Automated trading can be a blessing for a trader if cooked right! But what is exactly “Automated Trading”? It is not as complicated and scary as it may sound. Automated trading is nothing more than giving a set of instructions to the computer, so you don’t need to monitor the market day and night anymore. The trading robots, or simply bots, will execute trades for you day and night following your direction regarding strategy and profit.
How Do I Start With Automated Trading?
The first thing to do is no different from a manual trader’s manual (pun intended) – creating a trading plan that you will follow from A to Z. Having decided on a strategy is the first step towards successful trade.
Start by defining how you will choose the pairs to trade and what is your desired profit on them. How will you act if the market conditions change? Always have the worst case scenario planned.
Now you have created your first bot. It will monitor the market for you. It takes the hardest part of keeping an eye on a market 24/7. Still there’s some work left for you. It is a good practice to check your bots at least once a day to see how they perform and if you may benefit from creating a new bot.
Things to Consider
Trading bot is just a piece of software that executes the trade the way you set it up. Some traders make substantial profits with automated trading. The key to a profitable bot is having a proven strategy and realistic settings and keeping an eye on the market.
There’s no such thing as the best strategy. Traders should set up the bots according to the market conditions taking into account current trend and potential reverses. A trader should always have an exit plan in case the trade goes south.
Automated trading can amplify your profit, but it can also increase your loss to a similar extent. Decide on the maximum volume the bot can trade on your behalf and don’t go over this sum.
TradeSanta: Automated Trading Solution
TradeSanta is a cloud software designed to automate cryptocurrency trading strategies. It combines the power of algorithmic trading with the friendliness of a modern software. It’s goal is to make automated trading as easy as possible for beginners, and as powerful as it can get for seasoned traders.
How does TradeSanta work?
Before setting up a bot, a new user has to connect an account on any supported exchanges via API keys. If you don’t have an account – don’t worry TradeSanta got your back! You may create an account on HitBTC exchange via TradeSanta interface when you set up a bot.
After this step is done, TradeSanta users can set up several bots that will follow the instructions specified by the user. Traders can use preset templates or create a bot from scratch using TradeSanta’s advanced tools such as Stop Loss or Trailing Take Profit.
- Long and short strategies. Set up a bot to receive maximum profit, no matter if the market is going up or down.
- Extra Orders. TradeSanta bots will place more orders if the market went into an unfavourable direction,so that you the price to receive the profit would go down
- Grid and DCA strategies. You may set up a bot that takes a profit one time for all orders placed, or separately for each order. You may choose the former or the latter strategy depending on marker conditions and your trading preferences
- Advanced tools. TradeSanta provides experienced traders with the tools they might benefit from: Stop Loss and Trailing Stop Loss, Trailing Take Profit and many more
- Technical signals. Set up a bot that will start a trade when it receives an appropriate signal from one of the indicators available on TradeSanta.
- Extensive documentation. TradeSanta provides you with countless youtube videos and technical documentation so that you can take the most out of automated trading and TradeSanta service.
How’s TradeSanta Different From Other Market players?
There are admittedly more automated services you can explore like 3Commas and CryptoHopper. An automated trading service typically provides you with a documentation or tutorial to help you get on board.
Here is how TradeSanta manages to stay on top of crypto bots services:
- User-friendly yet powerful interface. Both beginner and experienced traders will find everything they need to automate their trades
- Community. TradeSanta traders are very active in the official Telegram chat and will give you a hand when it comes to creating an optimal strategy. Some traders even went as far as creating local communities.
- Constant features delivery. TradeSanta is always listening to the community’s suggestions and always tries to bring new tools for its subscribers.
Get on board of automated trading and start you free trial with the most user-friendly trading bot TradeSanta