There is a lot of online exchanges where you can trade cryptocurrencies, most of them allow you to perform basic actions like buy, sell, withdraw. With volatility of Bitcoin prices in the recent days you are probably worried that your assets may lose some value over night (you're probably not worried if you get rich:P). Today we will talk about Smarter Way for trading, you will find out how to automate your day trading strategies or secure your funds on the exchange while sleeping.
Why Bitcoin market is different from stock?
Bitcoin market is global and uncontrolled. It means that trade happens 24 hours a day 7 days a week and no one can stop it! Unlike normal stock which can be (and quite often is) stopped during unexpected events. On 11th September 2011 to prevent a stock market meltdown, the New York Stock Exchange (NYSE) and the Nasdaq did not open for trading at all! With Bitcoin if there is any chaos happening around it's impact is much bigger because no one can stop the trade. This main difference causes volatility of the cryptocurrency prices which can happen on a daily basis.
This gives you an opportunity to earn a lot within short period of time, or lose a lot in a same way. You main concern is that you cannot sit 24h a day in front of your computer to control the situation. That's why I am introducing you this great service called cryptotrader.org
How can I take advantage of this?
Cryptotrader allows you to connect to few major websites where you can trade cryptocurrency and set up a set of rules regarding your desired trading strategy. If you have already tried day trading then you'll definitely know what to do with it, if not don't worry! On the forum you can find many tested strategies which has been already tested by users and proved to work!
Why is trading bot better than me?
No one said it's! But it has a lot of advantages.
- It never sleeps - it doesn't matter if it's day or night, your trading bot will always look at the current exchange rate and make sure that in case of any sudden crash will save your money and in case of sudden rise will buy assets to make some profits.
- It can analyze more data within seconds - we will never be as efficient as machines, sometimes to make a decision about the trade we need to take a look at a bigger scope rather than just current price. Bot can handle that for us without any problems.
- It's decisions are not based on emotions - sometimes you can say it's disadvantage but most of the times you'll find it a great advantage of the trading bot. With cryptocurrency market price can be very volatile and vulnerable for temporary manipulations. During sudden crash we are keen to make fast decisions and then regret them. Trading bot is always calm and stick to the rules.
- Trading bot is much faster - it take few minutes for you to log in and trade and it only takes seconds to be done by trading bot. It is extremely important if you aim to earn on sudden crashes or sudden rises.
You can learn from history!
Everyone knows that history likes to be repeated and we shouldn't live in the past but we should definitely learn from it. That's what cryptotrader.org allows you to do! Whenever you set up new trading strategy you test backtest it to see how it would perform in the past! This is a great indicator of it's worth. You can analyze it day by day. This is extremely important because in trade you will never have every day closed with profit. Sometimes you take loses, sometimes you gain, the most important part is to gain a lot more than you've lost! Cryptotrader.org allows you to check how your strategy would perform in the past, what would be your loses, profits using this strategy without interfering and based on that you can make a decision if you want to proceed with auto trading or not :)
Another Smarter Way of earning money
Cryptotrader.org has been tested by me and proved to be worth it's value. When you do the same you can take advantage of their affiliate marketing offer and earn money! You will be awarded 10% from their Referral Commission. Even if you are not interested in trading you are still welcome to discover their services and advertise it to other people. It is beneficial to both parts and that's why I highly recommend it.