How Automated Trading Eliminates the Trader’s Emotions
Automated or algorithmic trading is a popular choice among currency traders as it has many positive aspects compared to “traditional” day trading.
To successfully trade currencies, you have to possess various skills, such as knowing how to use different technical indicators, several months or years of experience along with being informed of the currency market and the recent trends. The traditional method, day trading, in which you sit in front of your computer and trade the currencies by yourself (manually), also requires the trader to minimize or eliminate his emotions - or at least those certain emotions that are holding back him from performing successful trades.
This psychological part of currency trading could be considered as hard as learning how to trade along with gaining sufficient experience in trading. It is extremely hard for one to stay clear of emotions when a trading position is in a serious downtrend.
Fortunately, as the technology is advancing, currency traders do not have to rely only on traditional day trading techniques. Automated trading, being a popular choice among traders, cuts back emotions so traders do not have to worry about how their positions are doing. Furthermore, as emotions are minimized - as the bots are doing all the trading -, the bad decisions influenced by the trader’s emotions are eliminated, thus, the trader can preserve his discipline.
The most common mistakes influenced by emotions include the fear of taking a loss, the desire to eke out more profit from a trade, entering trades to often or/and at the wrong time, being too greedy, and many more. Automated trading takes these all away!
Automated crypto-trading platform Gimmer utilizes advanced algorithmic trading bots to trade on the continuously growing cryptocurrency market. Gimmer’s bots eliminate the emotions of the trader along with giving him the chance to trade cryptocurrencies while the bots do all the trading. In contrast with other automated cryptocurrency trading platforms, Gimmer requires no programming skills or previous trading experience from the user. Read more about Gimmer and its advanced algorithmic trading bots!
Gimmer will hold a Token Sale to further develop the platform. The Gimmer Public Token Sale will start on February 1, 2018, head to the Gimmer site for more information or read our whitepaper. Do you have any questions regarding Gimmer? Join us on our Telegram group!