Remember how the Willy and Markus bots made a huge amount of cash on Mt. Gox? Wouldn’t it be nice to try your hand at automated trading to see if you could make a nice profit, too? Well, HaasOnline Software just released Haasbot 1.0 for you to trade on ten exchanges in over 500 cryptocurrencies.
Haasbot 1.0 includes arbitrage bots, order bots, and scriptable indicators. With bots, there’s always the risk of a malfunction, but likewise, there’s always a chance to turn a profit.
Also read: Malfunctioning Bitcoin Trader Bot Causes Extremely High Volume on the Bitcoin Exchange BTC-e
Haasbot brings arbitrage trading, scriptable indicators and order bots to the public, and you can develop countless trading strategies with them.
Bot developers can write scriptable indicators in the powerful C# programming language. TA-Lib support is available for powerful Technical Analysis features crucial to any bot on the market. So, what are these magical scriptable indicators? Indicators in the trading world are tools to help predict the future based on the current trend of the market. While the future it predicts won’t help you to know when you’ll meet that special guy or girl, it will predict the future market so you can make an informed decision on your next trade.
Arbitrage trading allows you to use the price variations on each exchange to your advantage. When you see a favorable exchange rate between two exchanges, withdrawal funds to the new exchange to make a trade. Joris’ article, “Bitcoin Price Speculation – Lessons Learned From Trading Stocks,” is an excellent read. If you don’t understand what arbitrage trading is and what you need to look out for to avoid losing your money, consider reading it. Haasbot enables you to trade on BitStamp, BitFinex, BitTrex, Poloniex, Cryptsy, CEX.IO, Huobi, Kraken, Camp-BX, and BTC-E. Collectively they have markets for over 500 cryptocurrencies.
Order bots are what most people think of when they think of trading bots. Haasbot order bots create buy-orders and sell-orders based on your defined algorithm. When you need to make a trade within the same exchange, the order bot will perform that trade. Instead of sitting at your computer and trading away as your significant other leaves you for staying up all night, the order bot can attempt to fulfill your financial fantasies while you fulfill those of your significant other. Let the bot do all of the work and hope you don’t lose all your cash. If you program in a stop loss on your new bot, you can stop any losses from selling your coins at too low of a price. You define what “too low of a price” means to you.
What do you think about order bots, arbitrage bots, and scriptable indicators? Have you tried Hassbot yet? What experiences did you have with their platform? Do you prefer another platform? What bot platforms do you recommend and why? Be a friend and help others know about your experiences with bot trading and manual trading and leave a comment below in the comments section.
Disclaimer: I’m not affiliated with Haasonline Software or any of their products.
Images from HaasOnline Software and Shutterstock.