Topic: Bots question (Read 58 times)
I use a bot on my exchange because it makes it easy for you to trade and you don't need to watch it all the time. the safest bot is the regular bot that buys low and sells high. I use usdt as my base against the coin that I would like to trade but you can use another crypto as a base for your exchange, for example, you like ETH and BTC and you don't know who will dominate you can pair ETH against BTC, this is my strategy in using a trading bot I'm not an expert but this method works for me
If you assign a bot to your platform do you have to use two coins it buys and sells between, or can it buy and sell one as the price fluctuates?
I think you can program the bot to buy as per an algorithm. However you will need to provide the starting capital, in terms of fiat deposits or crypto deposits to allow it to trade.Usually staying on one pair of assets is done but this depends on choice of the trader. It is best if you analyze charts and see which ones you want to focus onto and predict are going to move a lot in the market. Day traders are running bots mainly buy/selling a specific pair, but I dont have experience not interest in bot-mediated trading so you should research more on this yourself.
If you assign a bot to your platform do you have to use two coins it buys and sells between, or can it buy and sell one as the price fluctuates?
That's what really bots are. You only have to assign them with certain prices you want to buy and to sell. And knowing the feature of the bot that you're about to use is what you must do. Most bots have the same feature but some of them have their own unique feature. cmiiw.
It entirely depends on your strategy and how you set up your bot but i think both approaches can work on a number of bots. I have never used many bots for trading though. I think I used a couple of them for testing purposes but the gains seemed too small for me to subscribe for one.
If you assign a bot to your platform do you have to use two coins it buys and sells between, or can it buy and sell one as the price fluctuates?
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