The cryptocurrency market is notorious for its extreme volatility. Unlike traditional markets, the crypto world never sleeps, and keeping track of it requires being online literally 24/7. However, not everyone wants to be chained to his or her computer or smartphone in order to make a decent purchase in a timely manner, not to mention the mental exhaustion and stress. So, what are your options if you really want to remove an emotional component from trading decisions and take advantage of the crypto market’s volatility without turning it into a full-time job? Start using TradeSanta’s crypto trading bot!
What is TradeSanta?
TradeSanta is an automated trading platform providing tools to execute different trading strategies without constant monitoring of the market. It’s been operating since 2018, and it provides video tutorials and extensive documentation for smooth onboarding into automated trading. That is the reason why TradeSanta is a great choice for those who have never been using trading bots but are willing to start doing that now.
TradeSanta is especially beloved by thousands of traders worldwide thanks to its friendly user interface and its customer support that is always available to answer any questions you might have before diving into the crypto trading world.
How it works. Tools and strategies
Before you begin using a crypto trading bot, you must connect your exchange account from the list of those that are supported to TradeSanta using API keys. TradeSanta supports Binance, Binance.US, Huobi, Okex, HitBTC and Coinbase Pro. When you’re done, you must choose a trading pair and strategy. Thanks to TradeSanta’s features, you can also set different parameters like risk management tools or deal start and stop signals and trade like a pro. Let’s take a quick look at what TradeSanta has to offer!
- Risk management tools, including stop loss, trailing stop loss and trailing take profit
- Wide choice of signals to enter and stop the deal at the best time
- Both futures and spot trading are available
- Grid and DCA strategies, plus you can run long and short strategies at the same time
- Trading terminal that allows placing orders on multiple exchanges
- Demo trading to test the strategy against the real market conditions without investing real funds
- Real-time tracking and telegram notifications to know what your bots are doing
TradeSanta is also available on your smartphone. The mobile app for iOS and Android can help you to manage bots on the go.
The mobile app has all of the same capabilities as the full-fledged version, including profit tracking and analytics, managing and creating new bots with advanced features and more.
A few things to consider before you start
Trading bots can be extremely helpful in your crypto trading routine. However, without knowing the basics, this tool won’t be much of a help in your crypto journey. So what should you know beforehand?
- First, you need to learn more about trading strategies and trading bots and decide which one suits your needs best. Luckily, TradeSanta has a very thorough FAQ section that you can find on their website.
- Secondly, you should study the market’s current state and see which trading pairs can bring you potential profit.
- Thirdly, you need to choose your trading style: what do you prefer most, waiting for a big score or consistent small profits?
Crypto trading bot can be an effective tool in terms of saving time and nerves. Allowing the robot to keep an eye on the market can ensure that you don’t miss out on the ideal trade bargain. Furthermore, let’s face it, bots trade thousands of times faster than humans, providing you the advantage you need to make the most of this market. However, you should always keep in mind that trading bot is merely a tool, and you are the one who is responsible for it to operate successfully.