One of the common situations in the market is a sideways trend, which refers to when asset prices fluctuate within a tight range for an extended period of time without trending one way or the other.
The Flat bot strategy can be effectively utilized if you expect the price to swing within that horizontal range. On the sideways market, the Flat bot has statistically proven to be more successful than other bots bot due to its investment distribution logic.
How to create a Flat bot
1) To start a new Flat bot, you will have to click the [Start new bot] button on the top menu tab of the Bots page.
2) You will see a pop-up window showing all the available bots that can be started. Select the Grid Bot option -> Flat Bot.
When the type of bot has been chosen, the next step is to choose the settings of the future bot.
3) Select one of the connected exchanges where you want to launch a bot.
4) Choose a pair
5) Insert the amount you want to invest or use the slider to specify the percentage.
6) Select how fast you want your bot to execute orders. There are 3 options:
The slow mode will place fewer grids with the grid step of 3%. The bot will execute orders less often, but profits will be bigger.
The average mode will place grids with the 1% grid step.
The fast mode places a lot of grids with the 0.3% grid step. The bot will execute a lot of orders per day, but profits will be smaller.
📑 Note: Levels and grid step cannot be modified.
7) Add Take Profit or Stop Bot if necessary.
8) Under the [Add protection] button, you will see 4 additional figures that help you to understand how many coins you need and what for.
“In sell orders” indicates how many coins are needed in the base currency to start a bot with the selected settings.
“In buy orders” shows how many coins are needed in the quote currency to place buy orders.
“Remaining balance” #1 represents the amount of the base currency that will be left on your available balance once you launch the bot. For more detailed information, please navigate your mouse cursor to the “?” icon.
“Remaining balance” #2 shows the amount of the quote currency that will be left on the available balance
9) Before moving to the next step, press the [Preview bot] button. It will bring you to the Preview tab, where you can check all your settings once again before launching the bot. If everything is alright, click [Confirm].
10) The system will initiate the launching process. You will be able to see the whole process. If some issue will not allow you to launch the bot, the system will show you an error. Otherwise, the bot will be created successfully.
Take Profit and Stop Bot
Take Profit is an order designed to manage your risks where the system stops the bot and sells all the base currency used in open orders when the specified Take Profit condition is met.
Once “Current Funds” (in the quote currency) of the active bot reaches a specified profit percentage that you set in a Take Profit parameter, the bot stops trading by selling all of the base currency used in open orders.
Stop Bot is the opposite feature of Take Profit. You will have to specify the price that will become a trigger for the bot. Once reached, the bot will cancel all the orders, and then sell all the base currency in open orders at the market price.
When to use the Flat bot
As mentioned before, the Flat bot strategy is the ultimate solution that will minimize the loss if the market falls, and will generate returns on a rising and sideways trend.
The frequency of trades execution of the Flat bot is overwhelming and wouldn’t be possible in manual trading unless you are sitting in front of the computer all day long.