Although automated trading certainly does brings plenty of benefits to the table, it is by no means an infallible solution.
An experienced trader will know that market moves in a random pattern. A bot that is configured for a particular market phase, such as a consolidation phase, will most likely fall short if the market starts to swing up or down. When such a change in market trajectory occurs, a trader will need to prepare another bot that captures the new market movement.
Hence, to many new traders, configuring a crypto trading bot can be a daunting task. There are just so many parameters and variables to understand before one can proceed to configure the bot effectively. Even the world’s largest quant funds have been defeated by market forces, let alone new traders.
So, does this mean that a crypto trading bot is not even suitable for new traders? Not at all. A good crypto trading bot provider will make it easy for a new trader to understand how a bot works and hide the complexities. In addition, the provision of a bots marketplace greatly helps new trader to simply use the bots configured by experienced traders.
A crypto trading bot is definitely a crypto trader’s best friend and through hard work, a trader can improve his or her performances by leaps and bounds.
