How to Automate Trading with AI Bot for Crypto Trading on Cryptorobotics?
The cryptocurrency market is rapidly evolving and requires 24/7 market monitoring. However, humans cannot trade around the clock, leading them to automate trading using the features of various crypto platforms. Cryptorobotics is one of the best platforms for crypto trading, allowing traders to automate the trading process. The platform offers numerous tools, including crypto signals and bots. Additionally, it features an autofollowing AI crypto trading bot. The bot receives signals from analysts and autonomously decides whether to open a trade. Let’s delve into what autofollowing is and how it operates.
What is Autofollowing AI bot on Cryptorobotics?
Autofollowing AI crypto trading bot on Cryptorobotics is an innovative service that automates cryptocurrency trading. The tool enables users to gather statistics and profit from their transactions. This service integrates signal functionality with trading robots. Signals generated by experienced analysts undergo automatic processing by trading robots, executing trading operations. As a result, investors can optimize portfolio management, reducing the need for active participation in trading processes and increasing profit potential.
How Does Autofollowing AI Crypto Bot Work?
As described above, the Autofollowing AI bot operates based on a bot using artificial intelligence and signals received from analysts. Before opening a trade, analysts analyze the market using technical and fundamental analyses. They then signal the bot to open a trade, and the bot, in turn, analyzes these signals and decides whether to initiate a position.
It is worth noting that Autofollowing AI crypto trading bot provides two options for closing trades:
- Fixed Target Closure: Traders choose one of three strategies (targets) to complete the trade.
- Ladder Closure (with partial sell-off): Traders can simultaneously specify multiple targets for completing the trade or trailing towards the last target. The option of partial sell-off allows the distribution of the trade amount into three parts according to the specified target proportions.
There is also a Trailing Ladder feature. The “Trailing Ladder” rearranges the Stop Loss level upon reaching each new target. Stop Loss monitors targets according to the rule: Upon reaching T1 -> SL=break-even, T2 -> SL=T1, T3 -> SL=T2. This function can operate in two sub-modes: with partial sell-off, where the trade closes simultaneously for each target, or trailing towards the last target, where the trade closes at 100% volume only upon reaching the last target. Analysts can also provide recommended parameters for configuration, marked with a blue signature and selected by default.
How to Choose an Autofollowing AI Crypto Trading Bot?
The Cryptorobotics platform has numerous autofollowing channels with AI crypto trading bots. Therefore, before launching an autofollowing channel, it is essential to study each channel, its statistics, cost, and payment method.
To choose an AI crypto trading bot, open the autofollowing tab, where a series of channels with summary statistics is presented. Here, you’ll find the following key parameters:
- Average Monthly Profit in %: This is the average profit value from all signals in one month, calculated as the average overall daily profit multiplied by 30.
- Number of Signals/Trades for the Entire Period: Information about the number of signals or trades generated by the autofollowing AI trading crypto bot over the entire available period.
- Exchanges Receiving Signals: A list of exchanges where signals from the selected AI bot are generated.
- Number of Subscribers: The number of users subscribed to this AI crypto bot.
- Subscription Cost per Month/Profit Sharing Percentage: Information about the monthly subscription cost or the percentage share of profit if the profit-sharing model is used.
To view more detailed trading statistics for an AI crypto trading bot, selecting the “View Statistics” option is required.
Upon visiting the channel page, data, including the average profit per signal or trade, is provided. The average profit for the last year is calculated as the average profit from achieved goals during this period. Additionally, the following statistical data are available.
- Win/Loss Diagram showing the percentage of successful and unsuccessful trades.
- Achievement percentages for conservative, moderate, and risky strategies and average profit for each strategy.
- Average trade cycle and the average number of signals per day.
- Cumulative profit growth chart from signals/trades, providing cumulative values for each day.
- A graph reflecting the signal frequency in the channel.
For more detailed information about each signal, statistical data is provided by the AI crypto trading bot. This includes the signal creation date, goal achievement, and profit for each strategy. Additionally, details such as the date and time of trade execution, the exchange where the trade was conducted, and a signal parameter chart are available. This chart allows tracking of key points, such as the buy range, strategy goals, and Stop Loss. Information about the status of unfinished signals is also available.
Autofollowing: How to Start Using AI Bots?
To begin using an AI crypto trading bot in autofollowing mode:
- Channel Connection: Select the channel of interest. Click the “Subscribe/Connect” button. Then, pay the subscription or connect the channel using the Profit Sharing system.
- Parameter Configuration: After subscribing or clicking “Connect,” channel settings become available. For Profit Sharing channels, settings open automatically; for fixed subscriptions, click “Settings.”
- Autofollowing Parameters: Choose the exchange key to initiate the Autofollowing AI crypto trading bot. Define the trade closure option: fixed target or ladder with partial sell-off. Enable or disable the Trailing Ladder for automatic Stop Loss adjustment upon reaching new goals.
- Analyst’s Recommendations: The analyst may provide recommended parameters, highlighted with a blue signature.
- Choose the Base Currency and Balance Setting: Specify the base currency for trading (BTC, USDT, ETH). Choose the trading balance displayed after selecting the exchange.
- Lot Size and Risk Management: Set the size of one lot or the number of lots, guided by risk management principles.
- Maximum Leverage: If trading on futures exchanges specify the maximum leverage.
- Save and Launch: Click “Save and Launch” to complete the settings.
Now you are ready to use the AI crypto trading bot autofollowing mode on the selected platform.
How to Track Statistics of AI crypto trading bot in the Autofollowing Channel?
To track the statistics of the AI crypto trading bot in the autofollowing channel:
- After the initial trades, go to the “My Statistics” section.
- Current settings for the autofollowing of this channel will be displayed.
Subscribe to multiple channels for portfolio diversification and earn income from different signals. Later, choose the most profitable channel that aligns with your trading preferences.