The incredible volatility of the cryptocurrency markets is driving thousands of traders worldwide crazy.
He left the computer for only five minutes and, according to the law of meanness, missed the main deal of the last month!
How does it work?
Cryptocurrency trading bot is a brilliant program.
It executes transactions based on a pre-prepared trading strategy.
Bots don’t know emotions! Cold mathematical calculations drive them. The management strategy becomes as clear as possible.
The Trading Bot places buy and sell orders on your behalf. Deals boil even during sleep! From now on, sound and healthy sleep.
You must connect your safesun coin account via the API, select a trading pair, and set up a strategy.
The bot connects to the exchange. It begins to follow the market. Opens and closes deals on your behalf as soon as possible.
Benefits of automated trading.
Adaptability! The main feature of cryptocurrency trading bots.
All you have to do is adjust your strategy. Or create additional bots when you feel like it’s time to expand.
The number of transactions is increasing. The trading speed is multiplied.
No human can trade at the same speed as a computer program!
Moreover, the cryptocurrency trading robot ensures that your order stays at the top of the order book! It will be executed first. Just imagine that doing such work manually will no longer tire you.
Protects from emotional outbursts.
When something goes wrong, you suffer. Emotional trading and impulsive behaviour often lead away from a good strategy. They lead to losses.
Cryptocurrency bots are insensitive. They always follow a strict algorithm.
Formulas instead of nerves!
How does a trading bot work?
A cryptocurrency trading bot is a program that executes transactions according to a specific trading strategy. In other words, a trading bot places buy and sell orders on a crypto exchange on your behalf. They work even when you are asleep and are not driven by fear or greed, so they follow strategies more accurately.
Benefits and risks of using a cryptocurrency trading bot
The best thing about using cryptocurrency trading bots is their ability to adapt to the current market, in other words, their flexibility.
It doesn’t matter if the market is bull or bear: with the right strategy and tools, you can make potential profits regardless of market conditions and always adapt them to your trading style and approaches.
However, there are certain risks that you may face when you start using them in your trading routine. Let’s take a closer look at the pros and cons of cryptocurrency trading bots:
Still need control
Yes, bots can trade on their own, and you don’t need to be tied to a computer or phone. However, you still need to monitor the current situation in the market in case it suddenly starts moving in the wrong direction, so you can quickly change your settings or switch to another trading pair.
Be wise about which bot platform you use.
If you ever come across a bot that promises you profits after depositing your digital assets into their smart contract, don’t even think about it. Real bots work through your crypto exchange account and you can see all the trades your bot makes. In addition, your API keys must not allow the bot to withdraw funds from your account.
What are the most famous cryptocurrency trading platforms worth checking out?
TradeSanta is a crypto trading bot platform that has been in operation since 2018, and TradeSanta has supported the HitBTC exchange since its inception. It has already helped hundreds of thousands of people simplify their day-to-day trading, with over 210,000 registered users and over 22 million trades.
So what tools does TradeSanta offer to help you improve your HitBTC trading? Let’s take a quick look at TradeSanta’s features:
- TradeSanta bots can trade both futures and spot markets.
- TradeSanta offers a wide range of signals, such as custom TradingView signals and ready-made signals based on the TradingView Screener and technical indicators such as Bollinger Bands, MACD, RSI, etc.
- Risk management tools such as stop loss, trailing stop loss and trailing take profit.
- DCA and grid strategies are very popular among crypto traders.
- Demo trading allows you to test your strategy in real market conditions without investing real money.
- Telegram notifications plus real-time tracking to keep up with what your bots are doing.
- TradeSanta also has a great feature that allows you to quickly close all positions and convert all coins in your portfolio to USDT or BTC. This can be very handy and a real-time saver if you need to do it quickly, for example, when the market starts to fall or you just want to lock in your earnings.
- Teradata also has a trading terminal that you can use if you want to place orders manually. This is especially handy if you trade multiple exchanges simultaneously and want to place all orders in one place rather than opening each exchange separately.
A mobile app for iOS and Android is also available to manage your bots on the go.
It is worth noting that TradeSanta is constantly evolving and adding new features to make the trader’s work more productive and convenient.
First conclusion.
The cryptocurrency trading bot is a wonderful program! xwp price A wonderful tool, a machine that helps you trade hundreds of times faster and smarter. However, do not forget that any car, even the best, needs a quality driver for real victories! Go ahead, friends. Towards new successes.
The most attractive feature of cryptocurrency trading bots is their adaptability.
It doesn’t matter if the market is bullish or bearish: with the right strategy and tools, you can benefit regardless of market conditions: you can always adapt them to your style and trading methods.
Works 24/7 and saves time
Unlike traditional markets, cryptocurrency operates 24 hours a day, seven days a week. At the same time, being glued to a laptop or smartphone 24 hours a day, seven days a week, is impossible.
You must check them from time to time and manage or create new ones as needed.
Increases the number of transactions and multiplies the speed of trading
No human can trade at the same speed as a computer program that can place multiple orders in a fraction of a second (one 64 millionths of a second if we are talking about HFT bots).
Creating bots to trade for you increases the speed of your trading and is worth considering when you are trading multiple pairs simultaneously.
Protects from emotional outbursts
When something starts to go wrong, you inadvertently become emotional. And emotional trading almost always results in losses because you abandon well-planned strategies and game plans in favour of impulsive behaviour.
Cryptocurrency bots are insensitive and always follow the algorithm laid in them earlier.
Cuts the routine out of your trading
The use of automated crypto bots can make trading more convenient. We all know that trading in the cryptocurrency market, which is known for its extreme volatility, can be stressful and that winning more and losing less requires careful study of current trends, market conditions, and upcoming events.
Cryptocurrency trading bots can help you simplify this trading process. Moreover, crypto bots can open and close trades ten times faster than any professional trader, so you don’t have to do all the work manually.
Conclusion
A cryptocurrency trading bot can be a useful tool to save time and make your trading more efficient. Letting the robot follow the market can help you catch the best trade. In addition, cryptocurrency trading bots can trade hundreds of times faster than humans, giving you the edge you need to use the cryptocurrency market.
However, remember that a bot is just a tool, and you must ensure it works properly.
