KuCoin Spot Grid Bot

[RaraAvis]

Hi all.

I am new (couple of month). Doing my research. Watched a video about Kucoin trading bots and decided to give a Spot Grid bot a go.
It is running since 2pm yesterday and constantly going into negative figures.
The way I set it up is following: chose custom them pasted AI parameters into it and only changed number of orders to 60.
Trading pair SOL/USDT. Since yesterday afternoon me and my bot lost over £5

I forgot to set a stop loss feature for this bot And now I am thinking should I terminate this bot or should I wait when market will pick up and the bot supposedly will go into positive figures?
I assume that I experience losses with this bot because market started to dip right after I created the bot yesterday.

What is your take on this? Could you help me to understand where all of this is going??

Many thanks in advance!

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[JeromeTash]

Hate to break it to you, but a using a bot does not mean that you are going to make automatic profits. Those grid bots work well in specific ranges of markets, especially the sideways markets. When the price gets out of range, that is when things get ugly

You need to first identify a favorable trading pay and then a good entry and exit strategy. A bot should just be able to automate your strategy when you are way from the screen or exchange not look for profits for you.

[tsaroz]

Grid bots are better to start when the coin is at low price. Still grid bot makes profit at any price range within the limit. If he bot is still within the range, I like to keep it running. Your total valuation maybe in negative but the bot keeps earning for every small rise and fall within the price range and when the price of SOL increases you'd have your profit on green. When you bot runs enough even at lower ranges for a long time, it can make a profit larger than what you have lost due to fall in price.

[RaraAvis]

Thank you for your answers. I was like ignored by everyone with my problem(I understand it is quite a common place for newbies) including Kucoin who took longer than 24h to get back to me with a bunch of questions to understand my problem. My bot wasn't running for a few hours already. They should have waited a week I told them and asked me then  

[o48o]

-cut-
 And now I am thinking should I terminate this bot or should I wait when market will pick up and the bot supposedly will go into positive figures?
-cut-

Bot trading isn't profitable unless market conditions stay exactly the same for a long time (that however doesn't happen). But if it did, then automation for some time span makes sense, but all it takes is one radical change and you start losing way more then you were making.

I am not sure who convinced you that bots would guarantee to make you money, because they don't. Not even experienced traders can guarantee you profits by trading. Only profits you can count on is if you trust the CEX "staking" coins with time locks keeping your money safe. But that has risks as well, as everything in here. Those altcoins could even lose more usd value then you gain them by staking. Nothing in this crypto space is "supposed" to give you profit.

[EarnOnVictor]

Sorry, this is coming late. I viewed what happened on Friday when you made this post and I could see that you would have eventually earned from this trade if you didn't panic to have closed the trade impatiently as the market rebounded later and ended in a positive close on that day. Also on my findings, I think that the Grid bot was right with its sell decision on that day, that is what I would do as well judging by what I saw on the daily chart.

However, what a human being would do better if well-informed about trading is to protect the account better, and I hope that this Grid bot of a thing has such a good feature to protect your trading account. I've seen Exchanges introducing it as a copycat system as usual but I've never used it and I can't because the bot can't be different from what I've been seeing in about 18 years, they are only repacking them. My advice to you is to continue to use it but at a low risk. That's the only way you can know its true efficiency.

[crwth]

Grid bot is more on the active side in bots, you need to determine the range, grid levels, etc. You need to set it up depending on the market volatility. You need to decide how you are going to handle Bullish or Bearish trends. I don't think it can be a long-term or a set-and-forget type. You need a different strategy or a more robust bot like Gunbot

[btc78]

I am sure that this experience has taught you a lesson already it is quite disappointing to learn this way but at least you got it out of the way already it is important to note that bots do not manipulate the market or something of that sort they just help to make traders’ lives easier you would still need to set it up accordingly but it does not mean it is not gonna cost you some losses

Bots are not a sure thing to get you some profit it is still up to you to learn about the market and set your bot to move accordingly

[Volimack]

It's sad but you realize your mistake which will help you learn something new I think bots can't always work properly. They may be limited to one place it is difficult to get the updated information of the market then there is a loss. Self analysis is more effective than bots, it will be easy to know about the ups and downs of the market. Even if the market goes down, you will understand that there will be less disappointment here.

[Tipstar]

Grid bots are a good way to get profit on sideways market. As the overall tendency of crypto market is bullish, it doesn't hurt to have a grid bot running as even if the price goes below your prediction, you'd have a hold of the coin of your choice at cheap price. And when it comes back on the range, you start making a profit.
The only thing you miss out is when there's a bull, even though the upper range of your grid is at x2 of your cost price, the profit you make when the coin reaches x2 is much less than if you have just held and sold it.

[husencoe]

I think you should stop to trade with bot. Than you watching videos about trading bots, should you learn about how to understand price movement on trading or what analyze method on trading that good for you. Trading with bot can't help you for grow up and their is not always guarantee the profit. I suggest you to try a demo account than you can learn with no loss at all. Learn a trading need a consistenses for a while until you can get your own style and caracteristic. What your watching on videos most of them is never work on real live. You must train by your self to prove it work.

[GreenStox]

I think there are a lot of bots there, and your bots compete to be the best and try as much as possible to get a profit. I think your bot is losing to better bots, or indeed because market conditions are down so that also has an impact on your trading using bots.

[Belarge]

I think there are a lot of bots there, and your bots compete to be the best and try as much as possible to get a profit. I think your bot is losing to better bots, or indeed because market conditions are down so that also has an impact on your trading using bots.

It's not an easy job to do a bot in the system, we know how complicated it can become but we just have to stick of becoming hopeful for good results. Kucoin Spot Bot is efficient and reliable, we watch how these crypto bots have become numerous and vast in quantity. Trading bots can become dependent based on the crypto investor or trader. Mainly, trading bots was brought into existence for those categories of traders that were busy and couldn’t use enough time for trading activities.

[RaraAvis]

Hello everyone who answered my in my thread. Thank you thank you thank you - indeed I am learning.
I am already trading myself with couple of cryptos that I keep my eye on. I do understand how it works.
I just wanted to try out this bot, but unfortunately markets went down altogether right after I launched it. USDT, SOL - everything... I guess the poor thing did what it could.
I will get more experience and probably try it again one day with Cosmos or Celestia if I will see them performing steadily well...

[nelson4lov]

I haven't tried the Kucoin grid bot but I have tried the one on Binance.  It was no good and I had to shut it down. I came to the conclusion that if you really want to make profit with these tools, one has to do extensive experimentation with them to see how they work behind the scenes and how they can br used to give you an edge in the market? Although I still believe that the best way would be to do the actual analysis yourself and take the trade by yourself too.

Btw, the Binance bot I used was for XAI and AI. It ended in a loss so I had to shut it down.

[muncuss]

Hello everyone who answered my in my thread. Thank you thank you thank you - indeed I am learning.
I am already trading myself with couple of cryptos that I keep my eye on. I do understand how it works.
I just wanted to try out this bot, but unfortunately markets went down altogether right after I launched it. USDT, SOL - everything... I guess the poor thing did what it could.
I will get more experience and probably try it again one day with Cosmos or Celestia if I will see them performing steadily well...

At least you learn something. But no matter the coin you need to create it when the price is low and start to go up. Theres trend bot btw you need to try it, better than grid bot i think

[john1010]

Hi all.

I am new (couple of month). Doing my research. Watched a video about Kucoin trading bots and decided to give a Spot Grid bot a go.
It is running since 2pm yesterday and constantly going into negative figures.
The way I set it up is following: chose custom them pasted AI parameters into it and only changed number of orders to 60.
Trading pair SOL/USDT. Since yesterday afternoon me and my bot lost over £5

I forgot to set a stop loss feature for this bot And now I am thinking should I terminate this bot or should I wait when market will pick up and the bot supposedly will go into positive figures?
I assume that I experience losses with this bot because market started to dip right after I created the bot yesterday.

What is your take on this? Could you help me to understand where all of this is going??

Many thanks in advance!

So, your Spot Grid bot is going a bit wonky, Don't stress, happens to everyone.

Quick tips:

Market Mood: Crypto markets are moody. They dip, rise, do a little cha-cha. It's the norm.
Bot Settings: Check those bot settings. Make sure they match your vibe.
Oops, No Stop Loss: Forgot the stop loss? It's like leaving your umbrella at home on a rainy day – we've all been there.
Now, the big question: Wait it out or hit the stop button? Peek at the market vibes for SOL/USDT. If it feels like a comeback is in the cards, maybe hang in there. Patience pays off.

If the uncertainty bugs you, chat up some experienced traders.

Chin up, mate! Brighter crypto days are around the corner. 🚀

[RaraAvis]

So, your Spot Grid bot is going a bit wonky, Don't stress, happens to everyone.

Quick tips:

Market Mood: Crypto markets are moody. They dip, rise, do a little cha-cha. It's the norm.
Bot Settings: Check those bot settings. Make sure they match your vibe.
Oops, No Stop Loss: Forgot the stop loss? It's like leaving your umbrella at home on a rainy day – we've all been there.
Now, the big question: Wait it out or hit the stop button? Peek at the market vibes for SOL/USDT. If it feels like a comeback is in the cards, maybe hang in there. Patience pays off.

If the uncertainty bugs you, chat up some experienced traders.

Chin up, mate! Brighter crypto days are around the corner. 🚀

[/quote]

Yeah, I had to go and edit parameters to add that stop loss feature, and the bot stopped running almost straight after I did it.