Should you use an automated advisor when trading cryptocurrency?

Cryptocurrency pairs are characterized by enormous volatility, their price changes by tens of percent throughout the day.

Trading cryptocurrency is quite difficult and time-consuming, so many traders reasonably ask: why not entrust this type of trading to a trading advisor.

A well-tuned robot will allow you not to spend a lot of time behind the computer screen, and should bring high profits when trading cryptocurrencies.

After all, the technique of trading cryptocurrencies is practically no different from the technique of working with conventional currency pairs, so why not use an advisor.

Moreover, almost all indicators designed for standard assets also perform well on digital currency. And the work of advisors is precisely based on the signals of these same indicators.

But in practice, not everything is so rosy, most advisors trade differently even on currency pairs, so you will have to go through dozens of scripts before you find a profitable one.

For example, of the advisors that are available in my trading platform, not one showed normal results on cryptocurrencies:

The result is slightly better on the D1 time frame, but even here the profit is minimal and amounts to no more than a couple of percent per annum.

The most effective option would be to write a script yourself or order a custom script to be made to order, but for this you need to competently draw up a technical task for the programmer.

No one will guarantee the profitability of a ready-made robot; the exchange rate of cryptocurrencies changes at tremendous speed and it is quite difficult to take into account all the nuances when creating a trading robot. Therefore, if the algorithm fails, the robot will quickly drain your deposit.

The most appropriate option at this stage would be to trade using pending orders with simultaneous setting of stop loss and take profit. This option will be less risky than using advisors.

At the same time, although I personally have not yet found an advisor for cryptocurrencies that I could recommend for use, there is nothing stopping you from trying to find one yourself.

Before starting use, it is strongly recommended to thoroughly test the found robot on cent accounts or accounts with a minimum deposit.