What is Auto-Following and How Does it Work?

In the present world filled with digital awe and wonder, cryptocurrencies have become very popular these days.

Cryptos are changing all the time and it’s a place where the market pretty much never sleeps, which also means that no one can keep an eye on these assets all the time.

But, how can traders make any money trading cryptocurrencies?

Well, with the latest innovations in artificial technology, it has become possible to not only keep an eye on the market but it can also help traders make trades when the conditions are just right.

Cryptorobotics is one of the platforms that has been becoming more and more popular lately.

It allows its users to automate their whole trading process.

The users of this platform are also able to auto-follow these AI bots to make profitable trades of their own.

DID YOU KNOW?
Cryptorobotics’ headquarters are in the European Union (EU), Europe, the Middle East, and Africa (EMEA). And the platform’s business model is a subscription with a freemium option.

So, What does Auto-following on the Cryptorobotics platform mean? 

We all know that the Cryptorobotics platform allows traders to easily automate their trading process with the help of AI.

But, there is another feature that makes this trading platform stand out among others.

The auto-following feature allows users to trade on the platform using a bot.

These bots learn the patterns of profitable experienced analysts and other statistics to look for signals to make their trades.

This means that investors can now focus more on managing and optimizing their portfolios and not worry about their trades, as they will be taken care of by the bots.

How Does the AI Crypto Autofollowing Bot Work?

These bots are complex and work on some amazing principles, here’s what you need to know about crypto trading bots and how they work.

This bot uses AI to analyze and learn from signals received from expert analysts.

This means that before a trade can be opened, analysts analyze the market using technical and fundamental analysis. They then signal the bot to open trades and the bot in turn uses these signals as its cue to make trades.

And when you want to close a trade, the bot basically gives you two options:

1. Fixed Target Closure: This means that traders can choose any of the closing options to complete the trade.
2. Ladder Closure (Partial Sell-Off): This means that the traders can set up multiple points to complete trades. And, the partial sell-off option allows you to divide the trade amount into three different parts, each targeting different target points in the trade.

You know, this bot also has a trailing ladder function that rearranges the stop loss level when it reaches a new target point.

This means that the stop loss function can work in two different modes, the first one being the partial sell-off where the bot exits the trade as soon as it gets to the partial target point.

The second is the trailing option, where the bot modifies the stop-loss position at each target interval and waits for the final target to be reached.

How Do You Choose an Autofollowing Trading Bot?

The Cryptorobotics platform has a ton of channels filled with AI crypto trading bots.

So, before you start using an auto-follow channel, you need to make a detailed analysis of the bot.

Compare each bot and look for things like average monthly profit, the source of the signals, and the number of people following the bot.

Also, keep in mind the cost of the subscription or the profit pledge the bot will take to make the trades.

How to Start Using the Autofolowing Trading Bot

If you want to start using the auto-following crypto bot to automate your trades, then you first need to open up the auto-following section on the Cryptorobotics platform.

Here, you will be able to see a ton of channels, each with a summary statistic listed.

This gives you the ability to see what each bot is capable of and if it suits your trading parameters or not.

After you’ve settled on a bot, you can click on it and see a much more detailed overview of its trade statistics, like Win/Loss charts, strategy achievement percentages, total income growth, and signal frequency graphs.

These details can give you a better idea of if you should choose this crypto auto-following bot or not.

So, how do you actually start using AI bots?

1. You first need to register to create an account on the Cryptorobotics platform.
2. Now, log into your account, go to the ALGOTRADING section, and then choose the autofollowing option.
3. Look through the list of channels and compare their statistics, costs, and payment methods.
4. Choose a channel that fits in with your trading goals and then click on the Subscribe/Connect button and pay for the subscription.
5. Now, take a look at the analyst recommendations marked in blue and specify the main currency you want to trade with.
6. The next step is to choose the lot sizes, stop losses, and other things to help you with the process of risk management.
7. Now you can save and start trading to complete your settings.

How Can You Track the Statistics of the Autofollowing Trading Bot in the Channel?

If you want to follow the statistics of the bot in your channel, you first need to navigate to the “My Statistics section” and then subscribe to the bots you want to follow.

You can also follow multiple bots if you want to diversify your portfolio.

Conclusion

The crypto space is a complex place filled with highs and lows and it is impossible for anyone to navigate it.

Cryptorobotics AI and autofollowing crypto trading bots are some of the most innovative technologies used in the market.

They give investors a way to automate all their trading processes by simply subscribing to an AI trading bot.

These bots use AI and signals from expert analysts to call a trade in the market and the best part is that they can run 24/7.

This means that they can traverse through the complexities of the crypto market to make a profit

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