Do you trade with a plan? How many times have you gone back on your trading plan? Was it worth it?
Well.. perhaps it is time you go full on with API trading. Continue reading while we digest some of the common issues and address some of the benefits of setting up your trading bot with Lykke.
Have you ever found yourself in the critical moment of a trade where your gut feeling tells you to exit your position and then moments later you regret having listened to your gut? Well, those moments are common in inexperienced or emotional traders. This overthinking of trade leads to overtrading which may translate to trading losses. The gut feeling is a double-edged sword, meaning you could have been right, or you could have been wrong.
API trading is known by many names - Algorithmic (algo) trading or High-Frequency Trading (HFT) amongst them – and is a form of trading that allows you to remove the emotional factor from the equation. This is achieved simply by instructing a computer how to trade and what strategy to follow. This type of trading allows you to trade multiple assets at the same time while using different strategies, helping you with portfolio diversification. How many assets can you realistically efficiently follow up without losing efficacy? This concern does not exist with algorithmic(algo) trading.
The word algorithm may look like a strong word, but it is, in fact, harmless. Like with everything in life, there is variety, and you can use anything from broad pre-defined strategies or you can build your own. Complexity is a choice in this regard. An algorithm can be as simply defined as setting some basic rules to follow such as buy X when Y reaches this point, and sell X when Y reaches that point. The details of course will depend on your creativity and tech skills, but a simple scalping trading bot really does not require that much work (just saying).
Lykke’s ecosystem aims to enable people to trade from anywhere and anytime, democratizing finance by giving access to financial tools that are commonly accessible to the big players. By lowering the barriers for market entry, solving inefficiencies of the current economic system, and democratizing access to digital assets, Lykke is bridging the gap between traditional finance and blockchain.
In a world where knowledge is widely spread thanks to the internet, we believe that everyone can learn and benefit from API trading. Human nature dictates that people are generally afraid of the unknown. As a result, API trading is a subject that is mostly rejected by people who believe it is too complex or that they lack the knowledge or time to learn. We believe that everyone has the potential to learn, you just need to start somewhere, so why not at Lykke?
Lykke is a Swiss-based investment and financial product provider leveraging the power of the blockchain. Lykke runs a proprietary exchange — Lykke Wallet — where clients can buy, sell and store a large variety of tokenized assets, amongst them cryptocurrencies, national currencies, native tokens but also investment products.
How to buy Cryptocurrency with Swiss Francs (and without Fees)
Picking Richard’s brain
Richard is a pioneer in high-frequency finance. With Lykke, he pursues his ambition to transform financial markets into a seamless ecosystem resolving the inefficiencies of the current financial system.
In the first segment of this short interview, Richard shares with us his views on financial markets’ fairness, the key factors for success in trading and API trading.
Do you trade with a plan? How many times have you gone back on your trading plan? Was it worth it? Well.. perhaps it is time you go full on with API trading. Continue reading while we digest some of the common issues and address some of the benefits of setting up your trading bot with Lykke.
How decentralized is the Bitcoin network nowadays?
Do you like Bitcoin because of its decentralized authority structure? Or perhaps you are interested in conspiracy theories? Well, in any case, take a big breath while we dive into one of the most interesting topics surrounding the Bitcoin network where we try to answer how decentralized is the network nowadays and what led us to this point.
The Value of Bitcoin
Unless you took the self-isolation to the extreme and you ended up practicing social media abstinence, you are assumedly aware of some of the recent events that allegedly led Bitcoin to the all-time highs we are all currently enjoying. So take a big breath while we break down the recent events of the crypto world and what they mean.