Considering that the U.S. Stock Exchange executes the ¾ parts of their transactions through automated trading system, it is demonstrated that these platforms can be practical for users who don’t have time to analyze the market, since the previously scheduled bot will complete the buy or sell orders once they have reached the conditions scheduled for trading.
So, what is an automated trading system? this allows traders to create moves related to the entry and exit of transactions for the user. These platforms can be based on simple matrices such as crossover or complex matrices which would require programming knowledge.
For example, a trader might go to sleep with a very high value of his holdings and, when he wakes up from sleep, might discover that his holdings have been significantly devalued. Cryptocurrency trading bots are a type of software that is linked to financial exchanges and can work 24 hours per day, ensuring the trader constant monitoring of the status of their holdings. In addition, a bot trading in cryptocurrencies can trade much faster and more efficiently than a merchant would do it.
How do they work? The cryptocurrency trading bot will make decisions for the user based on predefined criteria, such as current orders, market volume, the price at the time, also they can be configured to be more complex.
The great increase in the popularity of cryptocurrencies has allowed a rapid increase in the number of cryptocurrency trading bots that are available on the market. Some of these bots are free and open-source, while others are purchased by users from specialized companies in exchange for fees.
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