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Online trading, especially cryptocurrencies, has been getting in the limelight recently. Many have tried their luck in online trading financial markets and created a lucrative trading business thanks to automated trading platforms. But what are these platforms, what auto trading really represents, and how to know if the platform is good for your trading business? These are the questions we will tackle in this article.
What Is Auto Trading?
As its name points out, automated trading comprises performing trades automatically with the assistance of robots specialized for different markets. This method of trading requires the usage of an electronic platform.
These platforms’ algorithms take into account the myriad aspects of the trading process without the trader having to intervene. The program takes care of placing the orders. And most importantly, it operates even when your laptop is off.
Forex and crypto markets are some of the world’s largest and most volatile. There are several options if you want to trade them in automated mode. In that aim, automated trading followers usually use two approaches.
You pay fees for each transaction, or you must subscribe to software with trading features adapted to your broker’s site. The latter is a platform programmed and installed by a computer programmer.
What Are Automated Trading Platforms?
These are the websites you can register on to take advantage of the platform or third party’s automated trading software. It can also be separate auto trading software you can buy monthly or yearly to pre-program the system for the sake of optimization of your trading business.
In both cases, the trading bots are working for you, and there is no need for constant monitoring of the trading process and the market movements in real time. The algorithm is working for you.
Why Should You Use an Automated Trading Platform?
Auto trading is for you if you are just at the beginning of your trading adventure but are not sure of your ability to implement the best strategies. Even if you are a professional, this method of trading can give you more leverage to succeed in the markets.
Generally, using an auto trading platform spares the time you can use for other activities during the day. The prerequisite is to set basic parameters such as stop loss, take profit, and let the magic work for you.
Besides the standard auto trading platforms, there are also auto trading apps such as Biti Codes IO, which allow you to get free cryptos, like BTC and Dogecoin, for instance. Download the app, try solving the captchas, and wait for rewards to fill your wallet.
What Are the Best Auto Trading Platforms Today?
The answer to this question is not easy since the market is saturated with the offer. However, the most popular are Meta Trader, Dupli Trade, and TradingView. These platforms have high accuracy and success rate, great testimonials by the users, exquisite customer support, and a user-friendly interface. Whatever your choice, maybe make sure to try out every platform in a demo mode before investing the first amount of money.