Trading bot is a software program used to automate trades and make the decision of buy and sell based on market data and predefined rules. You need to connect your cryptocurrency exchange with the trading bot and set specific parameters to guide the bot on how to act. There are different types of trading bots such as Arbitrage bot, Scalping bots, etc.

Trading bots use various indicators to analyze market data and execute trades automatically. The logic used by a trading bot can vary depending on the bot and the trading strategy. Tafabot offers different types of bot options suitable for all market conditions including bear, pull and sideways markets.

Crypto trading bots are profitable if you choose the right trading strategy and configured your bot properly with the right parameters. Keeping in mind the market conditions. You should thoroughly research any trading bot before using it because there is a lot of low-quality products in the market advertised as trading bots. If you are new to crypto trading bot, you can use mirror trading where you can just copy the bot of a successful trader.

Automated trading like any other form of trading can be risky. Since trading bots rely on data and historical information if that information is incorrect or outdated the bot may make incorrect trades. So, it’s important to do extensive research before choosing any trading bot.