How to set up a Trade

Step by step guide on setting up a trade using the Binance Futures Bot, different variation.

A-K / L-Z USDT Pairs

First of all start by selecting your desired pair from one of the two sections above

A-K USDT Pairs

After chosing one pair (in this case I chose ALPHA for demonstrating purposes) you will be preseted with the options bellow

These are the different kind of trade variations that you can choose from

ORDER TYPES	SHORT DESDCRIPTION
LIMIT STOP TARGET	AUTOMATED RISK MANAGEMENT
LIMIT	INSTANT LIMIT ORDER ON CLOSES BID/ASK
MARKET	INSTANT MARKET ORDER BUY/SELL
LIMIT ORDER	SINGLE LIMIT ORDER - MANUALLY INSERTED AMOUNT
STOP MARKET	DYNAMIC STOP MARKET ORDER - AUTOMATICALLY CALCULATED SIZE

• Instant ⚡️Limit⚡️ & Instant ⚡️Market⚡️

  • Those are identical scenarios, they are both used to enter the market as fast as possible at the current price. Asuming you are familiar with the differences between the Limit & Market orders I will only explain why they differ from the Binance Interface

    • Market: Since the Bot is using API the order is submited 10 times faster than the user interface without any lag between the click and the execution

    • Limit: This is a feature not available in ANY exchange so far. This instant Limit feature creates a Limit order at the closest Bid or Ask (depending if you are selling or buying) thus filling you out 95% of the time at almost the market price but avoiding the fees

Example of the ⚡️Limit⚡️ order:

You want to buy Bitcoin. Current price is 52.847,39 Spread is 0,01 By pressing the ⚡️Limit⚡️ button a Limit Buy Order is placed at 52.847,38 instantly, in a liquid market as Bitcoin your order is going to get filled by a Market Maker extremely fast almost like entering with a Market order but avoiding the fees. If you consider that price is changing multiple times per second due to algos bidding/asking constantly it is impossible to do this manually through any user Interface. This feature saved me personally atleast 70% of the fees that I was paying .

Use ⚡️Limit⚡️ order instead of ⚡️Market⚡️ order to ensure an instant fill but paying less fees

Chose Buy / Sell - Enter the amount and your trade will be initiated

BUY	SELL
Press if you want to Long	Press if you want to Sell / GoShort

• Limit▪️ Stop ▪️ Target

The above is a function that allows Automated Risk Management on your trades. When you press it you will be introduced to the following screen:

How much of your account Balance you wantto risk?

Write your Entry Stop (and Exit if you want to preset a target) separated by [space]

Example of the ⚡️Limit - Stop - Target⚡️ order:

You want to buy Bitcoin at the price 10.000$ You also want to stop out of the trade if BTC drops lower than 9900$ Your portfolio is 8000$ and you don't want to risk more than 1% (80$) on this trade. In order to calculate the correct position size in BTC value you would normally need to do many calculations that the bot is making automatically saving you time and the human mistake factor.