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I Spent $10,000 on Pionex Crypto Trading Bots - YouTube
Channel: Max Maher
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thing for crypto bots,
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and they asked me to put their bots to the test.
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And after some research, I put
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into Pionex's Bitcoin Moon Bot.
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I'm letting that bot run for 16 days
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and at the end of this video, we're going to
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check out the results,
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but in the meantime, I'm going to show you
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how to get set up on Pionex,
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how to deposit money if you're interested
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and any other details you need to know
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about all the various bots
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that are going on on this site.
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So jumping into the mobile app,
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you need to start up by making an account.
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So just click "Account" in the bottom right,
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and then click "Sign up" on the top.
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Put in your email and use the referral code on screen
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to save 20% on trading fees,
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if you're into saving money.
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You can also use the link in the description
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if you don't feel like copying and pasting over.
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All right, now once you're signed in, you wanna
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head back to the home screen,
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and this is where you'll find the deposit and withdraw buttons.
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So to deposit money, just click "Deposit".
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Select which crypto you would like to deposit.
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We're going to do USDT,
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and then select which chain that you're
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sending this on.
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You need to make sure that this is correct.
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So double check the withdrawal page
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from whatever exchange you're sending your crypto from.
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Now that you have money in your account,
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to start a bot, you need to go to the Trade page
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and click "Bot".
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You'll then select which pair you want
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to run the bot on, and then click "Create".
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Here you'll find all of Pionex's Trading bots.
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And before we talk about the
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BTC Moon bot, let's take a look at the
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at the other bot types because there's
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a lot going on here.
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There's three main bots.
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The first is the Grid Trading Bot.
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This is actually much less scary than it sounds.
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You know, when I first came across
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crypto bots, my gut reaction was,
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Yep, I'll be avoiding that.
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You know, that sounds way too risky.
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And this was until I understood
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how they actually work.
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A Grid Trading bot is simply just a set
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of buy and sell orders
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placed in between two price parameters.
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It's literally that simple.
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So for example, if ADA's price was
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bouncing around $2,
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you might want to set a grid bot with
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parameters between $1.90 and $2.10,
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and as the price fluctuates
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between these two prices,
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the bot will buy when the price goes down
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and it will sell when the price goes up
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at designated intervals.
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So it's perfect for volatile markets.
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Grid Bots, they work really well
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when things are trading sideways
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or going up.
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The bot I put $10,000 into is
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actually a variation of a
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a grid trading bot, which I'll get to shortly.
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Now, the second main bot is called the Martingale Bot.
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Put simply, the bot dollar-cost averages
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your money into a crypto and then sells
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at a designated take profit percentage.
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This is useful if you're an emotional trader,
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you know who you are.
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[Laughs] Sometimes, it's hard to
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make your regular dollar-cost average buys,
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especially when the markets are red.
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And the third is the Rebalancing Bot.
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This bot allows you to pick an index of
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cryptos with designated percentages.
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The bot will then rebalance every time a crypto
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increases over its designated
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weight within that portfolio.
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And this can be a great tool for
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risk mitigation and automation
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for your portfolio.
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It's kind of a set-it-and-forget-it kind of method.
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And then the other bots, in which there are 13 others.
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So without spending all day
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breaking down each of these, let's just do a quick
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rundown of what each of them is for.
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So for the DCA, TWAP,
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and Stop limit bots, those are just
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for different methods for buying or selling crypto.
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Pretty simple.
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The DCA is for dollar-cost averaging.
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TWAP is for spreading out
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large buys or sells to avoid market impact.
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This is basically reserved for ballers,
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and the Stop limit is for triggering
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buy or sell orders at designated prices.
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Next we have the Smart Trade,
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Trailing Sell and Trailing Buy bots.
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These are, you guessed it,
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Trailing bots.
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The Smart Trade and Trailing Sell bots
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virtually do the same thing.
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They allow you to set trailing sell orders
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to make sure you take profits
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after a large price increase.
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This can be extremely helpful
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and it isn't available on most platforms.
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And the Trailing Buy is the same thing,
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but for a buy order.
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Next we have the advanced grid bots.
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These are just all variations of the traditional grid bot.
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There's the Infinity Grid, which just
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buys and sells forever with no parameters.
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And then there's the Leveraged Grid bot, that's
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the exact same thing as a grid bot, except you
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borrow money to magnify
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your risk and reward. Be very careful.
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The Margin Grid allows you to lock up
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funds as collateral, and long or short any crypto.
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The Reverse Grid is what it says in the name.
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It does the opposite.
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It sells your crypto and
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tries to buy at a lower price.
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And there's also a leveraged version
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of that one as well, and then
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finally the last two bots,
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the BTC and Ethereum Moon bots.
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As you saw earlier, I put $10,000
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into that Bitcoin Moon bot,
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and this is a new type of grid trading bot
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with extremely large parameters.
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So earlier I gave that example of ADA
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in the price range of $1.90 to $2.10.
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The Moon bot is like of that price range but between
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$0.50 and $15 for ADA.
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And while that might sound kind of crazy, it's actually
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perfect for someone who likes to hodl Bitcoin
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and doesn't like to mess with bots too often.
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The current price parameters for the Bitcoin Moon bot,
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that I have set, range between $15,000 and $150,000.
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So the bot will continue trading
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as long as Bitcoin's price is between 15k and 150k.
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The reason that this is perfect for someone
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who just likes to hodl is because you can just
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literally set this and forget the bot,
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since the price range is so large.
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I learned this lesson the hard way,
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the first time I started off with bots.
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I put a tiny parameter on Shiba,
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and just let it do its thing.
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And Shiba did its thing and I ended up
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missing out on like $6,000 :'(
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But hey, you know, I learned
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the lesson the hard way,
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that way you don't have to.
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That's kind of my job here.
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And here's an example where a
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bot like this makes sense.
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So let's say you want to buy Bitcoin and
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write it up to $150,000,
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but you're thinking,
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Uh, you know, the price might be a bit
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high to get in right now,
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What if it goes down? Maybe you're concerned.
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You have a few options in that situation.
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First, you could simply wait for the price of Bitcoin
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to dip significantly and buy-in.
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Which of course is possible, but it can be tough
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to time these kinds of things.
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Second, you can buy a small amount of Bitcoin
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and dollar-cost average over time, which
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can be a solid strategy,
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as long as you stick to it.
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Or number three, you can automate it with
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a bot that will do this for you and
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just keep buying Bitcoin as it dips.
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You see, with manual strategies
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or day trading crypto, they both
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require a lot of maintenance,
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and you can be affected by your emotions.
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You could panic sell, you could
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FOMO and buy-in at something
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at any moment, which is fine if you can
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handle yourself when things are
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getting really heated.
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But of course, that's easier said than done.
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I know, I've had days where I'm
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buying into a dip and it feels like I'm just
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throwing cash into a bonfire.
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But I always say you need to have
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an investing plan when you get into
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crypto or really any investing,
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and stick to it. Just stick to your plan.
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And the Moon bot is basically just setting up
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a long-term plan and sticking to it,
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but without having to do any of work.
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Now, of course, this isn't to say that
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there's no risk because you can lose
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money in a crypto bot,
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if the price goes down.
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The way that I look at crypto grid bots
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is, you lose less money than
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holding outright if things are dipping
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because there's all those buys and sells
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and there's a price floor
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and you make money when it's trading sideways
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because you profit on the volatility,
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but you make less money than holding outright
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if prices are increasing dramatically.
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So this can be helpful to hedge risk and volatility.
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But again, that doesn't mean that it's risk free.
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So just be careful. None of this is financial advice.
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Something also worth noting is that
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Pionex has a U.S. FinCEN
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Money Services Business license, making them the
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first crypto exchange with built-in trading bots
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to get a US license.
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Now we wait for the results.
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*A few moments later*
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All right, the results are in.
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I got my lucky shirt on, it's almost midnight.
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I'm feeling good about this.
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So let's go ahead and check out this bot.
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Here we are on Pionex.
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And first I want to just show the grids real quick.
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So if I click this eye icon,
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we can see all the individual grids.
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So basically you can read this,
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the green are buy orders at
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various prices for Bitcoin's price,
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which you can see right here
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and the red are sell orders.
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So if the price drops down,
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then it would go ahead and buy some Bitcoin at
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these varying price ranges here.
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And if it goes up, it would start selling.
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That's kind of how that grid works, you know,
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buying, selling, and then you make money on that volatility.
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And then from here, if I click "Detail",
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this is where we're going to see all the profits
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and all that exciting jazz.
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So here we have the investment amount.
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The grid profit, this is realized profit,
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which is $47 and
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you can see this bot has been running for
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16 days, 13 hours, 43 minutes and 53 seconds,
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as of the recording of this.
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The unrealized profit, as of right now, is
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$216, and that makes the total
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profit, being both the realized and the unrealized,
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to $263, 2.63% in about 16 days.
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And then we can see the annualized amount here.
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Now there's one thing that I want to point out.
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When I started this bot, I started it
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on a pretty terrible time.
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I started when Bitcoin was high,
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Bitcoin literally hit a new record
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the day I was starting this bot
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and then it had a couple of days
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where it was not doing so hot,
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and there was one point where I was down like 4% or 5%.
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I think it was like 4.5%.
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So it had to climb out of that hole.
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And I didn't check it for this whole period
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because I was like, you know, it's just running,
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it's just in there, it's just running.
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I understand how the bots work
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and it climbed itself out of this hole
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and you can see, it got up to about
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break even for a few days here
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and then it really started doing well.
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And there was another little sell-off on Bitcoin, but you can see
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that flattened out and the bot is doing alright now.
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And this is fluctuating around between
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2.5% and about 2.75%.
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So really not bad considering that
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there was a significant sell-off right after I bought
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and a significant sell-off yesterday.
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So no complaints there.
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Now, if we go further through here,
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we can see the placed orders.
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This is kind of fun to watch, honestly.
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So this is just how far the
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the prices either to buy
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or sell, and you can see the varying
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prices here.
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I've spent a few minutes just staring at this
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because it's kind of fun to watch.
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And then we have the transactions tab here,
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which is just the buy and sell orders that
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have already gone through.
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And here are the bot parameters
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that we set up this bot with.
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Also here's what it looks like
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on the mobile app, because I know a lot of people like
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to use the mobile version,
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and it's pretty easy to use.
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I was using both through this experiment.
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So I'm pretty happy with the results
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of this experiment.
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Like I said, especially given
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that the first day was pretty rough, the first few days
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and there was another sell-off, so
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I have no complaints there.
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I really don't have any complaints with the UI,
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but again, just be aware that
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of course, there are risks.
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If the market goes down, your bots are also going to go down.
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But it just flattens out some of those risks.
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If you have any questions at all,
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make sure you comment those down below.
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And you can also join my Discord where we have
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an entire bot section,
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just to discuss trading bots on our Discord.
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Also, if you're interested in Pionex,
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make sure you grab the link down the description
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so you can save 20% on trading fees
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and try these out for yourself.
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So I'd like to thank you so much for watching
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and I hope you have a profitable day.
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