Time waits for no one and financial markets are no exception. Especially in the uncharted territory of cryptocurrency trading, keeping up with the fast-paced changes in prices is key to success. A plethora of cryptocurrencies, a few viable trading strategies and numerous tools accessible to new traders may all cause confusion.
Fortunately, technology has made it possible to automate several trading processes, including market analysis, predicting trends and order execution. This frees up more time for strategic planning and establishing a solid foundation for long-term cryptocurrency trading success.
Advantages
Minimizing Emotions
Backtesting
Preserving discipline
Improving order entry speed
Diversifying trading
Disadvantages
High start-up costs
Ongoing maintenance costs
Lack of flexibility
Mechanical failure
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