Bitcoin and the Auto Trading Robots

Bitcoin and the Auto Trading Robots

Bitcoin is a unique financial vehicle, something totally different from what has been there in the past. It is basically a crypto-currency, because it uses cryptography to create and control money. There is usually no physical money to talk of in this kind of trade because the money traded by traders is usually in electronic form. Traders can send or receive bitcoins. To do this, you will need an email address and internet access. You must be online long enough for the transaction process to be completed and in order to determine when to buy or sell Bitcoins.

However, many Bitcoin traders have no time to stay in front of their computers the whole day, which is why trading robots are becoming very popular in the Bitcoin world.  A lot of people that trade Bitcoin are those that are looking for a way to generate passive income. Some have regular day jobs and other responsibilities that take much of their time. They only have little time to trade, which is why they rely on trading robots. Fortunately, there are many trading robots that have been designed to trade Bitcoin. It only becomes a challenge when choosing one that you can fully trust. Here are some of the robots to look out for:

1. GEKKO

This is an open source trading software that is mainly found on the GitHub platform. The program is actively developed as a way to provide newer and better features to its users. It is a very easy to use software, therefore using it will be very straightforward especially for beginners. It comes with some basic strategies to help users get started too. It is not a high frequency system, therefore may not be the best to use if you want to exploit extreme opportunities.

2. ZENBOT

Here is another open source trading platform for Bitcoin traders. It is available as a download for the user to access it. Users are free to modify its code to suit what they prefer to use. The software is very intelligent, therefore can be used for high frequency trading. It is capable of supporting more than one asset at the same time. The problem is that it is not as updated as regularly as it should be.

3. HAASBOT

This is a very popular trading software among many Bitcoin traders. It is designed in such a way that it does all the trading work on behalf of the user. The program supports all the major exchanges to allow its users to trade more on different types of assets. It can be quite costly though, therefore you have to use it more, with a lot of commitment to ensure that you are making more profits from it.

4. TRADEWAVE

This is a trading platform that allows its users to create automated trading strategies for use in their Bitcoin trading. It is therefore not a robot like all the others. The platform can be connected to all the major exchanges in order to enable the trader to trade live in just a few minutes. The platform is a community too, where traders share ideas and trading strategies that users can try out to see how they work for them. It is not free; therefore, you should maximize your profits to make it worth your use.

Trading robots are meant to make your work easier and at the same time ensure that you are watching the markets every minute of the day, even when you are physically not there. They are therefore, a great way to trade Bitcoins for better returns.

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6 Must Have Forex Trading Resources

6 Must Have Forex Trading Resources

There are so many helpful products and services that are available these days, which can be of great help to any forex trader out there. The forex market is expanding and forex trading is gaining popularity by the day. For this reason, a large online marketplace of services as well as products has emerged, to make things even easier for forex traders. Third party trading platforms have eliminated the need for some of these resources though and the advancement in technology has brought so many changes and upgrades to most of them. Here are the most important trading resources you should be looking out for:

1. Blogs and Forums

These are sites on the internet which offer forex link lists as well as products, services, tools and learning articles, all about forex trading. There are also those that provide reviews about brokers. Platforms are there too and they bring traders together, providing a platform through which they can communicate on several issues pertaining to trading. If you spend a good amount of time on the internet, you cannot miss out on some of these sites and forums to help you become a better trader.

2. Forex advisory services

You will need as much advice as you can get once you start trading in the forex market, which is why this is a great resource to have. Luckily, there are advisory newsletters that are available online these days that can help you so much along the way. There are basically two types of forex advisory services; the general or long-term advice and the short-term signal services. Independent traders will do very well with the former type of advisory service.

3. Educational resources

Education is key, which is why these are important resources before you even start trading in the forex market. Some of these resources come as complete courses that are meant to educate potential traders on all aspects of forex trading. Once these are mastered, you can now supplement with the education experience offered by broker-dealers in form of tutorials and live webcasts on their trading platforms. With all this information, you can now try it out on a demo account for better practice before the actual trading.

4. Forex management tools

There are many forex trading tools that traders should be aware of, which can help a lot in their day to day trading. There is an Option for instance, a risk management tool, which is meant to protect the trader from any kinds of downturns in the currency market. This tool is also very helpful in case of a positive currency shift.

5. Broker-dealer’s reviews

Broker-dealers are very important when it comes to forex trading. This is because they provide the platform that will help you trade. There are so many such firms in the industry today, with each of them promising the best of service. This can be quite confusing especially to a first-time trader, which is why such resources such as broker-dealer reviews are important. These should help you understand these firms better to decide the one to deal with.

6. Forex news and calendars

News is everything to a forex trader. Broker-dealers know this too well, that is why most of them offer news and announcement services in their trading platforms. What traders need to do is to watch and understand the news first, and then wait to see how the market reacts to such kinds of news. Then you will understand trend indications for such types of news.

There are so many benefits to enjoy when you have important trading resources close at all times. This is what can make your forex trading a success.

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