A trading bot is a computer program or application that trades currencies, cryptocurrencies, indices, or stocks for you based on predefined conditions. Most trading applications work in a straightforward manner. You authorize the bot to buy or sell an asset if and when it reaches a specific price point or indicator. Your bot then takes care of placing and executing your order so you don’t need to monitor your platform all day to see when these price movements are reached.

You can customize bots to execute orders according to your unique trading strategy. For example, you might instruct your bot to sell a lot of coins at a price of $10 and buy them back if the price falls back to $9.