Flash News: OKX Introduces Trailing Settings to its Spot Grid Trading Bot
DUBAI, United Arab Emirates, May 14, 2023 (GLOBE NEWSWIRE) — OKX, the second-largest crypto exchange by trading volume and a leading Web3 technology company, has issued updates for the day of May 14, 2023.
OKX Introduces Trailing Settings to its Spot Grid Trading Bot
OKX is proud to introduce the latest upgrade to its Spot Grid Trading Bot with the addition of ‘Trailing’ settings. This new feature addresses the Spot Grid Trading Bot’s limitations in capturing the potential of rising or falling markets.
OKX’s Spot Grid Trading Bot allows traders to set a manual price range or use a back-tested AI strategy according to which the trading bot will execute automated buys and sells. The original Spot Grid bot works well in a sideways market, buying low and selling high when the price fluctuates 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. This limits the potential of rising/falling markets, which makes the Trailing feature necessary.
The new Trailing feature allows the trading 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 at a time 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.
The Trailing feature allows traders to 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.
To learn more about OKX’s trading bots, click here.
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About OKX
OKX is a world-leading technology company building the future of Web3. Known as the fastest and most reliable crypto trading platform for investors and professional traders everywhere, OKX’s crypto exchange is the second largest globally by trading volume.
OKX’s leading self-custody solutions include the Web3-compatible OKX Wallet, which allows users greater control of their assets while expanding access to DEXs, NFT marketplaces, DeFi, GameFi and thousands of dApps.
OKX partners with a number of the world’s top brands and athletes, including: English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo.
OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.
To learn more about OKX, download our app or visit: okx.com
Disclaimer
THIS ANNOUNCEMENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY. IT IS NOT INTENDED TO PROVIDE ANY INVESTMENT, TAX, OR LEGAL ADVICE, NOR SHOULD IT BE CONSIDERED AN OFFER TO PURCHASE, SELL, OR HOLD DIGITAL ASSETS. DIGITAL ASSETS, INCLUDING STABLECOINS, INVOLVE A HIGH DEGREE OF RISK, CAN FLUCTUATE GREATLY, AND CAN EVEN BECOME WORTHLESS. OKX IS NOT REGULATED BY THE FCA, THUS, PROTECTIONS SUCH AS THE FINANCIAL OMBUDSMAN SERVICE OR FINANCIAL SERVICES COMPENSATION SCHEME WILL NOT BE AVAILABLE. YOU SHOULD CONSIDER WHETHER YOU UNDERSTAND HOW CRYPTO WORKS AND WHETHER TRADING OR HOLDING DIGITAL ASSETS IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. THE VALUE OF YOUR DIGITAL ASSETS, INCLUDING STABLECOINS, CAN INCREASE OR DECREASE AND PROFITS MAY BE SUBJECT TO CAPITAL GAINS TAX. PAST PERFORMANCE DOES NOT INDICATE FUTURE RESULTS. PLEASE CONSULT YOUR LEGAL/TAX/INVESTMENT PROFESSIONAL FOR QUESTIONS ABOUT YOUR SPECIFIC CIRCUMSTANCES
