Experienced quantitative traders take years to develop algorithms that trade the markets. However, many of us just do not have the time to do this. But, if there exists a tool that allows a trader to jump right into automated trading easily, wouldn’t it be a godsend?
One of the main advantage of automated trading allows a trader to implement an objective and emotionless trading strategy refined by numerous back testing.
Anyone can use a crypto trading bot software like CryptoHero to build a strategy in under a minute. CryptoHero does not require any coding in order to implement automated trading strategies.
Let us use the Relative Strength Index or RSI as it is commonly called. Usually, the best time to buy a stock is when the RSI level falls below the common level of 30. Conversely, the best time to sell a stock is when the RSI crosses the upper 70 line.
CryptoHero’s Simple bot allows a trader to execute the above strategy easily. Simply choose the coin to trade, set the amount of funds and finally select RSI as the entry and exit conditions. That’s it!