Cryptocurrencies - the market is relatively young and promising. You can earn a lot if you approach this with mind.
We make software for trading on Bitmex (and then on other exchanges) and would like to ask you, traders, what would be useful for you? We will definitely share the results!
The ideas are as follows:
1. Risk control
Risks are your airbag. This is the control of your losses in one transaction, in one day, month, this is the number of losing deals in a row - do you follow these indicators? Risk management minimizes losses and creates the basis for systematic profitability.
You set loss limits for your account(multiple accounts) - for example, the maximum drawdown, the number of losses in a row, the risk per trade, and the application monitors your results and, when limits are reached, sends you a notification. Profit: automation of loss control = saving time, increasing profits due to effective control.
2. Smart feet
Do you forget to put stops? Don't want to think about them at all?
When setting limits (risk control - described above) you automate the stop function - in other words, you can not think about them. They themselves are set based on your limits. Profit: you have more time, no Problems with a forgotten or incorrectly set stop.
3. Collection of statistics
Do not keep statistics? Or do you drive it by hand, and how long does it take? Statistics plays the role of an auditor in trade (as in funds that, by the way, systematically earn, coincidence?) - shows the course of trade, weaknesses and strengths. It is irreplaceable if you want to earn big money.
The application has detailed statistics on your trade, the data is presented in a convenient form, the information is updated. You can track data from multiple accounts. Profit: automation of statistical reports = convenient analysis of trade without collecting statistics “by hand” + you can show beautiful statistics to the fund if you take it in the remote control.
4. Recommendations based on your statistics
Any strategy should be adjusted in a timely manner - because the market is changing.
Based on the collected statistics, you will receive recommendations regarding your trading strategy (for example, position size, stop ...). Profit: effective timely adjustment of strategy = profitability.
Write the numbers in the comments! Your options are welcome!