on the crypto
The space of online forex trading is very difficult to decipher. Not only do you need to have the ability to read and understand historical price trends - as well as interpreting how fundamental news can affect a particular currency - but you also need to know how to deal with your conclusions to lower investment risk.
If you are not an expert investor and do not have too much time to devote to online trading, it may be worth considering the services of an AI trading bot as Bitcoin system. Listed below are 5 key reasons why an AI bot can take your forex trading career to the next level.
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Trade several currency pairs without ever losing sight of them
Often the most successful traders active in the online forex arena are those who employ a limited number of forex pairs. This allows them to specialize in specific currencies. This applies in all industrial sectors and not only for forex. However, however effective the strategy may be, you may actually miss out on a lot of trading opportunities.
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Trade 24/7
A well-programmed automated robot can buy and sell currencies 24 hours a day. This goes beyond the possibilities when trading manually. For example, let's say you are based in Italy, but want to exchange USD / JPY during normal market hours in the United States. You could make this choice because you prefer to trade currency pairs when the market volume is at its maximum, or simply because the spreads are more competitive in certain hours. Using an AI trading bot, you can access any time zone you want - 24/7!
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Human emotions are dangerous in trading
A novice trader could attempt to chase his losses by increasing his stake - something that is a no-absolute in any investment arena. Basically, an AI trading bot is programmed to follow predefined conditions, which means it will never attempt to place trades outside of its algorithmic parameters. Therefore, you will never have to worry again about the negative effects of human emotions in trading.
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Use proven trading strategies on your own
One of the best things about AI trading robots is that you can customize their programming. This includes the times of entry and exit, the size of the exchanges and what technical parameters should be based. For example, if your "secret move" involves trading AUD / USD when trading volumes are low and volatility levels are high, you can program your bot to exactly follow this strategy.
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AI trading robots can help technical research
Robots can also be used only as a support in research. More specifically, trading robots are also effective in scanning markets in order to alert you when a potential trading opportunity is underway. This would be extremely beneficial for those who wish to perform operations manually, but would like assistance in carrying out the technical analysis.
