Auto-Trader Feature for Crypto Purchases

avikz

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Quote from: Henri Cartier on November 06, 2019, 06:50:49 AM

Recently, I read an article where an Australian crypto exchange Independent Reserve has introduced the "AutoTrader" feature for its clients to purchase their crypocurrencies automatically. This feature will allow customers to set automated rules and strategies for trading cryptocurrency. Also, it includes scheduled bank transfers, which would allow customers to dollar cost average (DCA) their cryptocurrency purchases.

Quote from: CEO of Independent Reserve

“Autotrader allows users to buy smaller parcels of cryptocurrency at regular intervals, for example daily or weekly or monthly. This limits their exposure to price fluctuations, especially compared to customers that may enter the market in a large way, and then see the market move against them,” the CEO stated.

My question: If we use AutoTrading feature, will it really benefit us? Anyone who is using that feature can share your experience here?

This auto trading feature is not something new. A lot of stock brokers offer such rule based auto ttader in stock market. This exchabge is probably the first one to offer in crypto market. It's definitely beneficial because it works based on few set of rules. Let me give you an example,

You set a rule to buy bitcoin when the price comes down to $8800 and funded your account accordingly. So the autotrader will obey the rule. Now you can set another rule to sell off your bitcoins once the market price goes up to $9500. Similarly auto trader will execute the order. This actually eliminates the need of continuously looking at the charts and provides user convenience!

It's definitely beneficial only if you know how to use it!

hugeblack

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Quote from: Henri Cartier on November 06, 2019, 06:50:49 AM

My question: If we use AutoTrading feature, will it really benefit us? Anyone who is using that feature can share your experience here?

I see no benefit, it contributes to the introduction of more people to invest in cryptocurrencies without any investment advice, just buying in stages does not mean that you will make gains or avoid losses.
Also, these companies can manipulate, where they buy coins in time and then sell them to customers at those specific times while exploiting the price difference.
It doesn't matter when you buy but how you earn at all times.

nelson4lov

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Top Crypto Casino

Quote from: Henri Cartier on November 06, 2019, 06:50:49 AM

~Snipped
My question: If we use AutoTrading feature, will it really benefit us? Anyone who is using that feature can share your experience here?

The Autotrading feature would be essentially useful especially if one knows how to use them like setting strategies and standards etc. For instance, The dollar cost average feature can keep rebalancing clients account but hey, that feature works great only if the user in question has funds to support it. On the other hand, It'll be extremely helpful to have an auto trade trade turn on to automatically set a 5-10% stop loss on your trades and a 5-40% Trailing stop as well.

Darooghe

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It's Super fun if you are into dorking around, but to see returns you have to be comfortably profitable already and be familiar with different strategies. the conditions for profitability are moving targets so bot trading isn't really a 'set it and forget it' type of operation. It's about deploying different bots for different market conditions and being comfortable making adjustments.

I run bots, but also, and more importantly, a run a set of semi-automated tools that aren't quite bots, but make my life MUCH easier. For instance, suppose I want to execute a limit order without paying the taker fee. Like many others, I have a program that will dynamically reprice my order to ensure it's at the top of the book. Just using this has saved me thousands, both in taker fees and being on the good side of the spread. That program is not a bot per se, but is a potentially fundamental part of any bot. Every toolkit starts somewhere.

zeze18

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Quote from: Henri Cartier on November 06, 2019, 06:50:49 AM

Recently, I read an article where an Australian crypto exchange Independent Reserve has introduced the "AutoTrader" feature for its clients to purchase their crypocurrencies automatically. This feature will allow customers to set automated rules and strategies for trading cryptocurrency. Also, it includes scheduled bank transfers, which would allow customers to dollar cost average (DCA) their cryptocurrency purchases.

Quote from: CEO of Independent Reserve

“Autotrader allows users to buy smaller parcels of cryptocurrency at regular intervals, for example daily or weekly or monthly. This limits their exposure to price fluctuations, especially compared to customers that may enter the market in a large way, and then see the market move against them,” the CEO stated.

My question: If we use AutoTrading feature, will it really benefit us? Anyone who is using that feature can share your experience here?

By using autotrade feature this mean we're not monitoring our trades and just same as investing. So rather than using this autotrade which the profits is not sure yet, why just holding a coin for long time investment and we don't have to worry about the result of our trades. Or we can invest in stocks or other clear investment that can give passive income rather than using this feature. But it's up to the people, maybe if the bots can make a big profits in everytrades it could be worth to buy

MURONDI

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Quote from: Henri Cartier on November 06, 2019, 06:50:49 AM

My question: If we use AutoTrading feature, will it really benefit us? Anyone who is using that feature can share your experience here?

the use of bots can be beneficial but can also cause loss, it all depends on the situation and conditions, before using you must first understand about the bot that you are using, You should practice it before actually using it, You can use with a small capital first.

Henri Cartier

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Recently, I read an article where an Australian crypto exchange Independent Reserve has introduced the "AutoTrader" feature for its clients to purchase their crypocurrencies automatically. This feature will allow customers to set automated rules and strategies for trading cryptocurrency. Also, it includes scheduled bank transfers, which would allow customers to dollar cost average (DCA) their cryptocurrency purchases.

Quote from: CEO of Independent Reserve

“Autotrader allows users to buy smaller parcels of cryptocurrency at regular intervals, for example daily or weekly or monthly. This limits their exposure to price fluctuations, especially compared to customers that may enter the market in a large way, and then see the market move against them,” the CEO stated.

My question: If we use AutoTrading feature, will it really benefit us? Anyone who is using that feature can share your experience here?

Topic: Auto-Trader Feature for Crypto Purchases (Read 116 times)