In this lecture, we will talk more about auto trading with the help of bots.
Auto trading is an integrated approach, when all your trading operations with a trading account are carried out through a specialized program.
Today, the market offers a variety of programs for traders in the form of robots.
With the help of trading robots, traders can switch their activities to an automatic mode. But to get a stable profit, it is important to track market changes and take them into account to set up the bot algorithm.
Bots are automated computer programs designed to perform specific tasks with minimal human intervention.
It is also important to know that creating them requires a certain level of skill, although the services below greatly simplify the work.
There are two main types of bots that are used in trading:
Grid bots are automated trading tools that use grid trading, i.e. a trading system that allows you to profit by placing a series of long or short orders at predetermined intervals around a set price, creating a trading grid.
DCA bots are automated trading bots that allow you to make automatic purchases of coins based on a given amount of investment and time intervals within a certain period, thereby reducing the impact of market volatility.
Today, large exchanges have built-in tools.
Cryptocurrency exchange KuCoin has announced the official launch of its trading bot feature. Users can use the KuCoin trading bot for free through the latest version of the KuCoin app, earning a stable passive income.
The following services offer advanced tools:
Pionex is a cryptocurrency trading platform offering a set of free trading bots. The service has prepared trading algorithms. It is also possible to customize your own. Pionex is available in the web interface and mobile application.
3Commas — cryptobot trading and cryptosignals. The 3Commas cryptocurrency trading bot can implement multiple bitcoin trading strategies based on technical indicators and allows you to trade bitcoin for profit. The user interface is more suitable for a professional trader.
The Bitsgap bot is best known for its unique mesh bots. These bots allow you to do high frequency trading that is only available to large hedge funds, or you need to buy these instruments at high prices. The Grid bot distributes investments proportionally within the trading range set by the crypto trader.
Cryptohopper is a paid bot for trading Bitcoin and other cryptocurrencies. One of the famous trading bots on Cryptohopper is the market maker. However, compared to Grid bots, Cryptohopper allows you to create your own trading strategies and copy others using the Cryptohopper marketplace.
Coinrule is a good cryptocurrency trading bot for beginners. It implements the “if-this-then-that” type of logic, which allows even not very advanced traders to build their trading strategy in a minute. A user-friendly interface helps users create a trading bot step by step.
Shrimpy is a paid service offering cryptocurrency trading bots with rebalancing support. It is this feature that distinguishes it from other bitcoin trading bots. It helps users to automate their portfolios and balance them according to certain ratios.
The TradeSanta trading bot works on eight major exchanges, Binance, Bittrex, HitBTC and Bitfinex, to help you trade crypto simultaneously on them. TradeSanta bots can trade both futures and spot markets.
Traality is a crypto algorithm builder best suited for automating crypto trading. Traality has the following advantages: an ultra-simple platform, excellent automation capabilities, a lot of educational materials and a developed community, advanced algorithms and features that are well suited for both beginners and experienced traders.
All links are in the description.
If you are a beginner, we recommend that you prefer Shrimpy, Coinrule and Pionex. These trading bots are easy to use and will reduce the complexity.