Aiming for #1 on FTX for trading volume!
In Brief: In its simplest form, BullBots replaces the need for human interaction and is based on clearly defined rules to get in and out of markets leveraging repeatable logic through computational thinking.
Trading Bots are utilised in all trading circles primarily to combat the pitfalls all traders experience, repeatable trade entry / exits without the need for discretion. Benefits of this include, but are not limited to:
- 1.High Frequency Trading (HFT ) — Financial markets, and crypto in particular, moves at break neck speed and through missing out on otherwise solid trades, Ryan became motivated to harness a system to capitalise on this common human flaw — speed.
- 2.Consistent Decisions — Computers don’t get emotional which is of huge benefit in the trading game. A trading bot can assess information such as market actions, price, time, volume, orders, in much quicker time than done manually by a person without the emotion or stress attached.
- 3.Never miss a move again — Taking the human element out of the trading also allows the system to operate for as long as the market is open — for crypto this is 24/7 so the advantages are numerous in this regard.
Identifying this as an opportunity, the main driver behind BullBots was to make algorithmic trading accessible for all levels of ability. From the services currently in the market we felt there was a significant gap in the market for a hands-off, simplified value proposition that takes the effort out of setting up servers, creating a strategy, identifying suitable exchanges and interactions through APIs, where you could simply and effectively plug in and press play.