Coins by P2PCOIN

P2PCOIN Bot – Traded Futures

P2PCOIN Bot-traded futures

What’s different about using a bot to trade futures?

They allow you to gain exposure to the crypto markets 24 hours a day, seven days a week.

One of the biggest complaints that traders normally have is how they are constantly stuck in front of their screens.

The world of cryptocurrencies never stops, and the market can make big moves at any time… irrespective of whether it’s a Wednesday afternoon or at 3am on a Sunday. This makes it inevitable that sleep-starved traders will miss out on opportunities sometimes.

Trading bots can be the solution here. They allow experienced professionals to set their desired parameters for entering and exiting positions — eliminating the need for them to be in front of their computer nonstop. It also makes it easier for traders to execute multiple orders at the same time.

This technology is also popular in the spot market, where it can be advantageous for forex traders as well as cryptocurrency specialists.

Are there any top tips for successful trading?

Remember that you need to constantly analyze how the markets are moving.

When you’re using a bot to trade futures, you can’t set everything up and forget about it for days on end. Trading bots are designed to enhance the experience, but aren’t a substitute for good old-fashioned human involvement.

Traders who use bots are typically recommended to check their positions at least once a day, as well as how the market is performing. That way, they’ll be able to use their judgement to make tweaks to their strategies. It’s also essential to set stop-loss orders above liquidation prices.

Many trading bot providers offer tools that make it easier for traders to keep track of sudden, significant developments in the markets. For example, some deliver Telegram notifications when action is needed, and mobile apps so strategies can be accessed on the move.

What are the biggest risks traders need to be aware of?

Futures trading, especially with margin, is riskier than spot trading.

Although bots can have their uses, traders need to be aware that — if the markets aren’t acting as they anticipated — their positions can be liquidated a lot faster if leverage is being used.

These cutting-edge solutions also can’t make decisions on which contracts to trade, meaning that you’ll need to play your role.

If you use a particular exchange for futures trading, you’ll need to find a trading bot provider that offers compatibility through an API. And last but by no means least, you should check these computer programs are fast and reliable. A malfunction at an inconvenient time could cause sizable losses and significant amounts of frustration.

You can continue reading this article at: Cointelegraph