Everyone loves trading bots! The traders love them because the bots do most of the boring routine shit while the traders drink their beer or martini. Get-rich-quick hustlers love the bots because the bot shills promise exactly that, to make the hustlers rich quickly -- and "passively"! The exchanges love them because most of the trading bots generate shitloads of trades and trading fees. No wonder then that the exchanges now offer trading bot as a service for free.
Whatever, nevermind.
I have an account at Kucoin exchange to withdraw my Publish0x earnings at. Unlike Leofinance and other Hive-based platforms, Publish0x has no concept of staking or voting power, it's mostly useless to hodl pennies there. So I decided to put my pennies at work with Kucoin's free classic grid trading bot.
There's a nice intro to grid trading strategy. Shortly, grid trading is when we (or the bot) put several buy and sell orders around some price mark. When the price goes below the mark, it buys. When the price goes above the mark, it sells. So, grid trading works best when the price fluctuates in some range or slowly goes up.
To create a classic grid trading bot we have to choose a trading pair for the bot to work with, the price range (min and max price), size of the grid (the amount of buy/sell orders to place), and the initial entry price mark. The bot then places the orders within the price range: roughly half of the orders below the entry to buy, roughly half of the orders above the entry to sell. Then an order is executed, the bot places a new opposite order. The goal is to get more of quote currency. To pick the correct settings for the bot is a crucial factor of success. However, it's much easier said than done...
With a 0.0002 BTC depo, I created a KCS/BTC grid of 80 orders within the 0.00013-0.00025 BTC price range and with an entry price of 0.000188 BTC If everything goes as planned, I should end up with moar BTC.
By now my trading bot is up for about two weeks.
During this time the bot made a shitload of trades and earned me about 0.00002 BTC after fees, which is +10% to the depo and makes APR is 248% yearly. This is a completely passive income -- I didn't touch the bot after setting it up. Well, a 248% APR on BTC passively looks kinda great deal!
I will keep the bot running as long as it can. When KCS price falls out of the 0.00013-0.00025 BTC range, the bot should stop and I will calculate the final outcome.