Automated crypto trading – The best approach for executing crypto trades
by Trailing Crypto cryptocurrency expertsTime never waits for
anyone and crypto trading market is no exception. Keeping up with the fast
changes in prices in crypto assets is the key to a successful trade. But a
plethora of cryptocurrencies, numerous tools, and several trading strategies
may cause confusion to the beginners. Fortunately, there are several automated
trading processes available for traders because of technology. This helps
traders to execute trades automatically by predicting trends, market analysis,
etc.
So, what the heck is automated
crypto trading?
Automated crypto trading
Automated trading lets
the traders trade cryptocurrencies actively without watching the market trends
continuously. This kind of trading uses different algorithms and computer
programs to buy or sell cryptocurrencies according to predefined levels.
Depending on the kind of trading strategy used, the trades are executed based
on technical indicators, current asset price, etc.
Automated crypto trading
is the better option if you don’t have time to watch market trends or don’t
want to buy and hold. Different crypto trading platforms like TrailingCrypto,
Cryptohopper, etc. are available with their own set of trading features,
strategies, trading bots, and more. These platforms have automated software
which trade on behalf of the trader.
These software react
to market changes to trade at the right moment. There are some trading bots in
the market which utilize smart contracts and operate directly on the blockchain
via making use of APIs. Automated trading also allows traders to carry out multiple
trades in a small amount of time.
How does automated
crypto trading work?
When it comes to
automating your trades, firstly, you have to choose the right crypto trading
platform and set the trading strategy. The best trading platforms allow traders
to customize their trading strategy with some set of rules or conditions, and
then the software will place the trades on behalf of the trader. These factors
include the entry price or exit price, timings of the trade, and quantity.
The trading strategy
which you will set will monitor the market continuously and constantly. This
way, the trades will be executed automatically if the predefined conditions are
met. The main aim of automated trading is to execute trades faster while taking
advantage of the market trends. The best trading platforms offer a variety of
trading bots to the traders which works based on preset conditions, trading
signals, market analysis, and more.
If you are thinking
about trading Bitcoin, then there is good news for you! You can consider BitMEX
trading from TrailingCrypto. The platform offers automatic trading options for
Bitcoin and other crypto assets. If you are a beginner and are not aware about
the market in deep, copy trading from the experts and making use of crypto
trading bots is another viable option for you from the third party exchanges.
In addition, the best trading platforms also offer a totally secured
environment for trading.
Automated crypto
trading via bots goes through some steps including data analysis, signal generation,
risk allocation, and execution.
How to start Bitcoin
automated trading?
You can easily
automate your Bitcoin trading by using the recommended exchange BitMEX and an
automated trading platform like TrailingCrypto. Here are a few steps to follow:
- Register yourself on the
automated crypto trading platform
- Deposit amount as required
- Choose the exchange for Bitcoin
trading. The best trading platforms offer copy trading feature which
allows traders to copy trades of successful traders
- Trade Bitcoin automatically
BitMEX trading
Automatic crypto
trading is the future of crypto cryptosphere, as it outperforms manual trading
in several ways. You don’t need to watch the market trends 24x7, automated
trading allows you to trade dozens of pairs at the same time. And, crypto
trading bots are based on some predetermined rules to help traders trade
automatically.
If you want to trade
on BitMEX exchange, you only need to have an account on the
exchange. And, then you have to choose the third party platforms to start
trading automatically via trading bots. Yes! You can create your own bot on
BitMEX using third party platforms like TrailingCrypto, Cryptohopper, etc. The
bot will automate all kinds of trades on BitMEX exchange with inbuilt
algorithms for different market situations.
Once launched, the
BitMEX automated trading system via bot will handle all your trades and
generate profits when you are not available at your system to monitor market
trends. So, consider automatic trading in the form of trading bots or copy
trades, and let yourself get on with other things without thinking about any
losses. The exchange offers margin trading, grid bot trading, and other
features to help traders trade smartly.
Advantages/disadvantages
of automated crypto trading
Let’s understand about
the pros and cons of automatic crypto trading for the traders:
- Saves your time: You don’t have to spend hours on your system
checking the market trends, a bot will do all the hard work for you.
- Faster transactions: Even if you are sitting on system, watching market in
real-time, you can’t execute trades as quickly as the crypto trading bot.
- Bots don’t have emotions: A bot only cares about the algorithm and the
instructions given to them. As soon as they meet the predefined criteria,
they will execute the trade.
- Still you need to follow the
investments: Yes, the bot will execute the
trades on your behalf, but still you have to make sure the bot strategy is
working. If you are not monitoring the account, there are chances that you
may lose money.
- You need to know how it works
and what you are doing: Trading
bots rely on multiple indicators and if you don’t know how it works, there
are chances that you shouldn’t be using it.
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Created on Mar 13th 2023 11:43. Viewed 39 times.