Monero trading bot
The Monero (XMR) trading bot is programmed to make cryptocurrency trading easier and to give individual traders an edge over one another.
Set up bot
How to launch bot for Monero?
After connecting to your exchange, the trading bot sells or buys coins based on your pre-set instructions, technical analysis signals, and market conditions. So it trades and monitors the market for you, but only according to your strategy.
If you use an XMR cryptobot to trade, you'll probably want to be able to place several orders at different market conditions and do it faster than other traders to get a competitive advantage.
Monero (XMR) trading
As of writing (30.03.2022), the coin is #42 in CoinMarketCap rating based on market capitalization of {3,992,991,538}$.
Now, with the current Monero value of $220.61, you might be wondering why you should trade the Monero (XMR) coin.
According to forecasts, Monero price will continue to grow throughout 2022 and by the end of the year we might see it go above the $300 level. Moreover, by the end of 2023 it might reach a level of $500 per coin. So what’s special about this coin and does it have a real use-case?
The crypto market's response to Bitcoin's lack of anonymity was the introduction of Monero. For a long time, Bitcoin transactions were thought to be anonymous. In fact, there are plenty of tools and services available to help identify who is behind certain Bitcoin transactions.
Monero places considerable emphasis on anonymity. No one can link you to a Monero cryptocurrency transaction since the coin uses advanced encryption features. Surprisingly, this technique allows the Monero blockchain to send and receive transactions while obscuring the data from prying eyes.
Several benefits of Monero trading bots include, but are not limited to: Bots buy and sell based on market calculations and analytics, and they are unaffected by emotional swings and fatigue. Furthermore, they are faster than manually placing an order on exchange and they work 24/7.
How to choose an exchange
TradeSanta strategies you can use to trade XMR
DCA strategy
Dollar-cost averaging strategy is when a bot purchases (in long strategy) or sells (in short strategy) an asset in smaller increments rather than everything at once. It allows you to spread the risk in case the coin price goes opposite to your expectations, also it allows you to lower the average price of entry (for long strategy) or increase the average price of selling (in short strategy) thus allowing you to be able to get the same desired profit percentage at a smaller price rebound.
For a long strategy, DCA bot first buys cryptocurrency and later sells it at a higher price.
For the short trading bot, the first order would be a sell order, and the TP order would be a buy order at a lower price. The dollar-cost averaging bot places the first buy order and extra orders if the price goes in the opposite direction of the strategy chosen.
DCA Long strategy
DCA Short strategy
Grid strategy
The GRID trading strategy, unlike most other trading strategies, works best in a market that is ranging sideways with no distinct direction. It profits from a market's price movement's highs and lows, and it works best when there is no discernible up or downtrend for a lengthy period of time. The grid strategy becomes increasingly profitable as the frequency and amplitude of price swings increase. Grid trading strategies, to put it another way, produce a grid-like formation by scheduling or setting up buy and sell orders in a predetermined price range.
Grid Long strategy
Grid Short strategy