Trading online has become an extremely popular and lucrative activity during the last couple of years. Be it Forex, crypto, commodities, or other assets, ordinary people from all over the planet have engaged in this type of business activity.
When it comes to the mode of trading, more and more traders opt for automated trading versus manual trading. According to statistics, automated trading counts for more than 60 percent of all online trades in the US. In this article, we will tackle this phenomenon and explain its reasons.
What are auto trading platforms?
Auto trading platforms represent the specialized software with the role of executing trades on behalf of a trader, thanks to the previously set parameters. The indispensable parameters are to stop loss and take profits. Once entered into the trading system, the software scans the market conditions and reacts to them by opening and closing trading positions.
Why are auto trading platforms so popular among traders?
First of all, if you are a beginner trader not so sure about your trading capabilities, the automated trading platforms will facilitate you to embark on the market.
Since the algorithm is developed to operate on your behalf, you will not have to worry about trading strategies. The software scans the market movements in a matter of milliseconds and finds the best opportunities for you.
Therefore, after setting stop loss and taking profit parameters in the system, you can sit back and wait for the bot to do all the work. So it’s really a time-saving solution if you are too occupied to dedicate much time to trading activity during the day.
Furthermore, the accuracy of these platforms is very high. The best on the market provide above 92% accuracy when making trading decisions for you. Using these apps and platforms, you can take a step ahead of your trading peers and make considerable profits. Auto trading platforms are not only designed for rookie traders. Even if you are super skilled in manual trading, you can boost your profits by switching to auto trading mode.
Which platform is the most popular among the traders?
We can enumerate several among them, but the list is not exhaustive. The most popular ones are Etoro, DupliTrade, TradingView, Ninja Trader… The market of auto trading platforms is flourishing lately, so making a choice can be challenging.
Naturally, picking among the auto trading platforms that have proven their effectiveness over time is always advisable. However, a plethora of new apps, such as BitiCodes IO, strive to make their place on the market using the most recent advancement in machine learning and artificial intelligence.
These new players on the market could also be a good option. Just do your research and try their demo trading mode to ensure you make the knowledgeable choice. Start by reading testimonials, trading forums, and reviews for your research.
These are excellent sources of information regarding the auto trading platforms’ features. Some of them are masked advertisements, but in most cases, they represent the real opinions of active traders that want to share their trading experience.