True P&L?—?an introduction.
True P&L?—?an introduction.
The Covid-19 pandemic that hit the world in 2020 was an eye-opener for many people. Considering that economies came to a halt, businesses stopped operations, traveling was suspended, and even people could not leave their homes, they had to look for ways to adapt and survive to the new normal. Many people began to spend more time online; a lot of them learnt about cryptocurrency and got interested. Interestingly, cryptocurrency may not be an easy investment plan for a beginner crypto investor, as they may not know about the dynamics involved in trading and making good trading decisions and choices based on trends and analytics.
The Problem
It may interest you to know that crypto trading is a very volatile venture, and sometimes it can be profitable, and on some occasions, it may result in losses if not handled properly. Not being able to predict the market can be a hard nut to crack for beginner traders and those who are not experienced in crypto trading.
To understand the crypto market properly, it is imperative that the individual performs in-depth analysis about the market and trades, as well as understand the various parameters involved in the operations. This is not always an easy task even for the professionals, as it could take a lot of time and resources to get it right, and it’s even worse for people who are involved in so many other activities and may not have the time to get down to studying and analyzing the market and trends.
The Solution: True P&L
The world keeps evolving, and it feels like a part of our evolution involves getting busier than before; everyone is always so busy, and we must do everything on the go, including grabbing bites. No matter how busy you are, your crypto investments should not suffer from lack of attention, and that is where True P&L comes in, because with the platform, users can go about their businesses while it uses automated crypto trading bots to perform trading operations on their behalf.
With True P&L, users can earn passively without breaking a sweat or performing the daunting task of analyzing crypto market data. This is the 4th industrial revolution that is bordered on cyber-physical and automated systems, and so it should not come as a surprise when you hear or read about different types of automated systems, including what you did not think could ever become automated.
True P&L is designed to help users create trading bots that perform their operations according to technical analysis-based crypto trading logic, as well as analyze their previous performance, setup the required parameters that are in line with the conditions of the current market and be totally responsible for the execution of the trades.
True P&L Bot Architecture
The automated bot-controlled crypto trading system of True P&L is divided into three major categories:
- Signal Generator
This is used to track crypto market prices, process information such that signals are generated, and then send the signals. The bot uses TradingView, an effective and efficient platform for signal generation.
- Risk Management
We are well aware of the fact that crypto trading is filled with so many risks, and professional crypto traders are always looking for ways to mitigate risks and make them as minimal as possible. However, with the True P&L’s automated risk management system saves users the trouble of getting involved with risky trades that could result in losses.
- Execution
This part of the automation intends to bring profitability to the user through limit/market orders, slippage, commissions, and other significant parts of the crypto trade.
Features
True P&L comes with different features to give users a seamless automated crypto trading experience, and these features include:
- Portfolio Tracker
Users do not have to keep shuttling through different platforms to access their accounts, as they can access all their accounts from one place with the True P&L system. The portfolio tracker also performs operations like analyzing your trading history and improving based on successful trades of other professionals within the crypto trading market.
- Automated Strategies
The trading strategies are fully automatic, and it is not complex to start especially for beginner traders. Furthermore, operations are dependent on strategies that you approve.
- Control
People are usually skeptical when they see or hear the word “automated”, especially when it has to do with their funds. With True P&L, you are in total control of your funds 24 hours 7 days, and all your funds are saved on your exchange account where only you have access.
Robo-trading is a new way to get involved in crypto trading without going through the hassles of analyzing, monitoring, and tracking crypto market trends. True P&L makes it possible for the trading positions and strategies of expert traders and top performers to get copied by the platform’s bot and used for your trades. The strategies involved are based on different parameters and variables including the trades’ profit/risk ratio when it is at its peak, as well as indicators for technical analysis.
As mentioned earlier, some skepticism follows automated systems, and at the center of these skepticisms is the question about the safety of automated trading systems. In the case of True P&L, it is important to note that the system is secure and safe, according to the standards of the OWASP. It may interest you to know that private data like the users’ API keys are safe and are only retrieved when performing analytics and trading operations.
Getting started with the True P&L program is very easy and takes only a few steps; the idea is to make robo-trading as easy as possible, while also ensuring that user data and funds are always kept safe. True P&L is like the difference between driving a manual transmission car and an automated self-driving car; you just tell it what to do, and it takes care of the job on your behalf while you attend to other pressing issues.
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Text source: Stories by Boss95rnd on Medium
