What is an API trader? An API links a trader’s account with a broker’s automated trading system to execute trades quickly and efficiently, and to perform algorithmic (algo) or programmable trades in certain scenarios.
What is API mean in crypto? An application programming interface, or API, is a piece of code that allows two applications to share information.
How does a trading bot work? A crypto trading bot can execute trades automatically by interacting directly with a cryptocurrency exchange; placing buy or sell orders when certain predetermined conditions are met. Essentially, bots use technical indicators — which are based on mathematics relative to price movements — to make decisions.
How do you automate API trading?
- I. Build trading strategies you wish to automate.
- II. Filter brokers with relevant trading APIs.
- III. Rank brokers and select the best fit.
- IV. Open a demo account and sign up for the API.
- V. Set up the API and start with sample codes.
- VI. Test your strategy for 2-3 months.