Too busy to trade? Try out BTSE’s new trading bot feature! We offer eight different types of trading bots and enable users to customize their own bots, with no coding skills required.
What Are Trading Bots?
Trading bots are software programs that connect to exchanges via an API and execute trades on behalf of users. They react on behalf of trading indicators and strategies that are configured by users and can weave in and out of positions efficiently.
Oftentimes, trading bots can remove the emotional element of trading and prevent users from making mistakes based on impulse. If customized properly, they can also help traders take profits at the right times.
For beginners, we recommend trying Quick Start, Simple, and Dollar Cost Averaging (DCA) bots. Here’s a breakdown of our bots and what they can do for you.
BTSE Trading Bots
|Quick Start||Quick Start bot is the simplest and most beginner-friendly bot on BTSE. It follows a pre-determined long-biased strategy where the bot purchases an asset at multiple time intervals. Users only need to decide how much funds to allocate to this bot.|
|Simple||The Simple bot allows you to pick a long or short strategy to get started. You’ll need to determine your desired entry and exit conditions.|
|Advanced||With the Advanced bot, you can customize and program your trades to respond to technical indicators. This bot is favored by advanced traders.|
|DCA||The DCA bot follows a dollar-cost-averaging strategy and enables investors to build a position in a certain asset at preset intervals over time. This strategy is designed to mitigate the risks of short-term price fluctuations.|
|Exit||Once set up, the Exit bot will enter a position immediately and exit the position once certain market conditions are met.|
|Price||The Price bot allows you to buy and sell cryptocurrencies at designated price levels.|
|Grid||The Grid bot allows you to set up a grid to buy and sell assets at certain price intervals. It works best in markets that are trending sideways and when assets are bouncing within a certain price range.|
|Sell||You can use the Sell bot to ensure that your pre-existing positions will be exited when certain market conditions are met.|
|Simulated Mode||You can test different strategies with our simulated trading mode before using real capital.|
|Rapid Backtesting||The backtesting feature enables you to backtest your strategies with historical market data, so you can better understand how your bots will perform.|
|Technical Indicators||You can track and monitor market indicators such as Bollinger Bands, MACD, RSI, EMA, and more.|
To access this new feature, simply go to btse.com and find [Trading Bot] under the [Trade] tab in the top left corner of the page. Please note that this feature can only be accessed through BTSE’s desktop interface.
Our aim is to create a platform that offers users the most enjoyable trading experience. If you have any feedback, please reach out to us at email@example.com or on Twitter @BTSE_Official.
Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.