As a seasoned researcher with a penchant for all things crypto and AI, I find the introduction of automated trading bots by BitMEX to be an intriguing development. With my background in both fields, I can appreciate the potential this tool holds for traders, especially those who are tech-savvy or have a knack for strategy.
The cryptocurrency platform, BitMEX, has launched automated trading bots that allow users to tailor settings according to various trading approaches.
The Seychelles-based cryptocurrency platform, BitMEX, is broadening its services by introducing automated trading bots. These bots allow users to create personalized trading strategies that can execute trades on their behalf.
According to a press release from BitMEX on October 10th (as reported by crypto.news), their “Trading Bots” tool is engineered to carry out predetermined trading strategies or respond to market indicators.
On this platform, there are two levels of Automated Trading Bots available: Beginner Bots, designed for novice traders, help set up automated trading, while Expert Bots cater to seasoned users, providing a variety of customization options such as time settings and technical indicators like the Relative Strength Index.
BitMEX explains that its automated trading bots span across more than 200 cryptocurrency contracts, offering users a wide variety of trading methods. Once set up, these bots will autonomously execute trades according to the user’s perspective on the market. Users retain the freedom to modify or pause their bots as needed, adapting to changes in market conditions; this flexibility was emphasized by BitMEX.
Regarding the product launch, BitMEX CEO Stephan Lutz expressed enthusiasm, stating it symbolizes a “progressive leap” at the convergence of cryptocurrency and AI technology. Although it’s uncertain if the bots incorporate artificial intelligence directly, Lutz emphasized that they empower “data-based trading decisions,” proving advantageous for both novice and experienced traders alike.
In simpler terms, it’s been pointed out before that the usefulness of automated crypto trading systems is often debated. While these systems can indeed be helpful, particularly for experienced traders, most average users may find it challenging to make a profit without a deep understanding of trading. Essentially, these bots function as tools for automating trades for skilled professionals rather than being an easy route to wealth for beginners.
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2024-10-10 14:02