How automated trading helps novices trade like professionals
Statistics suggest that an overwhelming majority of traders fail. While the 95% figure was popularized by Tradeciety in relation to traditional assets, the same is true for cryptocurrency trading.
That means only about 5% of all traders are in the money. One of the reasons traders fail more often than not has to do with emotions, and the mismanagement of feelings is amplified in crypto trading, given the high volatility of the market.As a trader, it can be challenging to suppress emotions when making trading decisions.
The fear of missing out, anxiety over losing funds, and the tendency to hold on to losing positions are all common emotional responses that can lead to impulsive and irrational trading behavior.There are several ways to minimize the impact of psychology on trading.
One of them is turning to automated crypto trading, which involves the use of special software commonly referred to as bots.
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