Do you use Bot for Crypto Trading ?
I keep on reading various articles about technology and cryptocurrencies because learning is important and this is the only way that keeps us growing in terms of knowledge that help us grow in life.
These days when market prices are up and the almost free coin is moving upwards and turning from red to green is a good reason for traders to be happy.
Trading is a way to make money but it's quite risky if a person does not have knowledge about the market and how to trade safely but if you have good knowledge then for sure you can make a good amount of money through trading. there are many YouTubers who share their strategy of trading and I think it would learn that however, it's always important to do our own research before putting money on the market. there is a lot of content available on YouTube these days to learn about cryptocurrencies and various methods to trade on the crypto market.
one of the interesting things that I got to know about that now traders have started using the bot for their trades and it's making their task so easy and even more profitable. people who are quite good in technical analysis and have a nice knowledge about the market and trading are switching to this method of trading through the bot.
Cryptocurrency trading bots are computer programs that automatically buy and sell various cryptocurrencies at the right time with the goal of generating a profit.
I do not trade much and I just trade in very few coins sometimes if I have time otherwise I'm a long-time holder. I just buy and hold for the long. When it is in profit and meets my goals then I sell it off so buying and selling every day is something that I don’t do much.
But I like the concept of bought trading and this is quite a new thing for me. maybe I'm late to know about it but that's OK because now I am going to learn more about it and will try to understand how it works and how it makes trading easy and less risky.
It's important to note here that not every bot is profitable, in fact, most aren't. So, Ideally, the bots actually generate a profit, and ideally, that profit is greater in risk-adjusted terms than had you have just bought the same coins and held them throughout.
So now I got a topic to learn and explore more about it. I am not sure how much it will help me but for knowledge, its good and I find it interesting.
I will share more about it later once I go through deep in detail s.
Thank you so much.
Hello @alukkumar121
I have known about these trading bots for some time, however, I have not used them. A few days ago they are reviewing the option of a trading bot but in Forex, which is the market in which I am working, with cryptocurrencies I do the same as you, I just keep them for a time that allows me to say, I think they are at a good price to move them to a stable currency and that does not devalue.
Anyway, I will keep an eye on your next posts.
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Trading is a really risky, I do not know quite much about trading but I am sure that using bots might not really be a good option most of the time, our instinct does a better job.
this may be right.. I want to see how it works and that's why giving it a try. thanks.
I am not in the trading business. When I trade I do it out of necessity. I'm more of a loiterer. However, it seems to be a good tool to use. It and combine it with intuition and technical knowledge already acquired.
Thanks for bringing us this post.