Ready to automate your trading with GeniusBot? Follow this step-by-step guide to set up your bot and start trading in no time. Let’s dive in!
1. Import the Token
GeniusBot allows you to trade any token of your choice. Here’s how to import one:
Navigate to the Token Menu:
In the GeniusBot interface, click on the “Token” menu.Import Your Token:
Select “Import Token” and enter the token’s contract address. Done!Reply with the Token’s contract address.
Your chosen token is now ready to trade.
2. Create or Import a Trading Account
The bot needs a trading account to operate. You can either create a new one or import an existing one.
To Create a New Account:
Go to the “Trading Accounts” menu.Click “Create New Account”.Save the generated private key in your preferred wallet provider, such as Phantom.Please store your private key savely!
To Import an Existing Account:
Select “Import Existing Account” in the same menu.Enter the private key of your existing trading account.Reply with the private key of your account.
With your trading account set up, you’re one step closer to live trading.
3. Set Up Your GeniusBot
Time to configure your bot!
Go to the Bots Menu:
Click “Create Bot”.Choose Your Trading Preferences:Select the market and the token you want to trade.Select Market, Pair and Bot Type.Pick a bot type, such as the Price-Range Grid Bot, and hit Next.Enter Bot Parameters:
Specify the following details:Price Range: Define your desired trading range (min_price and max_price).Number of Trades: Set how many trades you want within this range.Edit a parameter by replying with a new value.🛠️ Tip: GeniusBot pre-selects default parameters based on the last 30 days’ high, low, and volatility. While convenient, you should tweak these settings to match your strategy.
Click Finish to finalize your setup.
4. Evaluate and Create Your Bot
Before going live, evaluate your bot’s performance and activate it:
Evaluate Past Performance:
Click “Evaluate” to see how your bot would have performed over the last 90 days.⚠️ Note: Evaluation may have issues if your price range falls outside the historical data window.Click Evaluate to evaluate its performance or Create to finally create your bot.Create Your Bot:Click “Create” to finalize the bot.Select the trading account you want to use.Set the investment amount in USDC.⚠️ Important:Ensure your trading account has sufficient USDC. If needed, transfer or exchange funds to cover the amount.Only one bot can trade on an account at a time. To use the account for another bot, terminate the active one first.
Once everything is set, hit “Create”, and your GeniusBot will begin trading automatically.
Start Trading Smarter
Setting up a GeniusBot is designed to be quick and straightforward, giving you more time to focus on strategy and less time on manual execution. With GeniusBot, you’re all set to automate your trading game!
Bot State of CHILLGUYUSDC Price-Range Grid Bot
Happy Trading! 🚀
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How to Set Up a GeniusBot Trading Bot in 4 Simple Steps was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.