Trading Robots – What Are They??
Machines have replaced humans in many ways. A live example of this is the trading robots in the financial market. Earlier, traders used to stay awake day and night to track the market changes so that they can adjust the investment according to the market trends. As the technology improved over the years, traders slowly started to trust the trading software that could track, calculate the market strategies in order to give the best investment results. Lately, trading robots have been gaining more importance in the market because of its accuracy in predicting the market phenomena, trade strategies etc. This also builds trust traders/users as they ensure to provide best results.
There are millions of users trading in cryptocurrency market now. Increase in users has led to the creation of many trading robots (bots) each being unique in its feature. A trading bot is a software program connected directly to financial exchange to monitor the market fluctuations, calculate trend analysis, analyze market strategies, price movements etc. They not only provide market information but also perform trade on behalf of the users. Here are the highlights of some trading bots used in the market today.
- Haasbot: This is one of the most popular Bitcoin trading bots in the market today. Haasbot is known for its candlestick pattern recognition. It integrates with major exchanges and eliminates the amount of legwork to a certain extent. The price of this bot starts from .073 BTC (monthly subscription).
- Gunbot: This connects to more than six different exchanges and designed to provide eight different trading strategies. Its price range from .002 BTC to 0.15 BTC based on the term of use and requirement.
- 3. Cryptohopper: A Cloud-based bot that can monitor trade even when the user’s system is off. An additional feature of this bot includes backtesting, trailing stop loss. The price of this bot starts from USD19 (per month)
- CryptoVIPclub: This is a recently developed auto-trading crypto robot. They are designed to read the current statistics in the crypto market and develop an algorithm based on the readings to predict next rise of cryptocurrency. Here is the full report on why this trading bot is reliable for your investment.
- Gekko: This is a free trading bot available mainly for the beginners to this market. Gekko calculates indicators, perform the trade, monitors price data for best trade results. However, the functionality of this trading bot is limited as compared to other bots. Hence, this is recommended for beginners.
- CryptoTrader: This is again a cloud-based platform. Apart from evaluating trading strategies, this bot acts as a marketplace that permits users to buy or sell trading strategies. The price starts at 0.0013 BTC per month.