While the crypto industry looks immensely complicated from the outsider’s perspective, the saving grace is in the fact that it is still a mostly speculative market meaning that it follows basic principles of technical analysis with all the information included in the behavior of the price. A contemporary crypto automation strategy can use this aspect of the crypto industry to great success.
WunderTrading is a platform that offers a host of various automation tools that you can employ to build an advanced strategy that will reliably generate money. However, you will need to come up with a good trading system.
One of the best places to search is the forum on the TradingView platform where users share their tested strategies and explain how they use technical indicators. The best thing about this analytical service is that you can use the market history to back-test any strategy and check if it works. This way, you can use the best crypto trading bot strategy using powerful scripting tools provided by WunderTrading.
Which crypto strategies are most profitable?
Identifying a potentially profitable strategy is not an easy task. It requires dedication and time. Despite what social media influencers and forum “experts” say, their strategies may be effective only in certain circumstances. The simplest way to check their claim to build a bot and back-test a strategy using the price history. It can be done with just three simple tools:
- An account on WunderTrading (you can use the free basic plan).
- An account on TradingView (you will need to get the cheapest plan).
- An account on a crypto exchange that you like.
Currently, WunderTrading supports 13 different CEX platforms including Binance, FTX, OKX, and many more. By using the combination of crypto signals & automated trading, you can back-test a strategy and identify when this strategy works well and when it should not be used at all. For example, some trading systems are excellent for short time frames (under M15) and high volatility. Others may be better applied to stable performers (like BTC or ETH).
To find a profitable strategy, go to the TradingView platform and look for interesting offerings and features by the company or look for systems created by power users of the platform. Then, create a bot on the WunderTrading platform and start back-testing it. If the strategy returns a high rate of successful predictions, you can try using it in the real market. However, remember that stop loss markers must be placed according to your risk management rules.
How to automate crypto investing
To start using automation tools, you need to create an account on WunderTrading and connect your crypto exchange. The process of registration is quite simple:
- Go to the main page of the official website of WunderTrading.
- Click “Sign up” and create a new account.
- After that, you will be redirected to the dashboard.
- The system will prompt you to connect a CEX.
- Choose a crypto exchange and the account type (spot or margin trading) from the list.
- Enter your credentials (the key from the exchange).
Now, you can launch your first bot. Go to the section in the dashboard where you can build bots (right in the middle of the left side menu) and start using crypto automation software. Even users on free plans can use these features without any limitations. Note that you can run only five bots simultaneously without upgrading to a paid subscription.
The platform has several preset templates that can be used to great success if you know what you are doing. Setting up a bot is quite easy, but selecting proper values for all parameters is a completely different story. Even if you want to just test something seemingly simple from the list of crypto automated trading strategies, you should never launch a bot without back-testing it.
Should you use automation in your investment plan?
The idea behind using automation is to apply a reliable trading system to the market that operates around the clock. While your strategy can be quite reliable, you cannot realistically perform to the peak of your ability 24/7. However, robots do not need to sleep, rest, or eat. They simply do what they are told to do without any delays, hesitation, anxiety, or pauses.
If you found a combination of technical indicators that works and delivers reliable results, you can build one of those highly efficient crypto trading bot strategies that can generate passive income. Don’t expect huge profits because any strategy that can reliably generate them will have a very low-risk tolerance and calculated take profits that aim to reduce losses instead of maximizing earnings. While it may not sound too exciting, it is a much more dependable method of earning money in the world of cryptocurrencies.
When it comes to crypto, the best strategy is often the one that generates small profits but frequently. If a bot operates around the clock and has sufficient funds, it will outperform human traders on average and may bring in more money than a professional investor if circumstances are favorable. In the long run, utilizing automation solutions based on user-tested strategies is the best course of action for an investor who may not understand all the intricacies of the crypto industry.
How to make automation work
We cannot guarantee that you will make money with bots, but your chances of consistently making profits in this highly competitive and wildly unpredictable industry will become much higher. Automation is a way to reduce risks, reach consistency, and avoid mistakes caused by human factors. With a good trading system and a powerful automation toolset, you will be able to earn money reliably.
If you choose WunderTrading, you can also start testing and even using this approach without paying! The starting plan on this platform is free, but can be upgraded at a moment’s notice to any advanced plan that provides more options for diversification and script writing!