How does BankCoinBot work?
BANKCOINBOT
The BankCoinBot trading bot works on the "averaging with martingale" algorithm.
The main advantage of the Martingale is to allow you to achieve a take profit, occuring when orders with accumulated volume appear, in the event of each case of an order a little lowe. The Martingale strategy works very well in a demanding market, when pairs make small pullbacks from the main trading trend and come back.
Algoritm works very well on flat market when price is in a narrow price range. It performs well during the the market decline, but the market must go in waves and make better retracements.
The Martingale method was invented a long time ago, it used the game of roulette to multiply various bets. Only many years later, traders realized that this technique can be effectively used for profitable trading in the financial markets.
As a rule, most traders associate the Martingale method with something dangerous. And for beginners, this is generally one of the most popular horror stories. Of course, the use of the Martingale method in trading carries increased risks. Is there a safe martingale?
You won't believe it exists! Frequent use of the elements of "Martin" can increase the profitability of trading and even reduce the psychological burden on the trader.
How? Very simple! With the help of averaging!
This is what BankCoinBot does!
The averaging principle involves opening the first order in accordance with the application of the trading strategy. If the price chart did not live up to expectations and the order turned out to be unprofitable, then the bot does not close the entry and does not fix the loss. He waits for the protocol according to the rules of the strategy, in accordance with the first order, and sets the "take profit" at the level of disclosure of the first problem without consideration. When the second order is realized, the first one will be closed to zero, the second profit will be achieved.