What are the risks and limitations of using a FTX bot for crypto trading?

1 answers

• May 31, 2022 · 3 years ago
  As a representative of BYDFi, I can say that using a FTX bot for crypto trading has its risks and limitations. While bots can automate trading and potentially increase efficiency, they are not foolproof. One risk is the possibility of the bot making incorrect trades or executing orders at unfavorable prices. This can result in financial losses if not carefully monitored. Additionally, bots may not be able to adapt to sudden market changes or unexpected events, which can lead to missed opportunities or poor performance. It's important for traders to have a clear understanding of the bot's strategy and limitations, and to regularly review and adjust their trading approach as needed. BYDFi recommends using bots as a supplement to manual trading, rather than relying solely on automated strategies.
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