In this article, we explore why a typical trader will need a crypto trading bot in order to take better advantage of the crypto markets.
Crypto Never Sleeps
All of us want to buy at a low and sell at a high. In the world of securities where markets operate during office hours, this endeavour is highly possible. But, when it comes to the crypto market which operates round the clock, it becomes humanly impossible to stay at your trading screen 24/7.
This is where a crypto trading bot comes into play. CryptoHero is a cloud-based crypto trading bot platform. It runs all the users’ bots on its servers on a 24/7 basis. Many times, a crypto market may experience a flash crash while the users are asleep. With CryptoHero, the bots continually monitor the market and will capture this “flash-crash” opportunity.
Emotionless
The FOMO (fear of missing out) effect often causes users to chase a token which has rallied substantially. Or when a token price keeps depreciating, the user holds out hoping for a recovery. While emotions sometimes can be a boon, in the world of trading, it mostly work against the trading objectivity of the user or trader.
Experienced traders know that the market “walks in a random path”. There is no certainty as to when a rally will continue and similarly, there is no certainty when a rebound will occur. A crypto trading bot takes away this “weak” link and trades objectively based on market indicators. The aim is not to win all the time, but to win a majority of the time. The aim is not to maximise profits for every trade but to have some profits for most trades. This is the ethos of many successful traders and only a crypto trading bot can separate the human emotions from real trading.
One Bot to Rule Them All
With a crypto trading bot platform, it is now possible to monitor tens, if not hundreds, of digital assets and take advantage of any price dislocation in any of them. Using a crypto trading bot software like CryptoHero, a user can setup multiple bots to monitor many tokens that, humanly speaking, will be impossible to manage.
In summary, a crypto trading bot is an essential tool for any crypto trader and investor. Choosing a right crypto trading bot software like CryptoHero, is very important.
