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May 11, 2021, 05:47:36 PM |
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The volatility of BTC (plus of course a few other cryptos) makes it a very attractive asset for traders, this is due to the fact that enormous gains can be realized from the price swings. It is, however, very difficult for traders to generate good returns in the crypto market due to either - lack of experience, lack of enough time, emotions etc. As a result, we have seen the rise of crypto signals as one way of beating the market. We have also witnessed an increasing use of crypto trading bots. Such bots are designed to help traders follow crypto signals and execute more precise trades.
I believe that using crypto trading bots together with other risk management tools can eliminate some of these drawbacks out of the trading strategy, making it easier for traders to execute trades based on data and trends. Well, there are many pros and cons of using trading bots, but either way, they still are be pretty profitable to use.
I have come across a wide variety of trading bots for example TrueP&L or as some people call it True PNL - a social crypto trading platform that aims at democratizing trading activities. The analytical tools and statistics available on True PNL allows investors to make more informed decisions when copying trades, while traders receive passive income from their strategies. Its professional analytical tools makes my trading pretty transparent and approachable.
In this regard, what are your favourite trading bots? What you are currently using? What would you recommend?
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