Why Automated Bot Trading is a Must?

An automated bot trading can in general make it easy for traders to adopt existing strategy or build their own without coding, and then backtest the strategy and apply it automatically to trade 24/7. Some may doubt about bot trading, so let’s see the reasons why automated bot trading is a must

Avoid Emotions

As bots stick to the rules set, your trading result will not be affected by your emotions. As we may make false decision to buy just because we see the price is surging and become greedy, or we may keep the crypto because we are hoping the price to jump up back, something like that. The bots are very good for avoiding effect of emotions on the trading performance

Highly Predictable Results

With backtesting you may check whether the strategy generate profit if you have had applied it in the past, therefore you can be more confident of its future performance. It can save you lots of time by testing the result for months with demo account , and gives more accurancy. To do this you may use a bot from Haasonline, which enables you to build strategy by drag-and-drop and backtest on cryptos’ historical data without coding.

Faster Order Placing

As bots are running automatically according to rules, the order can be placed as soon as the preset criterias are met.It is essential for cryptocurrency as the market moves super fast, sometimes it is hard to stop loss at the price you want( maybe you just click 1 sec late) then just feel desperate to see the price keep dropping.You may need bots for better risk management.

Multi-Platform Trading

Multi-platform trading requires attention on various platforms, bots can trade on them fast at same time. You may question why it is needed to trade in many platforms, well because inter-exchange arbitrage can be very profitable. Or even if you are not interested in that, multi-platform trading can help to spread the risk, because who knows maybe one day one crypto exchange will bankrupt. So ideally it is better to seperate your funds in the top crypto exchanges just in case.

Ready-to-use Strategies

When doing a manual trading, you may need to learn and think a lot how to trade, only to find out that you end up losing money anyway. With bots you can simply copy the strategies that proven to work and let it run and wait for profit. Yes you did not hear it wrong, with 3Commas bot you can copy the bots that are profitable in the past(you can check the profitability rate in history), then apply it straight away. It cannot guarantee the profit but gives a high chance of winning and it is good for beginners.

There are other reasons why it is a must, but I think the most important is that artificial intelligence is the trend and future, it is the best weapon for us to survive in the increasingly competitive crypto market. You may also check out the technical indicators you can apply easily on bot to increase your win rate.