Make Passive Income with Free Automated Trading Bots Using Coinrule
Updated: Mar 10, 2021
Gone are the days when trading was done on stock market floors by shouting brokers. The digitization of stock market trading has evolved over decades. Cryptocurrency is the next step in that evolution, having dynamically changed the horizons of trading. While the volatility and complexity of crypto remains a challenge for most retail investors, institutional investors relish it as it offers an opportunity to collect profits especially when using trading bots, like the ones offered by Coinrule.
Thanks to online platforms like Coinrule, automated trading bots no longer have to be an alien concept for retail investors like you and me. With its easy-to-understand approach and accessibility, Coinrule has made automated bot trading a whole lot simpler. Their programmed algorithms can now perform hundreds of trade orders in a single day that would otherwise be impossible using traditional methods of trading. I can't think of a better way to make easy money.
How Automated Trading Works?
Trading strategies and market analyses remain the same with any trading system, whether it's automated or traditional. However, the accuracy and precision with an automated trading system is significantly better. The biggest difference between the two systems is that although traditional trading utilizes the power of digital and programming tools for technical analysis, the decisions are performed manually. An automated system integrates the power of Artificial Intelligence and Machine Learning through algorithms. It involves automatic order execution through predefined trading strategies, thereby minimizing human interference.
Large financial institutes like banks, insurance firms, and hedge funds could afford advanced technology. It enabled them to consistently outperform retail investors using automated systems that could make orders thousands of times a day for small profits that compound (scalping). With Coinrule and other platforms, we all have a chance to make these trades. Not just with scalping, but other trading strategies too- like swing trading, MACD, Mean Reversion, and much more. You can also program the bots to take advantage of Ask-Bid spreads or even arbitrage between exchanges. These orders can be made in milliseconds.
Algo Trading with Coinrule
As an investor, you should always remember the basic investment rule of the risk-reward correlation. While volatility in crypto offers opportunity, it can also endanger your investment-- mostly because investors are human. An unseasoned investor may get emotional, thereby selling too early or buying too late. Humans need sleep and may miss a swing trade opportunity in the middle of the night. By using an automated trading bot on Coinrule, investors can repeatedly execute strategy without passion. Rain or shine. Day or night.
What sets Coinrule apart from other platforms is the intuitive and user-friendly interface. After you sign up on Coinrule--
1) You first connect your account to whatever exchange you are using. In my case, that would be Binance.
2) Then you find your API Key on the exchange. On Binance, you can find the API Key in the profile section where it says "API Management."
3) Input your API Key into Coinrule. This will allow Coinrule's bots to connect with your exchange account.
4) Lastly, choose your trading bot by the strategy you'd like to implement.
Make Money with Free Bots on Coinrule
Selecting the right strategy is the most important step in creating your bot with Coinrule.
On their easy to use interface, you select strategies based on “If This - Then That” logic algorithms. It enables you to manage the portfolio more efficiently and widens the trade options. No need to rush though, you can back-test the selected trade strategy on past data to see how it works for you. You can even set order limits, and stop order commands.
Here's some of the trading strategies available in their FREE plan:
1) Portfolio Take Profit With Exception
2) Portfolio Stop Loss and Re-buy
3) Portfolio Take Profit And Re-buy
4) Buy The Breakout
5) Sell The Drawdown
As a reminder, do your due diligence. The risks with automated trading remain the same as with traditional trading. Although you don’t need any coding knowledge with Coinrule, you’ll have to select the trading strategy according to your risk appetite and risk tolerance. Learning about trading strategies goes beyond the scope of this post. I recommend visiting Investopedia.org to grain knowledge on investing.
#coinrule #automatedtradingbots #tradingbots #automatedtrading