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Trader's Assistant – Trading Bot

Trader's Assistant – Trading Bot

The traditional stock market has been around for a long time. During its existence, traders and investors came up with a large number of different trading strategies. Some of them are still in use today. We can see the same picture in the cryptocurrency market today. It has long been known that a large portion of what the crypto industry has today has been taken from traditional markets. Thanks to this, trading bots have emerged in the crypto sphere as well.

Trading bot

In the early seventies, the world was first introduced to trading robots. Of course, at that time they were far from perfect.  The first examples of trading bots were rather primitive. In fact, they were only good for reacting to changes in the price of an asset. When the price changed sharply, there was a signal to let the trader know to act. However, that was the end of all functionality of trading bots of that time. This meant that a person still had to be constantly at the monitor. There was no question of autonomy or automated trading.

The situation was exacerbated by the fact that traders could not understand whether it was legal to use this software. Especially as in theory it helps them to make a profit. Many of them, therefore, refused to use any kind of assistant.

This misunderstanding lasted until the late nineties. At that time, the Securities and Exchange Commission (SEC) officially approved the use of trading robots. This gave new life to the bots, as well as the developers, who began to work harder to improve future trading assistants.

Progress did not stand still and every year the bots became more and more complicated, and their algorithms are more varied. They gradually began to get improved configurations.

What is a trading bot? Technically speaking, it is software that deals with financial exchanges. The robot makes its own decisions on trades, whether to open or close a position. However, it strictly follows the predetermined strategy and configuration that the trader has put into it. Typically, the trading bot analyzes market actions such as volume, orders, price, and time. All the settings that the trading bot has, each trader configure as he likes.

Trading bots in the crypto market

Trading bots have moved from traditional markets to cryptocurrency markets. So why are they so popular and what makes traders trust them with their assets?

The answer lies in how easy they are to use and automate commerce.

The convenience is that each bot's settings are easy to understand, but if you don't want to do that, you can always buy a ready-made bot. RevenueBot, for example, offers a comprehensive knowledge base for its users, where each step-by-step guide on how to create and run a trading bot is explained. The service also has its own marketplace, where you can sell or buy a ready-made bot, with a selected trading strategy. The marketplace offers the services of tutors, who can provide advice to any newbies who need help.

In addition, bot creation is free and there are no hidden fees. You will have to pay the service 20% only from successful trades, but no more than 50 USD per month.

Considering all of the above, it is clear that trading bots are the best assistant to a trader. You can create a bot for both the spot and futures markets.

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