The optimal indicators for each scalper will depend on their specific objectives, trading style, and appetite for risk. Yet, a scalper is notably more energetic and executes a higher number of trades throughout the day. This is because their primary goal is to accumulate small, recurring profits. For scalpers, even the littlest price wiggle is an opportunity to make a buck, so they’re glued to the 1-minute charts, waiting to pounce. Impatience is a virtue for scalpers — they’re outta there as soon as the money starts rolling in.
- The BTD bot means that traders can operate in all markets, high or low, as opposed to merely buying and holding for the long term, a simple strategy that does not generate maximum returns.
- If so, you’ll have several plans to choose from – both free and paid-for.
- Traders can also access open orders, trade history, and analyze investment positions.
- By default, the GRID bot’s orders are fixed in size in the quote currency.
- KuCoin has become one of the most popular platforms for bot trading.
A stop loss is a conditional directive to close an existing order upon reaching a specific price level. As the cryptocurrency’s price grazes the predetermined level, the order seamlessly morphs into a market order, executing at the next available price. The stop loss can be set at any price level, directing the crypto exchange to buy or sell the asset based on the existing position. All trading operations are created and processed using an exchange API key unique to every user. An API key is a safe and reliable way to use a platform because it does not give access to personal data and prevents any funds management (withdrawals & deposits). There’s also an option to change the order size to the base currency.
On your right-hand side, you will see a panel with your bot’s current status and options for how the bot can be closed. Enter the total investment value you would like to operate with or use the slider to specify the percentage based on your available balance. To start a new GRID bot, click the [Start new bot] button located in the top menu of the Bots page. In this part, you will learn how to create and run your first GRID bot. You’ll find the chart type and indicators on top of the charting interface and the drawing instruments on its left-hand side. Binance Futures Demo Mode from Immediate Zenith also allows you to try and test the COMBO bot risk-free.
You can also stay on the free plan, but you will lose some of the additional features. There are several scenarios when a stop order might be just what the doctor ordered, but the good ol’ stop loss is probably the most popular of all. Cryptocurrency day traders often use stop-loss orders to limit their potential losses on a trade. If you are not sure how limit orders work, consider perusing this primer first.
Pretty much every other setting you see in [Manual adjustment] can be tampered with to suit your particular needs — grid step, grid levels, order size currency, hedging mechanisms, and so forth. Although the SAR doesn’t form the core of a trading strategy, it’s a valuable enhancement to graphical arsenal, making trend analysis more captivating and accessible. This simple yet ingenious indicator has two lines that represent threshold values of 20 and 80. When the lines cross and go above 80, it means the price has likely climbed too high too fast and is due for a correction. So traders see this as an opportunity to sell before the price drop.
To ensure the security of your exchange account, API keys without IP access restrictions will not be accepted by the system. To continue using Immediate Zenith with your API keys, updating the API key’s permissions to include a list of trusted IP addresses is necessary. On the flip side, when the lines intersect below 20, it means the price has probably fallen too far too quickly. Savvy traders recognize this as a chance to buy before the price bounces back up again. The Stochastic Oscillator (SO) is a handy tool to determine when an asset’s price trend may be about to switch directions (Pic. 3).
By wielding stop orders, you can expertly safeguard your winnings, trim potential losses, and execute trades in tune with the eternally shifting cryptoverse. Whether you’re looking to lock in gains before they slip away or limit losses if the market turns against you, stop orders are essential for navigating the stormy crypto. NoteThis is required if you want to connect your Binance Futures account. In this article, we will show you how to create, configure, and connect your Binance and Binance Futures API key to the Immediate Zenith platform. The Stop Loss (SL) can be used to limit the losses due to the price decrease, while Take Profit (TP) is the ultimate solution to achieve the profit target and lock in returns.
With Immediate Zenith’s auto-trading platform, users can trade across all exchanges simultaneously. This opens the door to endless trading pairs that can be bought and sold using crypto bots. However, setting up an API for each exchange can be time-consuming. Immediate Zenith offers a range of subscription plans with varying costs to accommodate different trading needs. The starting price for a Immediate Zenith subscription is $23 per month, which provides access to two GRID Bots, 10 DCA Bots, and unlimited smart orders.
If you want to profitably trade BTC on renowned crypto exchanges like Huobi, Kucoin, Binance, and others, all you need is Immediate Zenith’s Bitcoin Trading Bot. This top-notch trading advisor will automatically execute trades for you according to preferences you once set. With scalping, traders dip in and out of positions in the blink of an eye to profit from brief price moves.
He waited for the next chance to catch his crypto surging off support and ride the rise. When his crypto pulled back to retest the trend line, Jimmy bought back in, betting it was a springboard to send prices soaring again. Jimmy wanted to know if his favorite crypto was poised to pop or drop. Connecting higher highs and higher lows indicates an uptrend, demonstrating that buyers have control and that prices are likely to keep rising. Linking lower highs and lower lows signifies a downtrend, suggesting that sellers are in control and prices may continue to fall. Immediate Zenith has lot of good reviews but, i am bit hesitant to join when i saw their monthly fees.
For those new to scalping cryptocurrencies, the best approach is to test out different indicators to find the combination that fits you best. It is a process of experimentation to determine which indicators gel with your Immediate Zenith trading goals and risk limits. A trader with a longer timeframe might still achieve positive results by winning only half, or fewer, of their trades, as long as the wins are significantly larger than the losses.