Trality: Algorithmic Trading in the Unpredictable Cryptocurrency Market
The cryptocurrency market is no longer one that can be isolated. Bitcoin is no longer a niche asset with so many institutions and recognized investors jumping on board and seeking exposure.
Retail investors are here, and, at this point, it’s safe to assume that they’re here to stay. With daily trading volumes across major exchanges exceeding $200 billion regularly, the interest in cryptocurrency trading is real, and there’s no longer any doubt about it.
However, this doesn’t make it any less volatile or easy to predict – on the contrary. Cryptocurrencies are still relatively small in total valuation compared to traditional market products and, as such, bring forth tremendous volatility that we see on a regular basis.
About a month ago, Bitcoin’s price was trading at upwards of $50K, and in April, it even charted an all-time high of $65K. Today, however, the price has declined substantially, sitting at around $40,000. In the past few days alone, BTC decreased to $31K and increased to where it’s currently trading, showcasing the massive volatility the market experiences.
This presents many opportunities for experienced traders but also a lot of challenges for those without a lot of knowledge.
Regardless of whether you’re an avid professional or an enthusiastic beginner, benefitting from well-made trading tools is a massive help and can definitely boost performance. This is where Trality comes into the picture.
Trality – A Platform for Algorithmic Trading
Trading bots are somewhat a known phenomenon in the field, but it’s also a fact that a lot of the ready-made solutions fail to perform as promised thanks to outdated algorithms that can not keep up with an ever-shifting market.
Writing the code for a well-performing trading bot, on the other hand, requires serious knowledge in both development and trading. With this in mind, Trality’s platform allows anyone to create their very own trading bots without having to write a single line of code.
The main idea behind these is to capture gains without the user having to sit and stare at the charts the whole time. Instead, they’re able to create a piece of software, namely a bot, that executes trades under predetermined conditions, following specific patterns that are input by the users themselves.
With this said, there are quite a few advantages of trading bots to consider:
- Trade with no emotions
Emotion trading is undoubtedly one of the most common reasons for which people lose money. Revenge-trading, for instance, refers to a situation where you’ve lost money and are trying to make it back immediately after, oftentimes taking rash and emotional decisions.
With trading bots, this is something you don’t need to worry about as they are based on pre-programmed sets of rules that stick to a certain strategy and don’t rely on emotion.
- High-speed trading
Regardless of where you look it from – bots are just faster than people – they are capable of millions of computations and thousands of transactions across different time zones and various markets – all of this almost instantaneously.
Trades are executed quicker than a user would normally be able to, and this can be particularly useful on many occasions.
- Consistency and discipline
Both of these are among the most important factors when it comes to becoming a successful trader and are also arguably some of the most challenging things to accomplish.
With a trading bot, you can execute your trades consistently, based on a well-researched strategy that you’ve put forth in advance, and be disciplined enough to see it play out.
Who’s This For?
As mentioned above, Trality is a convenient solution regardless of the skill-set of the user. It’s suitable for those experienced in coding through Python as the Python trading bots will allow you to make the most out of the quantitative skills and boost returns.
It’s also suitable for casual traders who are looking for a convenient entry into automated trading with the hope of increasing returns while also spending a lot less time executing trades manually.
In general, the platform is also appropriate for anyone who’s enthusiastic about trying out something cutting edge or wants to improve their current skills and dive into more sophisticated ways to trade.