DUBAI, United Arab Emirates, May 14, 2023 / AlexaBlockchain/ – OKX, one of the world’s largest cryptocurrency exchanges and a leading Web3 technology company, has announced the addition of a new feature to its Spot Grid Trading Bot. The new feature is called ‘Trailing’ and addresses the limitations of the Spot Grid Trading Bot in capturing the potential of rising or falling markets.
The Spot Grid Trading Bot is a tool that allows traders to set a manual price range or use a back-tested AI strategy to execute automated buys and sells.
The bot works well in a sideways market, buying low and selling high within a selected range. However, when the price exceeds the upper or lower limit of the grid, the bot stops trading and becomes idle until the price returns to the trading range.
The new Trailing feature allows the bot to automatically follow the price and move or extend the grid upwards/downwards to continue working with a new range.
The Trailing Up option moves the entire grid up when the price crosses the upper price limit, while the Trailing Down option extends the entire grid downwards when the price falls below the lower price limit.
With the Trailing feature, traders can capture the potential of a market beyond the previously selected range. The new feature enables traders to automatically adjust the grid range to capture gains while minimizing risks. As a result, it reduces the risks associated with missing out on potential gains due to a rapidly rising or falling market.
The Trailing setting can be customized to fit each user’s trading strategy, allowing them to set a price limit. Additionally, the Spot Grid bot automates the buying and selling process, saving traders time and effort.
“We’re thrilled to introduce the Trailing feature to our Spot Grid Trading Bot,” said a spokesperson for OKX. “We believe that this new feature will help traders capture more gains while minimizing risks. At OKX, we are committed to providing our users with innovative tools to help them succeed in the world of cryptocurrency trading.”
The Trailing feature is available to all OKX users starting from May 14, 2023. Traders can access the new feature by logging into their OKX account and selecting the Spot Grid Trading Bot.
For further information, please contact: Media@okx.com
Source: OKX
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