What is a Crypto Scalping Bot?
Many investors enjoy trading cryptocurrencies due to the dynamic as well as unstable nature of the market. This kind of trading may yield considerably more earnings than traditional trading formats such as trading stocks if the market can be timed accurately.
Scalpers mostly profit from the carelessness of the market. Yet, scalping trading techniques require increasing the number of transactions to reap a benefit. Scalpers examine past trends and volume levels before specifying exit or entrance points within a day.
To create a gain in this way as a newbie, take a look at the following in this guide.
What is Scalping?
Scalping is one of the significantly beneficial, but again, very stressful ways to trade cryptocurrencies. The scalping dealings can’t last longer than several hours. Sometimes it is just a number of minutes, occasionally even seconds.
Scalpers tend to get fast out of position. They also aim for a profit of a maximum of a few percent. For this reason, scalp traders can only see the real benefits if they make at least multiple transactions each day.
This type of trading ought to use extensive leverage, and it requests a wide technical study knowledge. Due to the market’s unpredictability, the most advantageous way is using a bot for crypto scalping.
Without it, we would have had to waste hours in front of the computer and couldn’t avoid the anxiety it causes.
How to Earn Money from Scalp Trading?
Individuals who prefer this style may do it manually or automate it by using some automated systems. Those techniques allow them to trade even when they’re not in front of the computers.
Scalpers who don’t trade automatically must be detail-oriented with analytical skills and a clear exit strategy. One extensive loss could destroy numerous slight earnings the trader worked to get. Worst of all, manual traders must stay attached to their chairs to avoid missing a good deal or falling into a non-profitable position.
Cryptographic scalping bots follow strict instructions within the plan, allowing users to operate robotic systems to decrease the risk.
Best Crypto Scalping Bots
Now, after making you conscious of the dynamic of this system, let’s talk about some automated platforms that may make scalping easier for you:
This is a highly practical scalping bot currently in use in the crypto industry. There’s no cost to use the software. The site offers users admission to 16 free trading bots to assist them in trading digital currencies.
Additionally, it gives useful assets and support to enable users to get the maximum out of their trading experience.
A previous sense of automatic or crypto trading isn’t required. All you have to do for getting started is to activate their bot tools.
Bitsgap is one more excellent bot that gives automated algorithms for optimizing your trading. It also makes the risks of loss almost not possible.
If scalping is something new for you, there’s the demo option which lets you pick up how this style operates and how to cut the losses.
Unlike Pionex, Bitsgap isn’t free, and the prices start at $24 per month. Here are the pricing plans including their special features.
Read the thorough Bitsgap review on our site.
Coinrule states that an automated cryptocurrency trading system like theirs makes automated trading easy.
Using Coinrule, you are able to start trading free of cost. Here you can see the rest of the plans, their prices, and features.
On Coinrule, it is possible to set your trading rules. You may also access 150 templates that give plenty of techniques, including scalping.
Haasbot is, as they state, the world’s most evolved automated crypto trade bot. You can choose from an expansive spectrum of pre-made bots, but if you use HaasScript, you can also make your own.
Even though advanced traders use this crypto trading bot platform mostly, it has a user-friendly interface that makes it suitable for newbies who want to learn how to use tools such as Haasbot.
Their vision is to help you profit from all transactions to achieve a stable, long-lasting net profit.
What sets this scalping bot apart from others is the fact that you pay the pricing plans with Bitcoin.
Since Cryptohopper presents three unique scalping methods, it can promote itself as the most suitable bot for scalping.
Here are those three strategies:
- Momentum Trend Scalper – The mixture of momentum and trend signals can do great things. It attempts to buy when the general market has a dip and momentum is back in its favor.
- Pure Trend Scalping – This technique involves using trend-following signals on numerous time frames.
- Volatile Trend Scalper – Involves employing the MESA to define the movement of the trend.
Cryptohopper offers a free plan, the same as three paid plans with their unique features.