They actively monitor exchanges around the clock and will react in accordance to whatever predetermined criteria they have been programmed with.
#Trading autobot software#
Trading bots are software programs that use API’s to interact with financial exchanges. Trading bots help to automate the process and thereby relieving pressure on companies and traders. Such bots have been used by companies to set buy/sell commodities on global stock exchanges for decades. The solution to this problem is the trading bot.
While investors who are in for the long term might not worry about taking advantage of such fluctuations, cryptocurrency traders can make huge amounts of money from such volatility. Bitcoin prices can and have dropped by as much as 25% in a day. Trading in cryptocurrencies is particularly addictive because the market is highly volatile. Even the most dedicated trader will not want to spend their entire life staring at cryptocurrency price charts either. The problem with any commodity in the global marketplace is traders cannot be at their station 24 hours a day, 7 days a week.Īpple co-founder and tech guru Steve Wozniak recently admitted that he had sold his entire holdings of bitcoin because he had grown tired of constantly looking to see what the price was. Since the beginning of the cryptocurrency boom that started in early 2017, people all around the world have been clamoring to trade in bitcoin and other altcoins.
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