In the fast-paced world of cryptocurrency trading, staying ahead of the curve can be challenging. Fortunately, with Cryptorobotics’ Autofollowing feature, traders can automate their strategies and let advanced algorithms handle the heavy lifting. Whether you are a novice looking to enter the market or an experienced trader seeking to optimize your workflow, Autofollowing offers a powerful solution to automate and streamline your trading process. Here’s how this innovative tool works and how you can leverage it to increase your profitability.
What is Autofollowing?
Autofollowing is an automation tool that allows traders to follow expert trading signals and let a bot execute trades on their behalf. The system is designed to combine the expertise of experienced analysts with the speed and precision of trading bots, offering a hands-free trading experience. Once you’ve set up the system, the bot automatically places trades based on the signals provided by analysts, and you can sit back, relax, and track the results.
Setting Up Autofollowing: A Step-by-Step Guide
To start using Autofollowing, follow these simple steps:
Access the Algotrading Section: Log in to your Cryptorobotics account and navigate to the Algotrading section. From there, choose Autofollowing from the menu on the left.
Explore Available Channels: You will be presented with a list of trading channels that you can subscribe to. Each channel provides valuable performance statistics, such as:
Cumulative Return: The total return of the channel over time.
Number of Trades/Signals: How many signals have been provided and executed.
Exchanges Used: The platforms where the trades are executed.
Subscriber Count: How many traders are using the channel.
Subscription Price / Profit Sharing: The cost of subscribing or the percentage of profits taken via the Profit Sharing system.
Review Detailed Statistics: Click the View Statistics button for more in-depth information about each channel, including:
Average Profit per Signal: The average profit for each signal over the past year.
Win/Loss Percentage: A chart showing how often signals lead to profitable trades.
Strategy Breakdown: Channels offer different strategies (conservative, moderate, risky), and you can see the success rate for each one.
Cumulative Profit Growth: A graph showing the total growth of profits over time.
By reviewing this data, you can select a channel that best fits your trading goals.
Subscribing to a Channel
Once you’ve found a channel that fits your preferences, you can proceed to subscribe by clicking the Subscribe/Connect button. After this, you’ll have two options for payment:
Fixed Subscription: Pay a fixed monthly fee to access the channel.
Profit Sharing: Instead of paying upfront, the platform takes a percentage of your profits after successful trades.
After subscribing, the settings window for the channel will open automatically. You can customize your preferences and start using Autofollowing right away.
Customizing Your Autofollowing Settings
Once you’re connected to a channel, you can tailor the settings to your preferences. The key options you’ll need to configure include:
Exchange API Key: Select the exchange where your trades will be executed (e.g., Binance, Kraken).
Exit Strategy:
Fixed Target Exit: You can choose to exit trades at a predetermined target.
Ladder Exit (Partial Sale): Distribute the trade into portions and exit at different targets. The sum of the portions must equal 100%.
Ladder Trailing: This feature adjusts the Stop Loss (SL) as each new target is hit. For example, when you reach Target 1 (T1), the SL will be moved to break-even, and when T2 is reached, the SL moves to T1.
Coin Selection: Choose the main coins you’ll be trading (BTC, USDT, ETH, or all three).
Balance Allocation: Define how much of your balance you want to use for trading.
Lot Size: Decide on the size of each trade or the number of lots to trade.
Leverage: For futures trading, set the maximum leverage you want to use.
Once your settings are configured, simply click Save and Start to activate Autofollowing.
Monitoring Your Results
After you start using Autofollowing, you can track your performance in the My Statistics section. This section provides:
Current Settings: The settings you’ve chosen for the active channel.
Profit & Loss Charts: Visual representations of your trading success, including win/loss ratios and cumulative profits.
Trade Statistics: Detailed stats for each individual trade, helping you assess performance over time.
Diversifying Your Portfolio
With Autofollowing, you can subscribe to multiple channels simultaneously. This enables you to diversify your trading portfolio, reducing the risk associated with relying on a single signal source. By diversifying, you can potentially increase your chances of success and create a more balanced trading strategy.
Benefits of Using Autofollowing
Automation: Save time and energy by allowing the system to handle trades for you.
Expert Signals: Follow the signals provided by professional analysts with proven track records.
Risk Management: With customizable settings like exit strategies and lot sizes, you can tailor the risk level to your preferences.
No Need for Constant Monitoring: Once set up, you no longer need to constantly monitor the market—let the bot do the work for you.
Conclusion
Autofollowing is a game-changer for traders looking to maximize profits with minimal effort. By automating your trading strategies, you can save time, reduce stress, and take advantage of professional signals provided by experienced analysts. Whether you’re just starting out or looking to enhance your current trading strategy, Cryptorobotics offers an intuitive and powerful solution to help you achieve your goals. With the ability to customize your settings and track performance, Autofollowing puts you in control of your trading journey — while the bot handles the execution.