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Crypto-trading bots are gaining popularity with lightning speed among diverse traders, regardless of their level of proficiency. This popularity is due to saving traders from the volatile crypto market's repetitive processes and high risks. For example, when trading on the OKX exchange with the OKEX trade bot, you will be able to switch to a completely different trading experience, emotionally, statistically, and of course, in financial performance.
What is the OKEX Trading Bot?
The trading bot for OKEX is an algorithm with various pre-programmed scenarios for each market phase, allowing you to perform profitable and low-risk trading in almost all market conditions, with high speed and accuracy of execution 24/7. Moreover, you will completely free yourself from the constant need to keep track of charts, hedge risks, and suffer from the stress associated with unsuccessfully open trades.
One of the services providing such trading algorithms is the GoodCrypto platform. It offers the three best trading strategies for every market cycle that help traders get the most out of their trades. Letâs take a quick look at the capabilities of each of them and the prospects for shifting to the profitable OKEX trading bot algorithms.
Grid Bot Strategy
One commonly repeated accumulation or distribution phase often plunges the market into a flat. As a result, the price loses its clear structure, and you must change your strategy in time to keep the profitable RR ratio. The OKEX grid trading bot would be an ideal solution for such a situation in the market. The bot places an equal amount of Limit Buy and Limit Sell orders on the grid of the chosen range and executes them as the price moves through these levels.
DCA Bot Strategy
The example of the DCA OKX bot strategy is more suited to a trending market. It will be helpful in cases where you want to buy an asset at the best possible price or to remedy a not-so-successful entry into the market.
In both cases, the bot will make additional trades to increase your position if the market moves against you and will form the best average entry price by the reversal time. In addition, in the GoodCrypto app, you can choose a long or short DCA setting for the bot, depending on your trading objectives.
Infinity Bot Strategy
Infinity Bot is the best option for those who prefer trading in high impulse price movement periods and strong trends. Using this OKEX algo strategy, you can get the most out of a trend movement up to its reversal.
The only criteria to run such a bot is to specify the Trailing Distance you need to exit the trade. Thus, trailing orders can be executed forever until you reach your profit target or stop the bot.
OKEX Futures Bot
Any strategy of the trading bot by GoodCrypto can be used to boost your Futures performance, and the OKEX exchange enables you to have a leverage multiplier of up to 125x.
Just choose the right bot strategy for the current conditions of the market structure, and leave all the hassle of finding the right entry points and executing that huge number of trades to the bot.
Remember to keep risk in mind when using leverage, as the higher the multiplier, the closer the liquidation margin.
Conclusion
It has become much easier to profit from the Ńrypto market using regularly recurring trends in any price movement cycles simply by running the right crypto-bot based on the current market situation. The bot will then generate profits automatically as long as it remains in the market, delighting you with consistent results with absolutely no need for attention on your part.
The most important thing you can do for yourself when trading on the crypto market is to reduce emotions and possible risks as much as possible, multiplying your chances of saving and growing your portfolio simultaneously. And bots are an excellent tool for that!
So, put your doubts aside and try to make your first profit with the help of a trading bot, OKEX!
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.