To use or not to use? Kraken trading bot still requires some trading skills for high efficiency
What is the best Kraken trading bot? Select the one with most complete features to bring proven strategies to life. It is very important to resort to tools that undergo constant development and continue to improve. Enhancement of features helps users much as software is constantly adjusted to serve needs of people.
What features are necessary for Kraken trading bot, even if it’s free? Kraken Bitcoin bot tracks the situation on the market and decreases losses with help of special script. The biggest advantage of Kraken trading bot developed on Python or other system: it helps you earn funds even when you sleep. The developers of such tools can find the code on Github and improve Kraken trading bot to better adjust it to the requirements of the particular user.
Just imagine how you wake up in the morning to find out about the surprise awaiting you!
There are, certainly, some negative reviews of automatic tools created for work on financial markets. Usually they have bad reputation but such attitude is unfair. Their assistance is irreplaceable. Their use should be wise to be effective. What exactly do they do to help you earn? The procedure is simple enough and sometimes works perfectly. Script is not subjected to change of mood or emotions – the factors that are often in the way of the right decision. These software programs do not need rest and follow each little detail in order to see the situation clearly. There are certain algorithms working to your advantage. However, it is still impossible to calculate all the situations therefore some mistakes are inevitable.
The reviews on trading bots tell us about the winners thanks to such approach. Some traders have earned a fortune using it.
Usually, the strategy applied does not include breakthrough tactics. Nevertheless, this is often more efficient than constant manual control. Whether you want it or not, you skip some details and, consequently, miss the right moment when you need to enter the trades to either sell or purchase the assets. In general, machine bases upon the analysis regarding simultaneously different parameters. It calculates the best possible outcome under the conditions available at the particular moment. But still there are factors the machines are not aware about. For instance, bots are unable to consider the rumors circulating.
EMA is an important parameter for numerous instruments. The reaction takes place when prices change and speed of these changes is of particular importance. In case it goes above or lower definite threshold, the trading bot acts in accordance with settings established by individual. The one can select either hourly or daily periods depending upon the goals set. Some people behave in a more aggressive manner and are prone to risk while others prefer a safe bet not trying to earn a fortune within a short period of time. More reasonable strategy pays back as a rule, but you see the result in the long term. Unstable processes require different approach therefore cryptocurrency environment needs specially developed or specially adjusted tools.
When instrument relies on technical analysis, this is hardly called a strategy. It just follows technical indicators before making decisions. Some adjustment of the instrument is necessary to give instructions to the bot on how to make these decisions. It goes in compliance with trading style of the personality. When custom indicators are developed by some traders, new instruments with their secret approach appear on the market. Some bots are used individually by the developers, others are shared with the public. Only highly experienced trader with advanced technical knowledge can program such script and turn it into effective instrument.
The types of trading bots available (on the principle of use):
• Predictive algorithm
• Reactive algorithm
• Algorithm including elements of predictive and reactive approach
Which of these algorithms are more effective? It depends upon the situation on the market. So one needs to understand when to employ the particular instrument. It requires a skill to determine the correct time.
Responsiveness of the trading instrument plays a big role taking into account huge volatility of the market. No matter where you trade: Alcurex, Negociecoins, Cryptonit, Coincorneror some other cryptocurrency exchange, all these places are exposed to big volatility of Bitcoin and other digital coins affected by the market of digital cash. Kraken bot should not necessarily be used on Kraken alone. The same principles are applied at other marketplaces as well. The bot gives you the possibility to stay active round-the-clock and get decent results even when you are away. At this, the person is not protected against bad decisions. It is up to you if you are going to automate your trades. But do not forget the most important rule in trading: use only money you can afford to lose.
What is Kraken trading bot ➀ ➁ ➂ 👍 -
average rating 5 from 5
(based on 67 user reviews)