Fullerton
In the past during the 50s, robots were promised to ease your daily tasks. Today, 70 years later, cyber bots promise same for daily traders. Well, yes you have bundles of codes which can help you earn a passive income, even if you are the laziest trader. But it is just a hype and profiting from trading robots is that simple.
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You have different kinds of cryptocurrency trading software and trading bots accessible online which include arbitrage bots which earn profits in the prices across exchange. For instance, the price of BTC is different from one exchange to another.
So, if exchange 1 has a slightly lower price in comparison to exchange 2, then the bot will break an order and buy it from exchange 1 and sell it on exchange 2. This way your trading robot works by profiting from the delay it takes for prices to update on different trading platforms.
Are trading bots really profitable?
In order to earn any kind of tangible profits with bot trading, you need to have stack of crypto to begin with. If you own a BTC arb bot, for instance, then you need to deposit BTC on several exchanges which are linked to your bot via API.
And, even with a healthy spread of BTC, the returns will be minimal. Traders claim to earn money via bot arbitrage using market inefficiencies. However, it is recommended that you should have good knowledge of trading and using automated systems before opting for this.
If you are good in setting your trading robots, then you may make a living out of it, but you need to have a good practice first.
It is securer to state that the best trading robots are the ones you may have never heard about and they will never be offered to you. Because if all the traders will choose to use the same bots, the trading edge they have will be wiped out.
So, if you are looking forward to put a trading robot to test, then you should try it with some shitcoins or satoshis. Don’t go for those bots that offer guaranteed returns and be sceptical of the profits which crypto traders claim to have made with the help of their bots.
Even if you come across a system which offers modest returns such as Crypto Comeback Pro , you may need to question yourself first: What will you like to do- get a bot which turns your 5BTC to 5.1 every week or have the independence to use your 5 BTC in simple day trading? Well, bots can help you a lot, but they cannot deal with fundamental analysis, sudden news, insider knowledge and other aspects which gives the market its movement.
Just like the housewives still wait for a chore-performing robot to handle their household work, similarly the crypto traders still wait for something that can help them win this battle. So, if you really don’t have a perfect personalized bot for you, it is rather suggested that you do it yourself.
