How Can Auto Trading Software Help You Boost Profits?
Auto trading strategies have allowed traders to take out all the emotion while ensuring trade execution. In fact, various platforms report that 70% to 80% or more of stocks traded on US exchanges come from automated trading systems. Using the auto trading tool, you can pre define parameters for upcoming trades, allocate capital, and open or close positions while keeping your distance from your computer. In order to show you the benefits of automated crypto trading, we will refer to one of the best software on the market – BitBotApp.
The benefits of automated trading software
BitBotApp is a crypto automated trading system – also known as robots, algorithmic, or auto trading software – that allows traders to establish specific rules for upcoming trade entries and exits, which, once preprogrammed, can be executed automatically through a computer.
Traders also can set exit and entry points for their trading positions and then let the computers take over. The automated software can search for crypto assets that meet the criteria and execute trades based on pre-established parameters.
Some of the advantages of using BitBotApp or similar software are evident. Manual trading limits the number of stocks or currencies that can be monitored at any given time.
On the other hand, computers can examine different markets and securities at a speed incomprehensible to manual traders. Algorithms spot a reversal and can perform a trade in a matter of a second.
BitBotApp offers excellent opportunities for diversification since this platform boasts more than 15000 altcoins available for trading.
The different types of algorithmic trading
There are several types of trading robots. Algorithmic trading is a very vast world and includes a whole range of possibilities.
The simplest trading robots will only execute basic strategies, such as sending several orders to the market simultaneously at different limits with protection orders attached.
This is a huge time saver when trading in high-volatility markets.
More advanced robots also exist, which sometimes require advanced programming and allow you to set up complete entry and exit strategies on the markets without any intervention on your part.
Finally, there are very advanced robots, made up of hundreds of coding pages, very powerful servers, and capable of passing thousands of orders per second. These are most often used by specialist traders from large investment banks (high-frequency trading).
Specifically BitBotApp, it’s a relatively new tool on the market. Hence, the tool represents the enhanced version of all auto trading tools on the market. All the bugs and glitches in the system you might have encountered in other trading tools, here are eliminated. More than half a million users of BitBotApp testify about its efficiency, security, and level of accuracy in making trading decisions.
Finally, what to pay attention to while choosing your trading bot? First and foremost, verify the testimonials of currency and previous users. Make sure the software offers professional and agile client support. And don’t forget to read all the terms and conditions before opening your trading account to avoid unnecessary adversities and ruin your trading experience.