Trading bots are computer programs that use various indicators to recognize trends and automatically execute trades. While algorithmic trading software has been used by hedge funds in the equity, commodity and currency markets, trading bots for private investors first appeared in the foreign exchange trading space. They have quickly made their way into the crypto asset market. Ping ETH is one such bot, albeit not the most famous one.
PingETH is a cryptocurrency trading robot that aims to provide an up to date and efficient algorithm.
How To Get Started With PingETH?
Download: You can download PingETH on your personal computer but they only support Windows as of now.
Start Ping ETH: Adjust your settings, trade amount, risk management strategy and enjoy the profits made on your broker account.
Advantages Of PingETH
- Funds stay safe: All funds are safely held and protected in their trading platform. Funds can be withdrawn upon request.
- Fast trade execution: Trades are placed on the fastest trading platform available, giving the software an edge when catching pump & dumps.
- Diversified trading: Their platform is specialized to find profitable trades with over 8 different cryptocurrencies. Perfect for a diversified portfolio.
- Lifetime updates: To stay ahead of the game they continuously look for new tweaks and updates to make their platform the best in the industry.
Their fully automated systems put you in the trade with expert timing while screening out the false signals associated with the manual technical analysis. Types of indicators on the platform are:
- SMA indicator: A simple moving average (SMA) is an arithmetic moving average calculated by adding the closing price of the security for a number of time periods and then dividing this total by the number of time periods.
- EMA indicator: An exponential moving average (EMA) is a type of moving average that is similar to a simple moving average, except that more weight is given to the latest data. It's also known as the exponentially weighted moving average. This type of moving average reacts faster to recent price changes than a simple moving average.
- WMA indicator: A Weighted Moving Average (WMA) puts more weight on recent data and less on past data. This is done by multiplying each bar’s price by a weighting factor. Because of its unique calculation, WMA will follow prices more closely than a corresponding Simple Moving Average.
- BB indicator: Bollinger Bands consist of a center line and two price channels (bands) above and below it. The center line is an exponential moving average; the price channels are the standard deviations of the stock being studied. The bands will expand and contract as the price action of an issue becomes volatile (expansion) or becomes bound into a tight trading pattern (contraction).
If you are looking for a trading bot, it is recommended that you try out more established bot like Gekko, Cryptohopper, CryptoTrader, Haasbot, Gunbot or Zenbot. There have been instances where customers have complained about faulty software and flash crashes in Ping ETH.
The most important thing to highlight when it comes to cryptocurrency trading bots is that they are not a one-stop passive income solution that will make you money in your sleep.
Make a more informed decision by looking at their website on http://pingeth.com/ .