When it comes to trading with Cryxbo, one common question arises: Do I need to assist the robot in any way? The answer lies in understanding the core principle of Cryxbo – automation.
The main idea behind Cryxbo is to streamline the trading process entirely. The best assistance you can provide is to ensure that there are sufficient funds available on the cryptocurrency exchange and then let Cryxbo take care of the rest. Once the necessary funds are in place (you can refer to our article on determining the optimal fund amount), there is typically no further intervention required.
However, for advanced users who wish to optimize their trading strategy, there are a couple of options to consider:
- Monitoring Market Trends: Keep an eye on the market trends, especially if there is a rapid increase in prices for specific currency pairs over a prolonged period. In such cases, it may be prudent to consider stopping trading for that particular pair. History has shown that what goes up often comes down, and trading at higher prices increases the risk of significant drops.
- Adding Funds and Manual Positions: During extended periods of market downturn, if positions remain open for an extended duration (more than a week), you can contemplate injecting additional funds and manually opening positions to lower the average price for the currency pair. This approach can facilitate faster closure of positions with potentially larger profits.
In essence, while Cryxbo operates autonomously, advanced users have the flexibility to fine-tune their trading strategy based on market conditions. By understanding when to intervene, change currency pairs, stop opened positions and when to let Cryxbo run its course, you can maximize your trading potential and achieve best possible results.