Financial markets are very complex and it is not easy to control them – especially without dedicating the time and regular effort to them. In recent years, along with changing markets and technological breakthroughs, advanced and intelligent trading systems have emerged. This is how automatic trading developed, which is gaining in popularity.
In this article, we will introduce you to this type of trading in detail. We will show you how to auto trade and what are the best free auto trading robots and software for doing it. Finally, we will tell you about the importance and the risks of automatic trading.
How to do algorithmic trading?
Long before we introduce you to automatic trading, we will introduce you to the procedure for doing automatic trading. The easiest way, especially for a beginner, is actually to automatically trade on a
Choose a broker to auto trade (Many traders recommend the Bitcoin Trader)
Open a trading account
Configure the platform
Let the robot trade for you
Let’s now look at the steps to follow to start automatic trading with the powerful Bitcoin Trader platform.
How to do automatic trading? Beginner tutorial
Auto trading has become so much of a strategy used by traders that we have chosen to walk you through how to auto trade before going into the other details.
Follow these steps well and you will know how to auto trade.
Step 1: Choose a broker to auto trade
Like traditional trading, in order to auto trade, you must first and foremost choose an online broker. You must make sure that this broker can offer auto trading functionality. Because not all brokers offer automatic trading services.
You should also ask yourself the right questions before choosing a broker for automatic trading. For example, ask yourself:
Is the broker regulated? Does it automatically trade the assets of your choice?
Does the broker offer a demo account for training?
Does it have responsive customer service?
For the choice of broker, we recommend Bitcoin Trader. As we will see below, it meets the criteria mentioned above and is suitable for traders of all skill levels.
Step 2: Open a Bitcoin Trader account
To open a Bitcoin Trader trading account, you need to download the software or go to their site.
To open a Bitcoin Trader trading account, you need to download the app or go to the site to complete the registration process. You will enter your name, an email and your password and your phone number.
Step 3: Deposit funds
Once you have created your account you will need $ 250 to make the minimum deposit. This can be done by wire transfer, or by debiting the chosen amount from your credit or debit card.
The deposit is your trading capital, which will be used to fund your trading transactions on the Bitcoin Trader platform.
Step 4: Configure the algorithmic trading platform
Before carrying out the trades, you must configure the trading parameters. These include, among others:
The currency you want to trade in
The amount of your investment
Your take profit
Your stop loss
Maximum daily trades
These parameters will dictate how your investments will be conducted in automatic trading.
Step 5: Let the trading bot trade for you
After setting these parameters, you can let the robot trade for you.
Note that you can change the settings any time you want.
1 – Bitcoin trader: best for automatic Bitcoin trading
Topping our list is Bitcoin Trader. It is a crypto-robot that trades for you (automated trading). It takes the hassle out of a manual cryptocurrency brokerage solution and allows people to automatically trade their Bitcoins.
Created by Gary Roberts in 2017, it allows users to learn bitcoin trading and generate massive profits. In just two years, he became number 1 in the American trading association.
According to this software, if you trade on Bitcoin Trader, the trading signals give you an assumed return of around 88%.
Bitcoin Trader only requires a working browser and an internet connection. So any browser like Safari for iOS or Chrome for either of the two would work fine. However, it is not available on PlayStore and AppStore
Benefits of auto trading on Bitcoin Trader
- Works with regulated brokers
- Registering with Bitcoin Trader takes less than a minute
- It is very easy to make deposits on Bitcoin Trader, a variety of payment methods are available to you
- Bitcoin Trader has received a lot of positive feedback from online users demonstrating the accuracy of the software
- Withdrawals are usually processed within 24 hours
algorithmic trading: the risks to know
Automatic trading also involves risks. Traders should take these risks into account before choosing the auto trading strategy. Here are some of the risks inherent in auto trading.
The risk of over-optimization
Too much optimization kills optimization. Indeed, the search for a near perfect trading strategy can lead users to constantly adjust and change settings.
On paper, during back-testing, you can produce a 100% profitable trade that never goes down. But in reality, live runs risk producing unwanted results leading to total strategy failure. This is a trap to be aware of and to know how to avoid.
The possibility of anomalies
Automating your trading doesn’t mean you don’t control it from time to time. The technology of automatic trading relies heavily on resources like the internet and the proper functioning of servers.
However, these factors are prone to anomalies such as natural or man-made internet failures, inability to understand irrational markets, etc. In such a case, there is a possibility of suffering financial loss.
The programming differences
There could be a mismatch between the “notional trades” generated by the strategy and the component of the order entry platform that turns them into actual trades.
Most traders should expect a learning curve when developing automated trading systems, and it is generally a good idea to start with small trades or conduct “paper trades” while the process is in progress. refined.
Dependence on orders or risk reduction strategies
With automatic trading, replacing manual market surveillance by placing certain orders (for example, “stop-loss” or “stop-limit” orders) that aim to limit losses to certain amounts may not be effective, because market conditions may make it impossible to execute these orders.
A risk of scam
Finally, you should also be aware that in the automatic trading market, not all platforms are worthy of your trust. Indeed, some trading sites are pure scams, with fraudulent auto trading software. So be sure to do your research before committing to an auto trading broker.
Do not hesitate to go on the blacklist of the Autorité des Marchés Financiers (AMF), which identifies all the trading platforms to be avoided because they are fraudulent and unregulated. This list is free and updated regularly on the website of this organization.
Auto trading, for whom?
Whether you are a beginner trader or an experienced investor, you have free access to automatic trading. To be honest, the use of this trading solution does not require any training in the matter. We then deduce that it is ideal for novice traders.
Moreover, automatic trading gives pride of place to part-time traders. This means that you can go about other things in peace. You just have to configure the bot trading and you’re good to go. You will only come back to check the results.
For example, using Bitcoin Trader, you will only have 20 minutes to spend trading each day.
frequently asked Questions about algorithmic trading
What is automatic trading software?
Auto trading software is a sophisticated trading platform. It uses computer algorithms to monitor the markets under certain conditions.
Where to start for automatic trading?
You must first choose a broker to auto trade. Then you open a trading account. You deposit the minimum deposit amount. You open an automatic trading account, and finally you let the robot trade for you.
Why do auto trading?
There are many advantages to this type of trading. For example, by doing auto trading, you will no longer have to trade under the influence of stress or emotions. Also, trading robots can improve the speed of transactions.
What are the risks of auto trading?
There are two big main risks in auto trading. On the one hand, risk of over optimization and programming discrepancies. On the other, the concern related to the scams that exist on the market.
What is the best platform for auto trading
A large number of platforms can qualify as good for auto trading. That said, Bitcoin trader is among the best thanks to its ease of use and regulation with regulated brokers.