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WunderTrading: Free Crypto Trading Bots

For many retail traders working in the crypto market, using automation is not a choice but a necessity. Considering the complexity of the market, it is a miracle that some human traders manage to stay profitable for such long periods while using risky strategies like scalping. On the other hand, something like a crypto auto trader can provide reliable results with the right strategy even when used by a non-professional.

Crypto Trading Bots

How to automate crypto trading?

The implementation of automation tools in your investment strategy is simply necessary if you want to consistently make a profit while trading in the crypto market. The sheer number of various crypto projects makes it quite impossible to make reliable predictions, but many traders do not need to be experts in decentralized apps to earn money.

Technical analysis is the bread and butter of any retail trader working with volatile assets. Volatility is an inherent quality of all crypto assets which means that a trader that understands market patterns can create a reliable strategy using standard indicators like Relative Strength Index, Stochastic, HashRibbons, Bollinger Bands, and many others. These indicators are readily available on advanced analytical platforms like TradingView, one of the leading analytical terminals in the crypto domain.

Using signals (alerts) from this platform to build sophisticated trading scripts is the best way to extract profits from your crypto investment forays. A great automation vendor to work with is WunderTrading, a platform considered by many the best Bitcoin auto trading platform on the internet due to its versatile lineup of products and sophisticated scripting tools that allow retail traders working on various crypto exchanges to build advanced bots capable of generating profits consistently.

The process of automation can be described as a very straightforward sequence of actions:

  1. Create a new account on the WunderTrading website.
  2. When prompted by the dashboard, connect an existing CEX account.
  3. Use the TradingView platform to generate signals.
  4. Create a script in which these signals are used as conditions for orders.
  5. Back-test the bot using the market data provided by the TradingView platform.
  6. If the strategy is successful, launch the bot on the exchange and collect profits.

In reality, the process is more complicated. You will need to learn how TradingView’s proprietary scripting language (pinescript) works and how to use it efficiently when building a bot. However, you can also use a variety of preset templates that can be quite profitable if you understand risk management and can cut losses by placing stop loss commands and using time-tested approaches like DCA and GRID strategies.

How much crypto traders make with bots?

Profitability depends on your strategy in 100% of cases. It is important to remember that automation vendors provide tools. They do not have an option to magically turn your investments into profitable endeavors. However, you can always find a good selection of really useful instruments on a platform that offers a valuable product. Here is our short crypto auto trading review based on the toolset offered by WunderTrading.

This platform allows you to focus on several simple strategies:

  • DCA buying and selling. This strategy uses the distributed cost average principle to reduce the price of assets by buying small quantities over the period of a bearish trend to liquidate positions when a certain take profit threshold is reached. DCA is also a strategy employed by long-term holders. You can use either approach (to buy and sell or focus on accumulating tokens).
  • GRID trading. This is a more sophisticated version of DCA buying and selling. A Grid crypto auto trading bot will place buy orders using the same logic as DCA (if the price goes down, buy). However, for each placed order it will create a separate take-profit marker to ensure that each opened order has the potential to make money. In theory, this strategy is more reliable and less risky, but the result depends on how well you calculate risks.
  • Scriptwriting. You can build custom bots using special signals from TradingView. It is a good way to test a sophisticated strategy involving multiple indicators and signal confirmations. The script writing toolkit at WunderTrading is excellent when you need to write, back-test, and deploy a bot as quickly as possible without any issues.

It is impossible to calculate exact profitability and return on investment from automation because these tools can magnify your ability to trade well, but they also can significantly increase the rate at which you are losing money if you don’t place stop losses wisely. Roughly 8% of all retail traders use various automation tools. More than 30% of all users of Reddit’s cryptocurrency community use automated DCA buying to accumulate long-term portfolios with different types of coins.

Using the best automated crypto trading bot for free

WunderTrading is a good choice for any retail trader interested in crypto because the platform offers a basic plan that costs zero dollars. Yes, it is completely free and allows you to run up to five different bots at once. You can build a crypto auto trading bot without investing any money and back-test it using the toolset provided by the vendor. It is a great opportunity to both learn more about technical analysis and create a reliable money-making robot without any initial risks.

The platform allows you to check all features without committing to a paid plan. You can connect your crypto exchange account and launch a bot in the real market for free. As long as you use less than five bots, you can avoid paying anything. However, if you want to expand your operation, you will need to pay for a higher-tier subscription for this advanced auto crypto trading app that has a very powerful toolkit and offers a plethora of different preset templates to test.

If you are looking for a good place to start testing technical analysis strategies, you should be looking at WunderTrading right now! It is a place where you can start your journey in the world of trading automation for free!

John Paul
John Paul
John is a full-time blogger and loves to write on gadgets, search engine trends, web designing & development, social media, new technologies, and entrepreneurship. You may connect with him on Facebook, Twittter and LinkedIn.

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