In this article, we will discuss the best crypto trading bot for scalping trading with the best track record.
We have to divide this into several questions like
- List: Best crypto scalping trading bots
- What is a scalping crypto trading bot?
- What is an ai crypto trading bot?
- What is a track record?
- Risks with ai crypto trading bot for scalping trading and track record
- Pay tax on crypto trading
List: Best Crypto Scalping Trading Bots
Below, you can see the list of crypto scalping trading robots, some with an ai function.
What is a crypto scalping trading bot?
Crypto trading scalping strategy is a trading style that focuses on profiting off of small price changes and making a fast profit off reselling.
In crypto day trading, scalping is a term for a crypto trading strategy to prioritize making high volumes off small profits.
Important bullet point on scalping trading
- Crypto scalping traders need a strict exit strategy. This is because one significant loss could eliminate the many small gains the trader worked to obtain.
- It´s essential to have an accurate and fast live feed.
- Scalping also requires a fast crypto exchange with high trading volume.
- With frequent trading and small profits, you want to search for the crypto exchange with the lowest crypto spot trading fees.
In the crypto trading grid above there is an example of a crypto scalping trading bot. Here, you can see how crypto trading bot profiting off of small price changes and making a fast profit off reselling.
Coinrule scalping trading bot
Coinrule has several different scalping trading bots. Coinrule is a very famous crypto trading bot platform since anyone can create a trading bot, and no coding skills are required.
In addition, there are many pre-programmed trading bots. See the full list in the table.
Scalping dips (A trading bot for volatile times to buy the drops and take advantage of the rebounds.)
Trend following scalping (A conservative trading bot following trends and scalping with loss protection.)
Wunderbit scalping trading bot
Wunderbit has a free Tradingview crypto scalping bot strategy published on their platform.
As you can see from the link above, Wunderbit has a few free trading bot strategies published on their site.
CryptoHero scalping trading bot
CryptoHero is a crypto trading platform where you can program from your phone easily with no coding skills required.
CryptoHero offers a free crypto trading bot plan, including
- One active bot
- Risk-Free Paper Trade
- Unlimited Connected Exchanges
- Unlimited Trading Limit
- Unlimited Positions
- No Sharing Of Trading Data To Exchanges
B-cube AI scalping trading bot
B-cube ai uses AI-driven crypto trading bots that allow traders to connect to their favorite exchanges and start trading on auto-pilot.
The crypto trading bots use Technical Analysis, Sentiment Analysis, and Complex Mathematical Models, following a scientific approach to Quantitative Finance.
Sentiment Analysis analyzes social media posts to determine trends in specific cryptos.
What is an ai crypto trading robot?
An ai crypto trading robot is a crypto trading bot leveraging an ai function.
AI systems generally work by ingesting large amounts of labeled training data, analyzing the data for correlations and patterns, and using these patterns to make predictions about future states.
In trading, an AI platform can identify complex trading patterns on a massive scale across multiple markets in real-time.
So, an AI crypto trading bot can find too complex patterns for a human being. In addition, the AI would be able to make decisions based on those patterns and not only on a set or pre-programmed set of rules, as is the case for ordinary crypto trading bots.
What is trading track record?
A trading track record is a historical performance of a trader or a trading portfolio.
What is considered a good track record in trading?
First, we must explain that it´s not only crucial with high ROI; you always have to take risk into account. Risk can be measured as volatility (maximum drawdown). Also, we have to compare with something other than 0% ROI, such as a stock index. The stock index is easy to access from most parts of the world and has high trading volumes, so most traders can follow the index.
Making 25% per year annualized with low correlation to the market for three years, with a 10% maximum drawdown, and being profitable 90% of the months (Up 33 months out of the last 36) is an example of a fantastic record.
Risks with ai crypto trading bot and scalping trading
There are some risks with AI crypto trading bots and scalping strategies, even if the track record might be good.
What are some of those risks?
- Just because it´s, AI doesn’t mean it´s profitable.
- Just because a crypto trading bot has a solid track record historically, it doesn´t mean it will perform well in the future.
- Even if you have a trading bot with predefined rules, it might not act as you predict. There are always bugs and misunderstandings.
Pay tax on crypto trading
In most jurisdictions, you must pay tax on your profitable crypto trades.
Since a crypto trading bot can make several trades per minute, it can be time-consuming to manually sort out all the taxes.
However, there is excellent crypto tax software to automate this process.
We have discounts for the best crypto tax software on the market.