News from the crypto world.

  • When it comes to choosing and programming bots, you must follow the basic rules of automation

    Automation does not mean the complete absence of human intervention. You still need to think about fundamentals and do due diligence.

    Large, time-consuming tasks that are fairly repetitive and cause unnecessary complications should be automated first.

    So what exactly can be improved with trading bots? Let's see.

    #1 Repetitive Tasks

    Repetitive administrative tasks require a lot of time and effort. A trading bot will allow you to virtually "copy and paste" specific tasks to facilitate trades. One of the clearest examples of repetitive cases where bots can help you is periodic rebalancing. If you choose to rebalance hourly, then you need to, as the name suggests, rebalance your portfolio every hour.

    So you have two options

    You can set an alarm to do it manually every hour and eventually go crazy.

    Create a trading bot and program it to rebalance your portfolio hourly until the end of time.

    No. 2 Timing of operations

    Timing and achieving a high degree of accuracy in trading are essential to a successful trader. Every trade you make can have a huge impact on your earning potential. Let's look at one example. Let's say that the price of Bitcoin is going down and we want to sell our position the moment it hits the $8750 support line.

    If you do it manually, you will have to patiently and carefully observe the price chart, and even then you may not have time to click on the button at the right time. The bot is quite easy to program to monitor the market and make a trade at the right time.

    #3 Day trading can be a full-time job

    We all have many daily responsibilities that can get in the way of sitting in front of computer screens and following price charts 24/7. Also, imagine the headache that would be if you had a really well thought out and diversified portfolio! The amount of research that you have to do every day can be overwhelming if you do it all alone.

    In addition, as we mentioned earlier, there are many repetitive labor-intensive tasks in the trading process. A trading bot can efficiently perform these repetitive tasks throughout the day and make the process much easier.

    #4 The market never sleeps

    As we mentioned earlier, the cryptocurrency market never stops working. There are literally thousands of exchanges around the world, providing their services 24/7. It sounds very good, but the reality is that the price can also change around the clock. Unfortunately, this means that in order to ensure that you are using your funds to the best of your ability, you will need to be awake at all times, carefully reading price charts.

    Since this is not possible for a human, you have two options

    Give up the maximum possible profit by exiting the market for a while.

    Enter the desired settings in crypto-robots so that they automatically execute strategies while you sleep.

    #5 Complications can be simplified

    Consider an example of "intelligent order routing"

    The idea is to trade across multiple trading pairs.

    Each individual trading pair is selected as carefully as possible in terms of the time of the transaction, the number of assets and the price.

    The entire process must be completed within a certain period of time until market conditions change.

    Sounds simple enough, right? However, the execution of such a transaction may be practically impossible. This is just one of many examples of complexities to consider when learning to trade. Some strategies are almost impossible to implement.

    The robot for trading on the cryptocurrency exchange makes it easy to automate the most complex strategies.

  • When my friends and I wanted to try our hand at cryptocurrency trading, one of us found a platform with support for many crypto trading bots and built-in access to popular exchanges with the ability to trade different cryptocurrencies at the same time. We liked it so much that we decided to cooperate with this platform. So far, we like everything and are satisfied with everything. Commissions are low and leverage is available.

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