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Cryptocurrency Trading Notes > Chapter 14: Best Software for Cryptocurrency Trading > Flashcards

Chapter 14: Best Software for Cryptocurrency Trading Flashcards

1
Q

trading bots can perform a variety of functions such as portfolio management, _______ collection, smart order routing, rebalancing, etc.

A

data

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2
Q

Always do __________

A

backtesting

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3
Q

backtesting

A

test trading strategies against historical data

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4
Q

backtesting enables traders to observe how their ________ perform under the different market conditions

A

strategies

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5
Q

it’s not advisable for traders to use trading tools that require _______ or servers to run at all times

A

computers

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6
Q

essential to consider the cryptocurrency _____ software that is compatible with your preferred trading platform

A

tax

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7
Q

ensure that the bot’s development team is _______ + certified

A

credible

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8
Q

acquire information on how the team ______ funding

A

raises

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9
Q

Arbitrage

A

involves purchasing coins on an exchange + selling them on another simultaneously

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10
Q

use that strategy to make safe and quick _______

A

profits

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11
Q

market making

A

used to prevent huge swings in prices

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12
Q

market making usually involves making buy + sell limit orders close to the present _______ price

A

market

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13
Q

Momentum trading

A

also commonly referred to as trend following system [recommended for riding positive momentum waves w/ assets as well as selling them when the momentum of the market reverses]

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14
Q

mean reversion

A

a type of Crypto trading bot strategy that’s created on the assumption that if the price of a cryptocurrency differs from the average, it can be reverted back to such average

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15
Q

back test your trading bots against the _______ data of the market before starting to trade

A

historical

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16
Q

consider _________, trading fees, and latency

A

slippage

17
Q

don’t forget to access the exchange API _____ to collect high quality data from the market

A

keys

18
Q

strategy implementation

A

the need to specify calculations that would allow your bot to determine what + when to trade

19
Q

execution

A

logic may be converted into an API key request that the cryptocurrency exchange can comprehend

20
Q

job scheduler

A

automates the whole process via executing your trading strategy

21
Q

ensure that access of your cryptocurrency trading bot is limited to merely writing on ______ orders on the exchange

A

selling

22
Q

bots shouldn’t be able to _______ your money or have any unauthorized API access

A

withdraw

23
Q

download + install _____ version of your bot

A

app

24
Q

The 17 Best Trading Bots Available Are…

A

1 Pionex
2 Crypto Hopper
3 Trality
4 Quadency
5 3Commas
6 Bitsgap
7 Zignaly
8 Shrimpy
9 Coinrule
10 Trade Santa
11 Profit Trailer
12 NapBots
13 Kryll.io
14 Mudrex
15 Haasonline
16 HodlBot
17 GunBot

25
Q

Pionex’s license has been approved by the US FinCEN MSB [?]

A

Money Services Business

26
Q

Pionex is one of the largest ______ brokers + aggregates liquidity from Huobi Global and Binance

A

Binance

27
Q

Leveraged Grid Bot

A

offers up to five times leverage

28
Q

Grid Trading Bot

A

allows users to sell high and buy low at a specific price range

29
Q

Spot-Futures Grid Arbitrage Bot

A

enables retail investors to earn a passive income at a lower risk

30
Q

Smart Trade Terminal

A

lets traders set up stop-loss and take profit in a single trade

31
Q

Crypto Hopper

A
  • allows users to create their own technical analysis
  • provides templates as well as real time performance reports
  • available on Android + iOS
  • features algorithms that support RSI, EMA, and BB
32
Q

Trality

A
  • for advanced traders who double as Python programmers
  • can take advantage of the in-browser code editor
33
Q

Bitsgap

A

allows users to analyse over 10,000 cryptocurrency pairs as well as detect coins with the shortest potential

34
Q

Zignaly

A

has an integrated mining Hamster (cryptocurrency market monitoring service)

35
Q

Trade Santa

A

you can create your own strategies using their pre-set templates

36
Q

Haasonline

A

allows you to trade via more than 16 bots

Cryptocurrency Trading Notes (14 decks)

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