Make a Crypto Swing Trading "Grid" Bot with Coygo Bots
In this post we will create a cryptocurrency trading bot with Coygo Bots that uses the well-known Grid Trading quantitative strategy. Grid Trading is typically considered to perform best in volatile and sideways markets when prices fluctuate within a specific range.
What is Coygo Bots?
Coygo Bots is a platform for creating and running crypto trading bots that help automate your crypto day trading. These trading bots can trade on your behalf using a number of different highly-configurable pre-built strategies including triangular arbitrage, swing trading, grid trading & more.
Unlike most other crypto trading bot platforms, Coygo Bots are run on your machine and not in the cloud on Coygo’s servers. This allows Coygo to offer a unique type of security — your exchange account credentials (API keys) are only stored encrypted on your machine. Coygo’s servers never have access to your accounts.
What is grid trading?
Today we’re going to look at the “Spot grid swing trader” strategy within Coygo Bots. The source code for this trading bot strategy is open source and available to be viewed or modified so that you have full insight into what your bot is doing. (If you’re an experienced trader you can even change the code to fit your personal needs!)
Grid trading is a popular trading strategy that has been used in both traditional and crypto markets for many years. Grid trading involves constructing a “grid” of different prices within a specific range which will be used to continuously open buy and sell orders as the prices fluctuates between these prices. This is commonly considered to perform best in volatile but sideways markets when prices are fluctuating within a specific range. You can find many grid bots crypto options but we will creating one with Coygo Bots today.
How to create a crypto grid trading bot with Coygo Bots
Continue reading for our step-by-step guide, or you can follow along with our accompanying guide video.
1. Sign in to Coygo Terminal
The Coygo Bots platform is available within Coygo Terminal, a downloadable desktop application for macOS, Windows and Linux. First you will need to sign in to Coygo Terminal. If you don’t have an account, you can start a free trial today! Learn more on our pricing page.
2. Go to “My Strategies” to select the grid trading strategy
Within Coygo Bots you can use the “My Strategies” page to see a list of every trading bot strategy that you can use. Here you will find “Spot grid swing trader”. You can click the “+ Create Bot” button on this strategy to create a new trading bot!
Selecting the grid trading strategy
3. Configure your trading bot
Now that you’ve created your trading bot you will need to configure it to your specific preferences. It’s up to you to decide which exchange, trade pair, and grid price range to use. Each configuration option has a descriptive label to explain how it will be used by the bot.
Don’t worry — you can run your trading bots in Test Mode to try different configurations without using real money or submitting real orders.
Configuring a trading bot
4. Run your new trading bot!
Now that you’ve created and configured your trading bot it’s time to try running it. You can choose how long you want it to run (or indefinitely if you so choose), and you can enable Test Mode if you want the bot to simulate trades.
Running a trading bot
5. Monitor your trading bot
While your trading bot is running it will keep you informed with real-time data about the bot’s decision making and orders submitted.
One particularly helpful tool is the Activity Log on the left in which you will see a descriptive explanation of what the bot is doing and any decisions it’s making during each interval of execution. The Activity Log will default to showing the latest data but you can always go back in time and view previous intervals to get an understanding of exactly what your trading bot is doing over time.
6. Stop your trading bot
When you started to run your trading bot you chose a maximum run time, perhaps 4 or 8 hours. When this amount of time has completed the bot will stop itself. You can also click the “Stop This Bot” button at any time while the bot is running to immediately stop it as well.
Try Coygo for free today
If you’re interested in Coygo Bots you can start a free trial today. We would love to hear your feedback! We want to make sure we’re providing the best possible solution for you.
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