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TradingGrey Blog

We've got a lot to say too! From commenting on upcoming trends and coins, to looking back at the last few candlesticks and telling you what we've learned from them, you can learn it all on our blog.


Follow us on our Socials...
TradingView for Technical Analysis with EngineeringRobo
Twitter for Fundamental Analysis
Meta and Instagram for Social Analysis

Trading chart for Chainlink

Crypto Analyst & Crypto Trading Indicators. Do Cryptocurrency Bots Actually Work? Algorithmic Trading Robo Advisors Definitely Do!

Posted on: 
June 22, 2022
Written by Brent

Do Crypto Bots Actually Work? Algorithmic Trading Robo Advisors Definitely Do!

Cryptocurrencies are notoriously volatile. Within mere minutes, prices can fluctuate dramatically. Investors can trade cryptocurrency around the world and at any time of day. Extreme volatility and 24/7 trading capabilities limit the effectiveness of human cryptocurrency trading. Investors cannot always react quickly enough to price changes for optimal trades against breaking news or high priced whales. It would require round-the-clock monitoring for investors to achieve the best trades. 

Cryptocurrency trading is risky, but there’s a potential solution that can help investors with the time aspect of trading. A trading cryptocurrency bot is an automated tool that conducts trades and executes transactions on behalf of investors. These bots are pretty controversial, but do they work? In short, yes, they can be very effective. On the contrary, a cryptocurrency robo advisor provides the automated signals and indicators but does not execute transactions on behalf of investors. Here’s more about crypto bots and algorithmic robot advisors:

What is a Cryptocurrency Bot?

Cryptocurrency trading bots are just computer programs designed to automatically buy and sell cryptocurrencies at the right time to generate a profit. Bots are used by traders around the globe in the cryptocurrency market to maximize investments. There are various types of cryptocurrency bots. The arbitrage bot is one of the most popular types. Arbitrage bots utilize tools to examine prices across exchanges, make trades, and take advantage of discrepancies. The cost of a cryptocurrency can vary among the different exchanges, so these bots act fast enough to beat exchanges that lag in updating their prices. The Chainlink price feeds and blockchain oracles will minimize this in the future.

What is a Cryptocurrency Robo Advisor?

Cryptocurrency Robo Advisors are computer programs designed to automatically provide buy and sell signals for cryptocurrencies and stocks. Robo Advisors are used by traders around the globe in the cryptocurrency market to maximize profit and minimize loss. “EngineeringRobo is a Robo Advisor that uses a computer program that follows a defined set of instructions to create successful entry and exit ideas to users via 3rd party charting website, TradingView”. 

Advantages of Crypto Bots and Robo Advisors.

Ability to Act Fast: 

The main advantage of bots is the ability to act quickly. Investors don’t have the time to dedicate to monitoring cryptocurrency, but a bot handles it automatically. By automating trading, it’s as if you have constant eyes on the exchanges. 

The main advantage of robo advisors is the ability to act quickly and also be in control. Traders and investors don’t have the time to dedicate attention to monitoring their entire cryptocurrency portfolio every minute. The Robo Advisor handles it automatically. By automating the Buy and Sell signals, it’s as if you have hundreds of robots working for you around the clock monitoring every single cryptocurrency.

Easy to Use:

Crypto bots are also easy to use. You don’t need programming knowledge to successfully incorporate a bot into your trading regime. You just need a list of assets you want the bot to trade, specify your desired entry and exit conditions and note how often the trades should be placed. The system implements the strategies you set. They can also be used simultaneously on multiple exchanges. 

Robo Advisors are very easy to use. Along with bots, you don’t need programming knowledge to successfully incorporate a robo advisor into your trading regime. You just need a TradingView account, a list of assets you want the robo advisor to analyze, specify your desired robot indicators, and place your trades on an exchange of your choice. You can use any exchange, multiple exchanges, and a trading strategy you decide.

Minimize Risk:

You can set up rules for your trades, so if one of them doesn’t go through, the crypto bot will automatically cancel all other orders and cease trading. You don’t have to worry about your entire account balance being cleared out by an unprofitable trade or string of multiple bad trades. 

With a robo advisor, you are in control of all your trades. The signals and indicators happen automatically, every second, every minute, every hour, and every day. It’s your decision if you want to make the trade. 

Are Bots Expensive?

Although many bots have user fees that can be quite steep, there are free bot programs investors can use and numerous free indicators on the TradingView platform. Investors typically seek out the bot that will be most effective for them and their investment strategy, and then download the code from a developer. All bots have different software and hardware requirements. We really didn’t want it to be that stressful or confusing…and at this time, we wanted to be in control of how and when our money was being traded on a daily basis. There are definitely some set-it and forget-it robots, send your money and sit back watching the money pile up, but we are not researching them right now.

The EngineeringRobo products and trading experience of TradingGrey keep things simple and very profitable. For less than $150 per month or only $1,198 for the entire year, you can pay for and trade using EngineeringRobo and the TradingView software. Both platforms offer a Free Trial period, 7-days and 30-days respectively. Following the engineer and analyst at TradingGrey and his trade setups, absolutely Free…for now.

Using Centralized and Decentralized Exchanges doesn’t require a premium charge (they get you on the trading fees). We offer a few exchanges where you can sign up with our affiliate link, and get $10 in Bitcoin. Or click directly through the exchange sites themselves, Coinbase.com, Binance.us, or Gemini.com. Most of your Bitcoin and Crypto wallets are also free of charge to download. 

In conclusion, what’s the cost of trading and/or investing without using both TradingView and the EngineeringRobo? It could be thousands or tens of thousands of dollars throughout a year or a few months. We strongly recommend the Robo Analysis Tool for the Future of Trading and Investing: The EngineeringRobo.

Are Crypto Bots Legal?

Crypto Bot trading and Robo Advisors are fully legal.  Anything that would be illegal under normal circumstances is also illegal in cryptocurrency trading. Crypto bots are used by large financial firms around the globe. 

When I first discovered the EngineeringRobo Advisor, it made me think of the second ‘Back to the Future’ movie. Remember the book that Biff Tannen stole from Marty McFly, the Grays Sports Almanac? He used it to become very very wealthy, by already knowing the outcomes of every sporting event. This Robo Advisor knows which way the market will move, before anyone else! 

Final Takeaway

Cryptocurrency bots can save investors time and increase profits by setting up rules to prevent bad trades from occurring. Although bots are a great tool and help aid in trading, they should not be viewed as a replacement for human trading. The best ROI in cryptocurrency markets is still achieved with human trading. 

Technical Analysis for Cryptocurrency, Stocks, and Forex takes many months and years of practice and research, success and failure. We trade crypto on the daily chart for huge gains, small gains, small losses, or break even. Never ever do we trade for a huge loss. We trade stocks on the weekly chart with the same strategy, never a huge loss thanks to our trading experience and the EngineeringRobo Advisor. 

Have you ever wondered how certain people seem to turn a profit off their cryptocurrency and stock trading while others struggle to break even? The truth is that a lot of it comes down to their skill levels (or experience), but some are also trading bots. At TradingGrey, we utilize a little bit of both human technical analysis and the EngineeringRobo. We trade with Confidence and Control.

Take the guesswork out of trading cryptocurrencies and join the up-and-coming wave of automated cryptocurrency investment at TradingGrey and the EngineeringRobo advisor tool. You are a member of something much bigger than a customer. You're part of the TradingGrey | EngineeringRobo family.