2024-06-21
Blockchain Global News

This crypto trading bot empowers users to seize market opportunities

A leading provider of automated crypto trading bots allows newcomers to emulate experienced traders and their best trading strategies.

Presented by TradeSanta

After a tumultuous 2022, the crypto markets are once again on the rise, with the leading cryptocurrency Bitcoin BTC $26,894 trading more than 85% above its 52-week lows. The renewed momentum and attractive price points are enticing short-term and swing traders to take new positions. However, with volatility still prevalent in the crypto markets, choosing the best time to enter a trade can be a daunting challenge for novice traders. While most traders follow the simple idea of buying low and selling high, finding the right entry point involves understanding the current news flow and using technical analysis indicators that are best suited to one’s trading style.

While there are many technical indicators that can be used while trading, they fall into one of four types: trend indicator, momentum indicator, volatility indicator and volume indicator. Knowing how to use at least one indicator within each category is useful for traders looking to spot a trade and make an optimal entry. In addition, it’s important to keep up with all the news surrounding crypto markets in general, looking for events such as regulatory changes, cryptocurrency bans, hard forks or any other news that can trigger rapid price movements one way or another. Typically, the ideal entry point for a trade is near the support or resistance level for a given time period, and it is advisable to identify these areas in order to make better trading decisions.

So, for traders who want to go long on a particular cryptocurrency, they need to use a trend indicator like the Moving Average Convergence Divergence, also called the MACD, to identify a trend reversal, and select an entry point near the support trendline using a volatility indicator like Bollinger Bands. This process requires a lot of backtesting and patience, along with a lot of experience. Unsurprisingly, most traders end up either misinterpreting technical indicators or are simply not disciplined enough to hold or exit a trade, based on the price movement of the underlying asset. Alternatively, traders can use TradeSanta’s all-in-one cryptocurrency trading platform, which gives them access to trading bots that can be set up on top crypto exchanges. Once traders choose a trading pair for a TradeSanta bot, they can set up one of the signals based on MACD, RSI, Bollinger Bands, TradingView Screener, and Custom TradingView Signals to determine entry and exit points for each trade. TradeSanta’s free trading terminal also offers users the convenience of managing all their crypto portfolios from a single interface, and even allows them to emulate experienced traders and their best trading strategies.

Source: TradeSanta

Advertisement

Join Investors Demo Day hosted by Cipholio, Cointelegraph & Animoca Brands on 31st May

Source: TradeSanta

Moreover, with more than 6,000 crypto assets available on the cryptocurrency market today, TradeSanta provides quick access to the best cryptocurrency pairs to trade and allows users to set up their own custom trading bot to trade them. Even novice traders can unlock the power of automation with TradeSanta’s crypto trading bot and set simple or trailing take profit targets, with automatic execution at the right time. To minimize risks in unfavorable trading situations, users can set a stop loss or trailing stop loss to their trades, with the additional option of selecting TradingView stop signals for each bot.

Source: TradeSanta

Source: TradeSanta

TradeSanta has partnered with centralized exchanges like Binance, Huobi, Bybit, Coinbase, OKX and Kraken, giving its users access to optimal-performing trading pairs across all the supported exchanges at a glance. What’s more, TradeSanta’s Telegram channel provides daily market overview updates empowering traders with the latest market information, while its Twitter allows newcomers to exchange ideas with other traders. With a simple registration process, TradeSanta has made crypto trading easier for its users, helping them maximize their results without the hassle of having to monitor their trading 24/7.

Learn more about TradeSanta

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain in this sponsored article, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.

Source : Cointelegraph.com