Chapter 14: Best Software for Cryptocurrency Trading Flashcards
trading bots can perform a variety of functions such as portfolio management, _______ collection, smart order routing, rebalancing, etc.
data
Always do __________
backtesting
backtesting
test trading strategies against historical data
backtesting enables traders to observe how their ________ perform under the different market conditions
strategies
it’s not advisable for traders to use trading tools that require _______ or servers to run at all times
computers
essential to consider the cryptocurrency _____ software that is compatible with your preferred trading platform
tax
ensure that the bot’s development team is _______ + certified
credible
acquire information on how the team ______ funding
raises
Arbitrage
involves purchasing coins on an exchange + selling them on another simultaneously
use that strategy to make safe and quick _______
profits
market making
used to prevent huge swings in prices
market making usually involves making buy + sell limit orders close to the present _______ price
market
Momentum trading
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]
mean reversion
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
back test your trading bots against the _______ data of the market before starting to trade
historical
consider _________, trading fees, and latency
slippage
don’t forget to access the exchange API _____ to collect high quality data from the market
keys
strategy implementation
the need to specify calculations that would allow your bot to determine what + when to trade
execution
logic may be converted into an API key request that the cryptocurrency exchange can comprehend
job scheduler
automates the whole process via executing your trading strategy
ensure that access of your cryptocurrency trading bot is limited to merely writing on ______ orders on the exchange
selling
bots shouldn’t be able to _______ your money or have any unauthorized API access
withdraw
download + install _____ version of your bot
app
The 17 Best Trading Bots Available Are…
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
Pionex’s license has been approved by the US FinCEN MSB [?]
Money Services Business
Pionex is one of the largest ______ brokers + aggregates liquidity from Huobi Global and Binance
Binance
Leveraged Grid Bot
offers up to five times leverage
Grid Trading Bot
allows users to sell high and buy low at a specific price range
Spot-Futures Grid Arbitrage Bot
enables retail investors to earn a passive income at a lower risk
Smart Trade Terminal
lets traders set up stop-loss and take profit in a single trade
Crypto Hopper
- 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
Trality
- for advanced traders who double as Python programmers
- can take advantage of the in-browser code editor
Bitsgap
allows users to analyse over 10,000 cryptocurrency pairs as well as detect coins with the shortest potential
Zignaly
has an integrated mining Hamster (cryptocurrency market monitoring service)
Trade Santa
you can create your own strategies using their pre-set templates
Haasonline
allows you to trade via more than 16 bots
