thetradingparrot
patreon
New Solana grid using Pionex
🕑 Added 2021-09-17 00:38:25 +0000 UTCI’m staring a new grid bot using Pionex.
if you don’t have an account on pionex you can still run it but make sure the platform you are going to use offers you take profit. 3commas currently doesn’t offer it. You can use my referral link below to open an account:
https://www.pionex.com/en-US/sign/ref/SqzjwQy4
The most important parameters in a grid are the limits.
I’m personally going to run it using moderate risk limits: from right below the support we’ve seen of 150 to right below the ATH around 200. The TP will stop the bot at 205.
I think there’s still room for some downside but not much left.
Investors have shocked me with how much they are willing to hold onto solanas potential even though they went through some tough criticism due to scalability hiccups and not being as decentralised as they’ve been claiming they are just because they coordinated a network restart.
Fibonacci levels were indicating that a pull back was potentially going to take us to 100 dollars (golden pocket), but we are still here at 150 hanging and showing the level of demand this asset still has.
Conservative traders could consider dropping the lower limit to even 100 for a worst case scenario.
Be prepared for Bitcoin to make a strong move and create some big waves of volatility. In the long run this grid has a good chance of performing well IMO.
As an alternative to SOL, if you are not so eager to the potential big volatility that this token is expected to have, then you can start an equivalent grid bot using ETH/USDT pair targeting 8K as the top limit and the previous level of support of 3K as the lower limit.
I’m using as many levels as my budget can afford.
On Friday there’s some options expiring so I’m also expecting this to cause some extra turbulence in the market so maybe wait a bit for that.
I already started it.
And remember never ever use more than 1% of your funds on any deal. Any deal can go terribly wrong. always assume SEC might order tomorrow to delist your token. If you use a small amount you still have 99% left to save the day!
Comments
just about to start a SOL & ETH grid :D
Great information I’ve started a SOL grid as well 👌🏽👌🏽 thanks for your parameters
