According to research by Deloitte, it’s thought that 70% of new hedge fund launches in 2018 will use computer supported investment processes. That includes using things like A.I. and machine learning to make trading process easier and more effective.
It’s clearly becoming more and more important for traders to turn to technology for that all-important edge. In fact, this is even more important in the world of cryptocurrency trading. Given 24/7 market, which is inherently tied to the world of tech, crypto traders have a lot to gain by adopting trading algorithms, and a lot to lose neglecting this area.
The thing is, using technology on this level is possible if you’re a millionaire or a financial firm — not so easy for most ordinary individuals. That’s because building algobots – algorithms which work automatically – is a tough process, most people just aren’t qualified for. Surprising enough, but it is possible, and some platforms even want to make the process easier and more accessible for everyone.
Importance of Algorithms
Of course, most people just don’t know how to code well enough to build a decent, working algobot. One might know a good programmer with the necessary skill set, but how likely are they to help out for free? The chances are that it will come at a price.
That’s why most people, daunted by the cost as the main barrier to entry, opt to struggle along on their own through the world of crypto trading. That’s not ideal, because crypto can be an unforgiving marketplace.
Crypto markets are notoriously volatile, often experiencing huge shifts in value very quickly. What’s more, unlike traditional markets, they never stop — operating on a 24/7 basis. For those, who trade without algobots, these two factors alone create quite challenging situation, as huge value shifts in crypto can happen – quite literally – overnight, when no sane person is going to be monitoring their trades.
What’s more, human impulse and recklessness often serve major cause of trading mistakes. It’s the reason why big financial firms automate so much — humans just aren’t that reliable.
It’s also all-too-easy to lose track of trades and forget to take important action, especially when you have a life outside of trading to attend to. For these reasons and more, automation makes things significantly easier and helps avoid the likelihood of disaster.
But it’s extremely difficult and expensive to get to a point where one can rely on algorithms to a meaningful extent. At least, that was the case until now. But what if building algobots could be done without any real coding skill at all?
Full Automation of Crypto Trading
This is where platforms like Capitalise have entered the game. This tool allows people with no coding background at all to build and design algobots and their own personalized automated trading strategies.
The platform is very simple: users simply enter their instructions in plain English and the SaaS program takes care of the rest, building and compiling one’s own automated strategy and then connecting it to an exchange of choice in one click of a button.
This is a game changer for individuals because automation is something that was reserved to professional traders until recently, and is now a publicly open beta.
In the future, it’ll be possible to package successful algobots and sell them to other users of the platform. This way, talented traders can monetize their success further and help others.
The solution helps leveling out the playing field, so that successful trading of crypto is no longer restricted to the rich and influential. Ordinary people can take advantage of the same methods that powerful organizations use to trade, and experience much greater success than they would on their own.
For anyone involved in crypto trading, adopting algorithms could make the difference between failure and success, and it’s never been so easy.