TLDR
Trading Bot is a software program interacting directly with the software of exchanges through a dedicated protocol. It commonly uses the application programming interfaces (APIs) for obtaining and submitting the essential information. Trading bots make their decisions through monitoring of the market price movements, while acting based on preprogrammed set of rules. The initial use of the trading bots in the cryptocurrency markets focused on the night-time periods. The bots were acting as the safeguards during these periods to prevent major losses on the account. However, the actions of the traders using bots could be unethical, but definitely not illegal.via the TL;DR App
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Written by intellectsoft-blog | Intellectsoft is a boutique digital transformation consultancy headquartered in Palo Alto.
