Automation has become the order for the day! The presence of automated processes is evident in all aspects from building a product or service from scratch to its completion. The world of cryptocurrencies has also welcomed automation.
Automated trading in crypto
If you are a crypto trader, then you must know how demanding the trading on crypto-assets can be. In order to keep up with the highly volatile crypto trading market, you have to follow the 24×7 charts to check uptrends and downtrends in the market.
You must have 100% concentration in entering and exiting positions at the right time to earn profits. But, why spend all the time at the system when there is a better way to trade crypto?
Yes, you can automate your trading strategy!
Automated crypto trading allows its traders to execute trades without having to keep a constant track on the market trends. We all know cryptocurrencies for its volatile nature with prices fluctuating dramatically even in the space of seconds. Automated trading lets the traders actively trade cryptocurrencies without monitoring the system 24 x7.
Don’t have time to trade cryptocurrency, and don’t want to buy or hold for long, try out automated trading!
Automated trading uses algorithms/software to buy or sell cryptocurrencies at certain times. Depending on the kind of strategies trader use, the trades can be executed based on the crypto asset price, the proportion of value in your portfolio, and any other technical indicator.
Based on your strategy, the system will execute trades on your behalf, pivoting on that one factor which you have chosen from the credible/possible factors. With one-click access to real-time trading data, and strict risk-management tools along with real-time position management, the popular automated crypto trading platform, TrailingCrypto comes handy in the highly volatile and unpredictable market.
If you are a beginner and don’t know about the right strategies to trade successfully, automated trading via trading bots will be of great help. The best trading platforms have their own set of features, and trading strategies to make your trades successful.
If you have tried your hand in the stock market, you know that it remains open during specific hours, outside of which trading comes to a halt. But, on the other side, the cryptocurrency trading market is open at all time i.e. 24×7. Keeping round-the-clock track on the crypto market manually is near impossible, which is why several traders turn to automated bots.
Automated trading strategy allows traders to establish some set of rules for both entries and exit, that once set can be automatically executed. Automated trading systems typically require the use of software i.e. crypto trading bot linked to crypto exchanges.
How automated crypto trading works?
To use automate trading feature, one must have an online account on the crypto trading platform. Here you need to establish a trading bot, or you can use the already available bots, and select a trading strategy to use.
Once you have selected the crypto trading bot, it will buy and sell crypto assets for you based on your set parameters. Most automated crypto trading programs work as API. API trading bots work as an intermediary that trades for you on another exchange which you connect.
TrailingCrypto is an API that one can use for automated trading on popular exchanges like Binance, BitMex, Kraken, Coinbase Pro, and more. The most secured form of automated crypto trading is making use of crypto trading bots that operate on Blockchain technology.
A crypto trading bot functions as a broker that never rests. The bot works in executing crypto trades through one or more cryptocurrency exchanges. The first step involves a bot sending a trade to an application programming interface (API). Then, all the information related to the trade makes its way to a cryptocurrency exchange. It is actually the API that interacts with the exchange, and not the bot.
Automated trading gives you the ability to increase your trade volume easily. In addition, you may also benefit by the quicker identification of opportunities. The best crypto trading bots give you access to the best trading platforms which you can use as the best crypto trading terminal to implement your strategies.
Automated trading systems use algorithmic trading based on entry and exit rules predetermined by the trader. These systems can use fundamental technical indicators to build out their set of rules.
Let’s understand step by step, how to automate using a trading platform that works on your behalf in your exchange account:
- Step 1
Choose your preferred automated trading platform and create an account.
- Step 2
To automate your trading, firstly, you have to build a trading strategy.
- Step 3
Once after creating a strategy, validate it through heavy backtesting.
- Step 4
To be on a safer side, run your strategy in demo trading until you are confident enough.
- Step 5
Connect your preferred crypto exchange and start automating your trade. The platform will run your strategy day and night, without having to watch the market continuously.
Crypto trading bots are the great way to automate your trading so that you can get more time to focus on other things.
Signal crypto automation
The best crypto trading platforms also offer trading signals that lets you automate you trades. Crypto trading signals assist traders with getting in the cryptocurrency market. These signals offer precise data about the ongoing cryptocurrency market and let you understand about the market as well as cryptocurrency, by providing you with up-to-date market information about what’s going on in the market.
To minimize the losses, it is critical to choose the right cryptocurrency and trading platform to trade. The professionals use these signals to earn profits and make good trading decisions at the right time. For crypto trading, you need research and full-time dedication to earn profits. But, if you don’t have enough time to invest, considering crypto trading signals is the better option.
Different types of crypto trading signals come from different providers and mainly there are two types of signals available. These are:
- Paid crypto signals
- Free crypto signals
Automated crypto trading signals are generated by computer software that is programmed to identify potential trading opportunities. Signal crypto automation is getting huge popularity among traders due to the benefits of automating trades while you are busy in your other activities. There are a couple of reputable trading platforms which offer manual and automated trading signals for cryptocurrency. These signals are followed by the crypto traders and can be relayed in many forms including email, SMS, social media, and more.
TrailingCrypto signal crypto automation services are based on computerized interfaces studies of the market. The automated signals eliminate the contradictory effects of human psychology. These signals reduce the pain of analyzing the quality crypto assets along with higher profitable trade opportunities.
Advantages of using a crypto trading platform to automate trading strategies
There are several reasons why the expert crypto traders choose to go with the platform like TrailingCrypto. Using an automated crypto trading platform offers the following advantages to the traders:
- Optimized entry to the market: The cryptocurrency world is highly volatile and price fluctuations are much higher as compared to what any other trading market witness. Earning profits from this highly market requires extensive research and prior expertise. Automated trading platforms help traders to understand the market. TrailingCrypto helps novice traders to automate their trades via machine-learning driven strategies. In fact, the automated crypto trading platform is a perfect launchpad for the beginners with minimum risk involved.
- Diversification: In any trading market, diversification of assets and trading strategies is paramount to reduce trading risks. While manual trading requires much efforts and time to execute the trade along with focusing on a particular strategy at a time, automated trading strategies allow its traders to trade multiple strategies and accounts at a time. The advanced crypto trading platforms automate your trades and monitors market 24/7 on your behalf. They execute trades as and when there is a favorable change in the market conditions.
- Follow the best in market: The best automated trading platform let new traders copy the trading strategies and trades of the experienced traders. There are several approaches that a novice trader can learn from experts to minimize the major investment risks.
- Improves speed and monitoring abilities: The best trading platforms help prepare portfolios within a few clicks. They have the best crypto trading bots which are quick in responding to the changing market conditions. They generate trades almost instantaneously as soon as it meets the set trading rules. It also acts fast in entering and exiting the market. Additionally, it monitors the market 24×7 to help capture the exact amount of entry or exit.
- Preserving discipline: Once executed, automate trade executions follow a disciplined regime and negate the scope of emotions taking over the traders’ decision. When trading manually, the trader may fluctuate on his strategies depending on the emotional state. They may make wrong decisions in hope of making extra profits than estimated initially. Automated trading saves traders from such contingencies, which may hurt the trade.
- Help boost trading skills: The automated crypto trading platforms quickly test and validate or invalidate your trading strategies and find out what works best. This will also help traders to fine-tune their trading strategies.
When one should use crypto trading bots?
If you think that your trading strategy can beat the market, making use of crypto trading bots is the better option. The trading bot executes the trades for you based on the set algorithm. Another reason to use crypto trading bot is to diversify your crypto holdings in a more strategic way.
With crypto trading bot Binance lets you trade smartly. The bot analyses the changes in the price in market across all coins on Binance and place trades on the most volatile ones. It also keeps track of all the crypto coins bought, and then sell them according to the specified take profit and stop loss by the trader.
How to choose the best automated crypto trading platform?
Considering automated crypto trading gives the ability to increase your trade volume easily. In addition, you may also benefit by the quicker identification of opportunities. However, since there is no dearth of alternatives, various aspects require your attention.
- Does it offer an integrated trading platform?
Good crypto trading bots come in the form of complete packages, giving you access to the best trading platforms that you can use as terminals to implement your strategies. For example, you might choose to keep track of the market until it reaches to a favorable level by using a Trailing stop loss order. Alternatively, you might employ take-profit and stop-loss strategies at the same time. When going through your alternatives, consider limiting your search to bots that allow easy integration with popular trading exchanges such as BINANCE, BitMEX, and BITTREX.
- Will you get access to the trading signals?
Access to several trading signals is important, especially for someone who is not accustomed to using bots. This is because you may then look forward to receiving trading suggestions surrounding all the aspects such as when to buy or sell and at what price. Until not so long ago, manual trading signals were rather common. Now, automated trading bots and algorithms not only create trading signals, they send them automatically too.
- Does it allow backtesting?
It is important to choose an automated trading platform that allows backtesting. This way, you get to apply strategies based on historical price data. Once you start to get in trading, backtest every strategy you want to use before its actual implementation. However, you also need to remember that backtesting is only indicative of what might have taken place in the past, and you cannot use it as a definitive tool to predict the future.
- Is it secure?
This field comes with its share of wicked/tricky elements, which is why you need to pay due attention to security and reliability. If a service provider asks for withdrawals rights, you have good reason to be worried. In such a scenario, simply look at what others have to offer. The platform you select should ideally let you trade directly through your exchange, while it executes trade orders for you. This ensures that your cryptocurrency does not leave the exchange.
- Is it Cloud-Based?
Going the cloud-based way makes sense on multiple levels. For starters, server access is an aspect you don’t have to worry about. Updates tend to happen regularly, and they are easy to implement with cloud-based solutions. In addition, since all the information is online, you get to access it from just about anywhere.
TrailingCrypto – The best crypto trading platform to place trades automatically
There are many choices for crypto trading platforms where each platform operates very differently from each other. Each of them has its own set of benefits and drawbacks.
Choosing the right crypto trading bot also depends on the type of cryptocurrency you want to trade, what exchange you use, and your risk tolerance.
TrailingCrypto is one of the best automated crypto trading platforms that manage your entire crypto trading portfolio in one place. You can link all of the exchanges you use, your wallets, and manage your money without bouncing around the internet. It is an advanced crypto trading terminal built for professionals. Currently, the platform supports 10 plus crypto exchanges like Binance, Binance Futures, Coinex, Kraken, Bitstamp, Polenix, KuCoin, HitBTC, BitMEX, Bittrex, and more.
It also supports the basic, advanced and conditional order types like stop sell order, Tailing stop sell, Trailing limit sell, stop loss, OCO, OSO and more. TrailingCrypto trades on your behalf on your preferred exchanges as per your set strategies.