Finding the right trading software partner can seriously wreck your nerves just as much when you do actual trades. After all, you’ll be leaving everything in the hands of this program. Whether the software makes it or breaks is something you completely have no control over – especially when you decide to trade on auto-pilot.
In case you still don’t know, there are generally two ways in which a person can trade cryptocurrency (If you’re still very green on the concept of cryptocurrency, best read this article first!). One is manual mode and the other is autopilot. Just by hearing the words “manual” and “auto,” I believe you can already guess how it works. But as formality, allow me to elaborate more on these two:
Manual Trading is when you decide to control, navigate, and influence the trade itself. There are many respectable trading platforms with websites that are very easy to use. Most of them offer the same functions on mobile too. Although you won’t really have much trouble trying to move around the website, most of the weighty responsibility would lie on your trading decisions. After all, you become liable for whatever happens with the trade. You always make the calls. From which markets to enter down to determining trends – it’s really all up to you. Now, it’s either you have a gift for this or you’re just really, really calculative.
Autopilot Trading, on the other hand, is when you implore the aid of third-party trading software to regulate and command all trading decisions. These decisions are derived from raw trading data the program’s database has managed to accumulate over the years. Some types of trading software even have access to bigger trading databases that make them more accurate when coming up with predictions.
The main difference between manual and autopilot modes is the human requirement. In manual trading, the presence of a human trader is a must. In autopilot mode, the software can go on trading even when the actual trader is eating, sleeping, hanging out, or doing a bunch of other stuff. Also, the processing power of a program exceeds that of man not because the human brain is inferior to a robot’s but rather because robots have nothing else going on in their heads other than to process data. As you may already be aware about, human err is brought about by man’s vulnerability to physical and emotional influences. This often leads to clouded judgement. Robots, or trading programs like Bitcoin Code, aren’t affected by this external and internal stimulus which is why they are able to make more RATIONAL decisions. They look at facts, process it, and decide on the best course of action. That’s it. So theoretically (and based on my own experience, actually), robots yield better trading results compared to manually-handled trades.
Okay. From this explanation, I believe you’re getting the message that I’m encouraging you to partner with a trading software provider. Well, I am. But I am also telling you that getting a trading robot to do the work for you comes with great risk. You have to understand that a program is only as good as its developer. So make sure you deal your investment with a company that can be trusted!
If you want to know more about trading bots first, check this article out: https://bravenewcoin.com/news/cryptocurrency-trading-bots/
Here Are Important Signs You Should Be Looking For In Your Cryptocurrency Trading Software Company:
The Price Is Just Right
You can tell a lot of things just by looking at a product’s price. When the price is too low, be wary. If the price is too high, be careful. You can create a good estimate of a product’s average value by piecing together whatever info you find from different sources – online and offline. When you find that a company’s offer somehow deviates from the norm, and without an acceptable reason why (e.g. extra/added feature), then you should really start raising your suspicions. Why? Obviously, it is because a legitimate business would try to be competitive with market prices – but definitely not at their expense. For this reason, any sane trading software provider will not deviate far from established standards. Not unless, they offer something completely unique that justifies the price difference. When the price is too low, how do you think companies compensate their “capable” developers? Most probably, they’re not compensating anyone or anything at all and may not even be a trading company. The same goes when the prices are too high. Anyhow, when there is no acceptable reason for the price difference, don’t bite the bait.
They Give You Reasonable Promises
Next, you know you’ve partnered with a good provider when they give you feasible and actionable promises – something that will not break expectations. Telling you that your trading activities will improve by a good 15 to 30 percent after the first week is realistic. Telling you that it’ll improve by 98% on the very next day is nuts. You should know the difference between promises that are feasibly possible from glitter-coated lies. The worst thing you can do is even fall right into an offer that is clearly cash bait. You should be old enough to know that deals that are too good to be true end up exactly as you’d expect – a lie, a fake, or a ploy to extort you of your money.
All Objectives Are Clear & Attainable
Also, when you’re dealing with a legitimate provider, you are made aware of how the entire program works – how it operates, what it hopes to achieve, and what you’ll reap in the process. The objectives are clear to you; you are kept in the loop 100% of the time. They will disclose what can be achieved and how it can achieved to you without leaving anything in the dark. When you know a program’s objectives, you can better assess and decide whether it is the right program for you. You can also deliberate whether the goals of the program are attainable or plain impossible. Investing a big amount of money blindly can lead to terrible consequences. Make sure you lean before you leap!
Good History Of Success!
And last but not least is a long history of success and good credibility. A good trading software provider doesn’t have to brag about how great its services are; people who’ve previously partnered with them will cover the part. A good company is not a loud one but rather one that is PROMINENT in terms of presence. You’ll see great reviews about them just as easily as you found them. After all, something GREAT can’t be held secret for long.
Seek public opinion. Visit trading forums. Consult with review websites. Do everything you possibly can to make sure that you hit the jackpot. Cryptocurrency trading is an activity that is not without risk. But you can surely lessen the danger when you carefully screen through your choices.
Although we end here today, I still suggest that you find more resources and learn more about cryptocurrency before partnering with any trading software provider. Knowledge is always the key to success.