and Pump Protection can be modified on any active bot.
You can also adjust the number of grid levels. Feel free to find more info on how to do that in our article - Adapt to Market Changes by Modifying the Grid Levels of the Active Bot.
Once all the necessary changes have been made, proceed by clicking the [Continue] button. Double-check your new settings on the bot's preview page, and then press [Confirm].
Close bots
To close a GRID Bot, select the one you need, click on the three dots and choose the [Stop Bot] option.
In the pop-up window, you will see the list of options for closing your bot.
Stop Bot Conditions
- Keep (base currency) and (quote currency). This option will close all your open orders. The current amount of the traded currency will be transferred back to your available balance.
- Convert to (quote currency). By choosing this option, all the bot base currency will be sold at the market price, leaving you the results highlighted in the Total PNL column.
- Convert to (quote currency) - Set limit sell price. Your bot will get canceled, and the system will place a limit order at any price of your choice. This way, you can sell the bot's base currency and take profit at any selected level.
After deciding how you want to close your bot, press the [Confirm] or [Convert by...] button. This will initiate the process of shutting your bot down.
Restart closed bots
To restart a closed bot, go to the [History] tab. Then select the bot that you prefer and click [Bot actions]>[Restart].
Adjust the settings if needed, and proceed to the bot's overview tab. Double-check the chosen parameters and launch the bot by pressing [Start Bot].
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