Ready to start Spot Trading? Here is a tutorial that will guide you through Spot Trading and show you how to make passive income via the KuCoin Trading Bot in 3 steps.
Step 1: Install KuCoin App
Download and install KuCoin App, then locate "Trading Bot" on the homepage.
Step 2: Create Spot Trading
Click “Classic Grid”, then click “Create” to start a grid trading bot. KuCoin Trading Bot provides 2 ways to create grid trading. The one is “AI Parameters”, and the other is “Customize Parameters”.
2.1 Create Spot Trading via AI Parameters
a. Choose a trading pair. Since Spot trading is chasing volatility, higher volatility will bring higher returns. So, it is best to choose the most volatile pair.
b. As you can see, the Price Range and the Number of Placed Orders will be set by the AI, so you just need to enter the “Total Investment”, which is the value of funds you plan to invest in the Spot trading.
After entering the “Total Investment”, you can view the “Profits/Grid”.
c. Tap “Create”, and check and confirm the order confirmation, then tap “Confirm” to run the trading bot.
2.2 Create Grid Trading via Customized Parameters
a. Tap “Customize Parameters”, choose a trading pair, and set the ‘Min. Price’ and ‘Max Price’. The Min. Price is the lowest buying price. If the token price goes lower than that, the Spot trading bot will be stopped until the price goes back to the range. Same for Max. Price, if the token price goes over your setting, no more orders will be executed. So if you want to maximize your profits, you’d better try to ensure that the token price will not exceed your price range in the next few days. When setting the grid, try to predict the maximum and minimum prices that the token may reach in the near future based on historical trends.
b. Set the “Number of Placed Orders”, and enter the “Total Investment”.
c. Tap “Create”, and confirm the order information, then tap “Confirm” to run the trading bot.
Step 3: Check the Profits of Grid Trading
a. Tap “Trading Bot”, under “Running”, users can check the details of the profit, such as Grid Profits, Floating PNL, number of arbitrages, and APR.
b. Click “Trading Bot”, and then “Profits” to check the total profit and historical profits.
The longer a Spot trading bot runs, the better it works and the more profit it generates.