Trading bitcoin can be lucrative. There are two main models you can employ as a trader – swing trading or day trading. A swing trader is patient with the positions they take on the market. When they open a trade, they are usually looking to close the trade in not less than 24 hours. Sometimes, swing traders can wait for days or even weeks before they close the trade. The rationale is to make only a couple of trades that have high returns. Swing traders can easily make 20-50% profits on their trades. On the other hand day traders, approach the markets with a quick-take strategy. They typically take several trades a day and each trade gives them a small percentage gain. For instance, they might shoot for a 3-10% gain on a single trade. However, they make several trades in a day and so cumulatively, they still make a good return.
Whether you are swing trading or day trading, you will need to invest a lot of time in order to succeed in your trades. It is common knowledge that day traders need to spend most of the day in front of a computer screen. Even though swing traders spend less time on the computer, they still need to invest hours of their time in research and preparation before they finally execute their trades. Either way, trading is a time-consuming activity. It would, therefore, help a lot if the trading process can be automated – and that is where bitcoin traders come in.
A bitcoin trader is a special algorithm that investors and traders can use to trade automatically. In the traditional stock market, using algorithms for trading is quite an expensive affair. For starters, not all brokers give API access and the ones that do charge premium rates for it. But the decentralized nature of cryptocurrencies changes all this. Most cryptocurrency exchanges make their API’s available to anyone at no additional costs. You can, therefore, take advantage of this and connect your bitcoin trader to the different exchanges and use it to execute the trades you want.
There are a number of bitcoin traders that you can use but executium.com stands tall among her competitors. Apart from trading Bitcoin all day and night throughout the week, executium also allows you to do vertical trades across various exchanges. This is often referred to as arbitrage trading and it is arguably the easiest and safest way to make money as a trader – as long as you have the right tools. Simply put, arbitrage is the process of buying assets from one market and then selling them on another market. The rationale is to identify digital assets that are cheaper on one exchange and therefore make a profit by selling them on the exchange where the price is higher. Identifying these price differences can be super hard for a human but executium not only gives you the tools to identify such disparities but also instantaneously execute the trades.