Suppose you are considering crypto bots to optimize trading on the Coinbase exchange with the least amount of resources. Matching the right bot with the current market situation is essential to achieve the best results.
Crypto trading bots will make your trading a lot more efficient because they are always running in multi-tasking mode, analyzing and executing trades on many cryptocurrencies simultaneously. Your bot is immune to emotional decisions so that you won’t miss any opportunity compared to trading manually.
A Coinbase trade bot will help eliminate the emotional aspect of trading that often leads many of us to make mistakes, significantly boost the PnL growth, and always make the most informed decisions.
What is the Coinbase Trading Bot?
At its core, the bot for crypto trading is based on algorithmic strategies, which use recurring market tendencies to execute many successful trades for you. As a result, the Coinbase API bot can increase your profit potential while minimizing risk and doing so without your direct involvement.
Using the cryptocurrency algo bots, you will discover elaborate automation and the diversity of advanced trading tools so that trading routines and high risks will no longer be a problem. But first, let’s dive into a bit of detail about strategies.
By the way, all of them are available in the GoodCrypto app – a handy platform with the best selection of PRO tools for better trading performance. Just give them a free try right now!
Grid Bot Strategy
With the Grid bot strategy, the flat market will finally cease to be a problem for stable profit results. The Сoinbase crypto bot by GoodCrypto takes the maximum benefit from the trading range you have selected, executing equally sized Buy and Sell orders as the market moves through the grid of these pre-set limit orders. Set the number of grid levels for the working range of the bot and the order value according to your trading objectives with just a few clicks.
DCA Bot Strategy
The DCA bot strategy has its own unique advantages during the momentum markets. Such a DCA bot for Сoinbase will help you to purchase an asset or accumulate a position in several steps, forming the sweetest entry point by executing a series of orders, even if the price moves against you.
The DCA bot can also minimize the risks in case of a failed or an early entry into the market, as the bot will execute additional orders to average your position, reducing the initial entry price. The Coinbase bot by GoodCrypto will automatically reset the Take Profit value as additional orders are executed. Before the start, you can shift between the long DCA or a short DCA strategy, depending on the trend in which you prefer to trade.
Infinity Trail Bot Strategy
In a palette of strategies for great market opportunities, the GoodCrypto platform has another trump card for the impulsive markets.
If the price comes out of the flat and the trend is strong, the best strategy to catch the maximum amplitude from the asset movement will be the Infinity Trailing bot.Â
The GoodCrypto Coinbase bots will autonomously execute Buy or Sell Trailing orders with a pre-set Take Profit size, one after the other. The thing you have to do before running the algorithm – is to specify the value of the Trailing Distance. Then you can just watch the Coinbase trade bot accompany the rising profits with each price swing.Â
Such a bot will continue to trade until it hits the target set or will be stopped by the trader.
Closing Thought
The process of trading with an auto trade crypto strategy has become greatly simplified. But, for now, the last checkpoint between you and the profit results in any market conditions – is the choice from these three algorithmic strategies to run your crypto-bot accordingly to the current market.
To most Coinbase traders, especially those who trade intraday, cryptocurrency bots can become major assistants, allowing them to significantly reduce the time spent on market analysis and filtering signals, keep the risk under control, and raise the PnL results on any timeframe with any asset.
The choice is always in your hands, but safety and reduced risks are the number one priority for profitable long-distance trading. With the GoodCrypto App, you can always launch your bot strategy in just a few clicks!
