Traders on traditional trading markets short with borrowed money and return the same amount, leaving the profit they made by selling the borrowed assets and buying it back to themselves.īy setting up a long bot on BTCUSDT pair you bet that BTC price will go up, so you buy it now with USDT. The pride difference of selling and buying BTC is your profit.ĭisclaimer: the concept of shorting in automated trading is different from the common definition of shorting. But you there must be a base currency (first currency of the pair) on your account to short the coin.įor example, to start a short trading bot on BTCUSDT pair, you will sell BTC on you account, to buy the same amount later at the lower price. The profit you get, like in a long strategy, is also in quote currency.
PRIDE ICON BOT PLUS
Thus, in the end you will have the same amount of coins plus the profit you made on the price difference in quote currency. ShortĪ bot in the short strategy will sell the coins you have and buy them back later at a lower price. USDT is also the currency that you have to have on your account for bot to trade.īTC is the base currency that you will buy and sell to profit. The profit you get is in the quote currency – the one you used to buy coins, second currency of the pair on your cryptocurrency exchange.įor example, in BTCUSDT pair, USDT is the quote currency that you buy BTC with, and you will receive profit in USDT when the BTC price goes up. Long strategy means that the crypto bot will buy coins gaining profit by selling them later at a higher price. However, both trading bots can execute either long or short strategy.
TradeSanta’s Grid and DCA bots differ in how they take profit.
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