Helix is releasing Trading Bots, with the first offering now available for select spot markets. Helix Trading Bots now allow users to utilize advanced orders placed by a trading bot to automate the buying and selling of spot markets.
What Is a Spot Grid Trading Bot?
A Spot Grid Trading Bot is an automated trading bot that uses a series of orders to buy and sell an asset within a predefined price range. This trading tool can help traders take advantage of small price movements, especially under volatile markets where prices fluctuate within a given range.
How Does Grid Trading Work?
Once a spot grid trading strategy is triggered, the bot will automatically place buy and sell orders at different price levels within the range you specify. The bot will then continue to monitor the market and execute trades as the price moves within the range you set up.
Benefits of Grid Trading
On Helix, leveraging the spot grid trading will bring you many benefits, including but not limited to:
- Automate your trading strategy in a systematic way without making emotional decisions
- Reduce the need for constant market monitoring
- Profit from small price movements at predefined intervals
How To Use Spot Grid Trading on Helix
To begin using spot grid trading on Helix, you will need to make sure you have funds in your Injective wallet first. Please follow this guide if you are a first-time user. Once funds are deposited onto Injective, please check the step-by-step guide below to set up your own spot grid trading strategy.
Step 1: Head to the spot grid trading feature
Find the new “Trading Bots” feature under “Trade” on the navigation bar, which will take you to the page to set up your spot grid trading strategy.
Go over the short guidance from the pop up window and click “Next” to move forward. In this case, we will take the INJ/USDT spot market as an example. You will see a panel on the right side of the page to set parameters.
Step 2: Define the lower and upper price range
Determine the minimum and maximum price at which the bot should execute trades. The bot will then place buy and sell orders only within this range. In this example, we input 7 USDT as the bottom price, and 8.5 USDT as the top price.
Step 3: Choose the number of grids
Grids stand for the price levels which the trading bot will place the orders on behalf of you. Here you need to decide on the number of grid points or price levels within the pre-defined range where the bot will place orders. The bot will evenly space these grid points within your price limits. The number you enter must be between 3 to 50.
The “Grid Interval” specifies the constant price gaps between grid levels within your set upper and lower price range. The higher the number of grids you set, the lower percentage the grid interval will be.
Step 4: Enter the amount to input in the strategy
Enter the total amount of capital you want to input in INJ and USDT or USDT only, or any other pair supported at the time by spot grid trading. You can choose to input single or dual crypto. If you choose to input USDT, the strategy will only use USDT from your wallet and the trading bot will purchase INJ required on behalf of you. If you input USDT and INJ, the strategy will use both cryptocurrencies from your wallet. The minimum USDT amount required to run this grid strategy is 5 USDT.
Step 5: Advanced settings - stop trigger (optional)
You can use Stop Trigger to stop trading when the market price triggers the set prices:
- Stop Loss: should be lower than the lower price, last price and trigger price. When the latest market price reaches the Stop Loss price, the grid will stop working.
- Take Profit: should be higher than the upper price, last price and trigger price; when the latest market price reaches the Take Profit price, the grid will stop working.
Step 6: Create a strategy
Once you fully understand each of the parameters and complete the setting, click “Create Strategy” to proceed with the gird order confirmation. You can review running details directly at the panel on the left side.
Step 7: End the bot
Click “End Bot” or the button below “Remove Strategy” to stop the grid strategy. Running orders will be canceled and all profits will be settled immediately at market price and transferred back to your wallet.
Frequently Asked Questions
1. What trading pairs are available for spot grid trading on Helix?
Spot grid trading is currently designed to work only with spot markets on Helix. The first trading pair available is INJ/USDT.
2. How are the trading fees calculated?
For spot grid trading on exchange dApps on Injective, the only fee that traders incur is an initial fee for balancing the quote and base funds provided for the trading strategy. This fee is used to place an atomic market order to ensure accurate and effective order placements by the trading bot. Once the strategy is set up and triggered, there is no additional maintenance fee for executing within the set parameters.
3. What are Trade & Earn rewards from spot grid trading?
Trades with spot grid trading are not eligible for Trade & Earn rewards. When using the spot grid trading strategy, it is the smart contract that places orders on behalf of users, and the address prompting the smart contract to execute orders is responsible for paying the fees and receiving the associated rewards.
4. Can I run multiple spot grid trading strategies for one single trading pair?
You can only run one spot grid trading strategy at a time for one single trading pair. If you would like to start a new strategy, you will need to end the current strategy and start a new one. Alternatively, you could run a separate strategy through another Injective wallet address.
Helix is the premier decentralized crypto exchange. Helix provides access to unlimited crypto assets and perpetual markets with market leading rebates. Best-in-class security, near zero fees, lightning fast speeds, cross-chain capabilities and a fully on-chain orderbook on Helix provide the optimal gateway to bring crypto trading to the masses. Helix is built on Injective, the interoperable layer one blockchain for building powerful exchange, DeFi, derivatives & Web3 applications.
Injective is a lightning fast interoperable layer one blockchain optimized for building the premier Web3 finance applications. Injective provides developers with powerful plug-and-play modules for creating unmatched dApps. INJ is the native token that powers Injective and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by prominent investors such as Jump Crypto, Pantera and Mark Cuban.