Sadly there is no other way around it and I don't think a bot if there was any would perfectly bail you out in this scenario. This is my suggestion. I have been using it for a while
1. Download apps that can alert you on the trend of the market. You can set a price of the asset you would like to be alerted on in case there is a drop or rise
Here are some of the apps I use
- Tabtrader
- BitUniverse
- Delta app
2. These will help you to make quick decisions in case of a sudden trend. I also make sure I have all the trading apps installed on my phone so that I case am away from my computer I can still trade. Tabtrader helps with these by trading through API Keys on the app in my phone.
Hope it helps
Topic: How to automatically trade from btc to usd tether while day trading on binance? (Read 116 times)
November 15, 2018, 07:43:21 PM
November 15, 2018, 07:05:31 PM
There's no exchange site that will automatically do that for you. Even if you use a bot, you need to set a command to do that if market condition is bad. Bots will just do what we asked them to do, it will not think for us so we can save our coins. I this situation I just hodl and wait for the market to recover. Don't panic, bad decisions happen when we panic.
November 15, 2018, 05:38:18 PM
I recently just got burned by this dump BTC just went through. I am trying to day trade altcoins on Binance and I always set stop losses to prevent too much loss on my trade. But even if I set a stop loss, most of these coins are following the market so if BTC is dumping then it won't matter. So what I want to know is if it is possible to automatically trade from BTC to USDT when I sell an altcoin on Binance since limiting my self to just the USDT market is a bit too little for me. If there is any other way for me to hold my value when selling an alt from BTC or ETH then I would really like to know that as well.
I'm sure you can code a script to do that. But I'm confident Binance doesn't have a way to do this through their normal trading interface, and I haven't seen this type of logic offered in the bots I've seen.
When I trade altcoins, I stay keenly aware of what's happening on BTCUSD. I've been avoiding altcoins entirely the last couple months, waiting for BTC to establish a new trend. Sadly, it looks like the new trend is down.
November 15, 2018, 04:11:06 PM
I recently just got burned by this dump BTC just went through. I am trying to day trade altcoins on Binance and I always set stop losses to prevent too much loss on my trade. But even if I set a stop loss, most of these coins are following the market so if BTC is dumping then it won't matter. So what I want to know is if it is possible to automatically trade from BTC to USDT when I sell an altcoin on Binance since limiting my self to just the USDT market is a bit too little for me. If there is any other way for me to hold my value when selling an alt from BTC or ETH then I would really like to know that as well.
Nope, not without the use of a bot or by trading alt/usdt. There's no way to trade alt/btc and then have the btc automatically converted to usdt.
November 15, 2018, 03:35:07 PM
I recently just got burned by this dump BTC just went through. I am trying to day trade altcoins on Binance and I always set stop losses to prevent too much loss on my trade. But even if I set a stop loss, most of these coins are following the market so if BTC is dumping then it won't matter. So what I want to know is if it is possible to automatically trade from BTC to USDT when I sell an altcoin on Binance since limiting my self to just the USDT market is a bit too little for me. If there is any other way for me to hold my value when selling an alt from BTC or ETH then I would really like to know that as well.
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