Futures Trading Bot Guide
To start trading Futures you need 1) Futures account on Binance 2) Create API keys for Futures account and set up a Futures access point on TradeSanta 3) Be a Maximum plan subscriber.
Here’s a guide to Futures automated trading via TradeSanta
1. Create a Futures access point on Binance. To do that:
a. Create a futures account
b. Transfer the amount of money you want to trade to Futures wallet
c. Create API new API keys and copy the credentials
d. Click on the edit restriction button, check Futures trading and click save. Make sure your Futures trading is set to one-way mode, not hedge mode (hedge mode is not supported by TradeSanta bots).
2. Create a new access point on TradeSanta the usual way
3. To create your first Futures bot you need to be a Maximum plan subscriber.
4. Create a bot
a. Choose a Futures access point, a pair to trade and predicted price direction (long or short).
b. The bot works like a spot DCA bot. Set up the bot as usual. You will see a new parameter - Leverage which specifies how much money you will borrow. Before setting up a leverage make sure that you have enough collateral to take it. The bigger the leverage the smaller position would be available to you. If this amount of leverage is not available, the bot won’t start.
c. The order volume is calculated as the amount with leverage
d. Calculator below will show you how much you need to have in your wallet to start the deal with the chosen setting. The bigger the leverage, the smaller the sum you need to place the same order volume
e. Note, you can only create 1 bot for each pair.
f. Only USDT M Futures are available for bot trading for now nd only one-way mode is supported. If you set hedge mode on Binance Futures the bot will not start trading, so please make sure you have one-way mode on.
5. Bot trading
a. The Futures bot stats are the same as for a spot bot. It contains the same parameters such as Unrealized and Realized Profit, Unsold volume, price chart and orders placed.
b. Please note that whenever the bot places a new Extra order, the amount of Margin balance needed to keep positions open will go up. The position will be liquidated and the bot will stop once Margin ratio reaches 100%. Keep an eye on the exchange to check your current margin ratio.
c. Realized profit takes into account commission, but doesn’t not include funding fee.
To learn more about Futures trading on Binance, you might want to checkout the following guides:https://academy.binance.com/en/articles/the-ultimate-guide-to-trading-on-binance-futures https://academy.binance.com/en/articles/the-ultimate-guide-to-trading-on-binance-futures https://academy.binance.com/en/articles/the-ultimate-guide-to-trading-on-binance-futures