Comment on page
How to Trade on a CEX with FLOWTRADE.ai
Trading on FLOWTRADE.ai via a centralized exchange can be a profitable venture if you have the right knowledge and tools. In this educational post, we'll walk you through the basic steps to start trading on FlowTrade using a bot.
Step 1: Link your Exchange account with an API.
To trade on FLOWTRADE.ai using a bot, you'll need to link your exchange account with an API key. An API key is a unique identifier that allows your bot to access your account, to read and trade, without requiring you to log in manually. To generate an API key, log in to your exchange account and navigate to the API settings page. Follow the prompts to create a new API key and make sure you save it in a secure location. Go to the NOSIS dashboard and add your API credentials.
Step 2: Select your trading strategy.
Before you start trading, you need to decide on a trading strategy that fits your risk tolerance and trading goals. We provide pre-built strategies to save you time.
Step 3: Allocate funds to the strategy bot.
To start trading, you need to have funds in the strategy you have chosen. Navigate to start configuration and deposit the amount you want to trade with. This does not mean that the funds leave your wallet, you are just allocating an amount in your wallet for the bot to work with, all funds remain in the traders exchange wallet.
Step 4: Select your token pair.
Once you have funds in your account, you need to select the token pair you want to trade. FLOWTRADE.ai supports a wide range of token pairs, so choose the one that fits your trading strategy. You also need to select the timeframe you want the strategy to work on.
Step 5: Start configuration and sit back and let the bot do all the heavy lifting.
Step 6: Monitor your trades.
Once you start trading, you can monitor your trades regularly on the NOSIS/FLOWTRADE.ai dashboard or on your exchange where you will see the buy's and sell's. It's also important to keep up with news and market trends that could affect your trading strategy.
Step 7 Copy trading.
After following the above steps to connect your exchange, you can select copy trading and allocate the desired amount of funds. Our experienced trading analyst will handle the rest of the process.
In conclusion, trading through FLOWTRADE.ai using a bot can be a profitable venture if done correctly. By following the steps outlined in this post, you'll be well on your way to becoming a successful trader. Remember to always do your research, develop a sound trading strategy, and monitor your trades closely.