Pure Creativity :: The Artists' Ward :: The Gallery :: Benefits of cryptobots. - View Topic
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| Junior Member  Posts: 30 Joined: Class: unclassed Points: 150 Reputation: 0 | | Benefits of cryptobots. (23rd Mar 22 at 9:08am UTC) | | Using bots has several key benefits for traders. Bots allow you to interact with the crypto market without having to constantly monitor its state, and the right bot not only saves time, but also protects you from the constant stress associated with trading cryptocurrencies. Among other advantages of automated trading in digital currencies, crypto market players also note:
Rapid response: since the crypto market operates 24/7/365, no trader will be able to respond in a timely manner to all changes occurring on it. As for bots, they work non-stop and instantly react to any news and changes. The cryptobot will trade according to the algorithm embedded in its code, even when the trader himself is unavailable.
Lack of human factor: the use of trading bots eliminates human error, since all decisions are made within the framework of a pre-formulated strategy. This advantage also eliminates the possibility of "emotional trading" - cases where traders make transactions, guided by their emotions.
Trade Diversification: The vast selection of crypto assets and trading platforms available to traders is impossible to cover alone. However, when using several bots running under different crypto-exchanges, the trader increases the coverage of his trading several times.
Strategy backtesting: with the help of cryptobots, a trader can conduct a backtest - checking the reliability of a trading strategy. The cryptobot will conduct a detailed analysis of the strategy, considering what results it would have shown in the previous period of time. To do this, the bot uses past market data to assess the potential level of income and possible risks, which, in turn, will allow the trader to check the effectiveness of the chosen trading plan. | |
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Junior Member Posts: 34 Joined: Class: unclassed Points: 170 Reputation: 0 | | Re: Benefits of cryptobots. (23rd Mar 22 at 2:33pm UTC) | | | Are any of you now, like me, making a profit by trading cryptocurrency through a bitcoin robot? How did you achieve this, I'm talking about how long it took you to get used to all the nuances and pitfalls of this business. Personally, it took me about a year for the profit to be able to cover the losses from unsuccessful trades. Maybe it's because I configured it incorrectly before, or the reason is different. | |
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