Why trade algorithmically?
Oct 27, 2022
10:00 AM

One of the features of UpBots we are most proud of is our algorithmic trading bots also referred to as algo bots. There are many ways to go about reaping the benefits of the crypto market via algo bots, a lot of which will probably be quite contrasting to the usual methods, for someone coming in to discover algo trading just now. These ways offer their own benefits, some of which can be even turned into a lifestyle, if you manage it well.

In today's Academy we are tackling algorithmic trading: all the ways you can do it, and all the ways you can benefit from it, by doing it with UpBots!

Buckle up, and read on, how you could even trade while away from your workstation!

Creating or renting?

When coming into algorithmic trading, you will have the chance to choose your own path to approach the market. One of the ways is creating your own algorithm. 

Creating an algorithm can prove to be quite a difficult task, as besides having to master trading's technological background - just as you would trade manually - on top of that, you will also have to learn the language of programming bots.

Commonly, this language will be Pinescript, which is built into the Tradingview platform. Pinescript is a simple language to learn compared to other more widely used ones, such as Python or Javascript.

Another part of creating your own algo bot is of course backtesting the behavior of the bot, to analyse if the results are as you have intended them in the first place.

For those who would prefer less of a challange, UpBots offers an option to rent as well, which allows you to skip the creation and the backtesting part. This way you can get right into trading crypto!

Advantages of algorithmic trading

Algorithms are not affected by emotions One of the most crucial part of trading is being able to alleviate any emotion that could cloud your judgement, be it anxiety or boundless optimism. Unlike human traders, bots do not have a survival instinct and will proceed to open a trade, when it's parameters signal green, uninfluenced by results of the past. The lack of emotion in the bot allows us to follow a pre-planned strategy, without any distortion, resulting in missed opportunities.

Trading algorithms can not be distracted. Ever. I'd tell you to look around your room or the place you are reading, but I'd probably lose you right away to one of the millions of bits of info that are vying for your attention at this very moment. Now how's that for a distortion in the strategy? Thankfully, algorithms can not run into this same trading issue, and are ready to trade 24/7.

Algorithms are faster, and do not miss a chance It's not uncommon for a high level algorithm to preform even up to thousands of transactions per second. These bots although reserved for large investment funds, still, even simple bots will always out preform human traders. 

Higher speeds help you enter at the best prices, without missing an opportunity before a peak.


For traders who are looking for new challanges, creating your bots via our brand new Bot Creator will probably provide satisfactory results. On the other hand for those, who would rather get right into the action, UpBots offers algorithms completely free! 

Do you feel like wanting to see more already? What are you waiting for?