A method for hot dip coating a metal strand includes passing the metal strand vertically through a coating tank that contains molten coating metal and through a guide channel upstream of the coating tank. A electromagnetic field is generated by inductors on both sides of the metal strand and an electromagnetic field superposed on the electromagnetic field of the inductors is generated by supplementary coils on both sides of the metal strand. A center position of the metal strand in the guide channel is stabilized by: (a) measuring the position of the metal strand in the guide channel; (b) measuring the induced current in the inductors; (c) measuring the induced current in the supplementary coils; and (d) influencing the induced current in the supplementary coils as a function of all of the parameters measured in steps (a) to (c).