In late October, Bitcoin (BTC) broke through a strong resistance level and continued to climb until it reached the psychological level of $35,000, the highest level in 16 months.
This is good news for active crypto traders who have been waiting for the long-awaited bull run since late 2021. However, this does not mean that it will now be easy to trade. The cryptozyme market as a whole has been struggling for the past few years, with cryptozyme prices dropping by over $1 trillion and the market forming horizontal channels that lasted for several months.
Source: TradingView
The biggest challenges of trading cryptocurrencies
Active crypto traders today face many challenges that stand out compared to fiat currencies, stocks or commodities.
One problem is volatility. The cryptocurrency market is still immature and can move unpredictably, making trading difficult.
Another problem is complexity. The cryptocurrency market is constantly growing and there is always something to learn. For example, cryptocurrency owners are now encouraged to explore decentralized finance (DeFi), improve performance to Tier 2, or move their crypto assets between different blockchains.
Finally, security concerns and price manipulation also pose challenges for crypto traders. Stay away from vulnerable signs such as b. You need to develop many skills such as research skills, risk management skills, and technical analysis skills.
How do auto trading tools make trading easier?
Crypto traders who try to do everything themselves can now find themselves out of business. Real automated marketing tools make the job much easier.
These automatic trading tools do not increase your profits by using secret tricks or manipulating the market. Their main effect is to eliminate emotional stress and negativity that leads to the loss of most positions.
Crypto traders who attempt to manage their portfolios and trade manually may find themselves lost today. However, true automatic trading tools make trading much easier by reducing stress and negative emotions, eliminating manual tasks, and allowing traders to monitor all crypto markets and portfolios at once.
AI-powered tools cannot replace algorithmic trading platforms
Today, algorithmic trading tools are more sophisticated than artificial intelligence (AI) trading platforms. First, algorithmic trading is more transparent and predictable. Algorithmic trading platforms use predefined rules and metrics to make trading decisions, meaning traders can see exactly how their trades are performing. On the other hand, AI platforms are often black boxes that prevent traders from understanding how to execute their trades.
Second, algorithmic trading platforms are more flexible and customizable. Traders can easily customize the rules and settings of their trading strategies based on their individual needs and risk appetite. On the other hand, AI platforms are often flexible and customizable, and traders may be limited to a predefined set of trading strategies.
Third, trading is a complex and dynamic activity that requires human judgment and control. Each trader has their own risk tolerance and trading goals, and delegating trading decisions entirely to an AI-based tool would be unwise.
Tradesanta is a cloud-based trading platform for beginners and professionals to automate trading processes. It does not replace the human decision-making process, but complements and improves it.
For example, TradeSanta can be programmed to monitor the market and close open positions, applying the best algorithm to maximize your profit margin and time-to-profit settings. To reduce risks, the trading robot provides stop loss, trailing stop loss and TradingView stop signals. Traders can program advanced traders to mimic trading robots, allowing them to access talented minds with just a few clicks.
Traders can use the TradeSanta trading terminal to manage their portfolios across multiple exchanges through a single interface. This saves them time and effort and helps them make better business decisions because all their data is in one place.
Additionally, TradeSanta's automated trading tool can be integrated with many crypto platforms via API, including Binance, Coinbase Pro, OKX, HitBTC, HTX, Kraken, and Bybit, among others.
Source: CommerceSanta
Tradesanta offers a unique user interface that is easy to use and accessible from PC and mobile devices. Additionally, users can easily create their own trading bots that can be used for spot and futures trading.
Automated trading tools help cryptocurrency traders overcome many of their challenges. By automating trading processes, reducing sentiment, and providing trade signals and alerts, TradeSanta helps traders make informed decisions and effectively navigate the dynamic and complex cryptocurrency market.
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