Traders of all skillsets are falling in love with Trender, the new core feature of the Beaxy Exchange mobile app. Not only does it match you with trades – it enables you to brilliantly close positions by providing you with AI-powered signals based on proven predictive methods. Becoming a professional trader takes years of hard work. With Trender, you can trade like a pro with one simple swipe. Trender not only gives you good trading options, but provides you with additional information on how you should handle each trade.
What Beaxy Did to Make Trading Easier
Beaxy is a cryptocurrency trading platform that leverages artificial intelligence to connect traders with the best chart setups and pattern predictions from minute to minute to ensure informed, successful trading opportunities. The exchange offers assistive trading tools to provide its clients with highly personalized strategies that take the pain and guesswork out of trading. Although these tools and strategies are not new to the trading world, they are newly integrated with the world of cryptocurrency trading.
To further the Beaxy vision of making successful trading more streamlined and accessible, the exchange released Trender, a revolutionary swipe-based trading platform. Rookie traders no longer need to hang in the balance for years while they improve their technical analysis and charting skills. AI analytics do all of the heavy lifting so the user can focus on using the information to make an informed trading decision. The assistive trading tool takes comprehensive market analysis and distills it down to an easy-to-digest trade setup. Trender gives you a pattern, price forecast and reliability rating that you can use as a basis to open and close positions with confidence. When trading with Trender, you know the exact time and price level to enter and exit a trade based on the analysis performed by the artificial intelligence program.
Trender lives on the Beaxy Exchange mobile app and allows you to follow intelligent trade ideas just by swiping your finger to either initiate a market order or reject a signal if it is not preferable. On the Beaxy web trading platform, this feature is called Signals, and it is more comprehensive – allowing for traders to utilize multiple advanced order types in conjunction with the chart pattern being provided by the Signal.
Why this Matters to Traders
The long-time pervasive problem in the trading space has been asset markets maintaining remarkably high barriers to entry. This stems from the amount of capital, information and connections that were required just to gain access to a particular market. More recently, software has made accessing markets easier. However simply being a participant in a market isn’t enough when other participants have extra, faster information and capital advantage.
For the active traders that do achieve consistent profitability, they typically have years of painful losses in their past. Apps like Trender can save you immense time and resources on your journey to being a profitable trader by examining their losses in their journey to become profitable themselves.
Cryptocurrency Trading Keys to Success
Imagine a typical trader who is successful - no one can actually perfect all of the characteristics necessary to become successful. Profitable traders make a conscious effort to reduce their biases, fear and greed. They are also equipped with a heaping dose of discipline and self-control which enables them to do that.
Trading with a bias makes you believe that you can make predictions like a fortune teller. Fear will cause you to close positions much too early, and greed will keep you in them far longer than you should be. These negative traits contribute to realize losses much more often than they do gains. Human emotions are undoubtedly the biggest pain point for speculative traders. The key to successful trading is learning how to mitigate the effects of emotions on decision making. Traditionally, this would take years of hard work and constant refinements, now, Trender is your portal to emotion-free trading.
Beaxy’s Commitment to Make Trading Easier
Beaxy Exchange has been focused on these issues for years while honing the optimal solutions. Overall, these cutting-edge assistive trading tools exemplify Beaxy’s commitment to reducing information asymmetry and leveling the playing field between casual to advanced retail traders and institutional trading firms.
How Trender Works
Trender is like Tinder for trading. Swipe through charts for dozens of cryptocurrencies and access the professional-grade technical analysis and price targets that are automatically drawn on them. When you come across a chart for an asset and pattern that is appealing to you, swipe right to take the trade and follow the AI-generated signal. Be sure to make note of the forecasted price. You can enter a limit order at that price to ensure you are following the plan laid out by the artificial intelligence. You might also be shown charts for assets or patterns that you are not interested in trading - in this case, simply swipe left to pass on the trade and continue browsing the real-time selection of sophisticated trade ideas.
Getting Started with Trender
To get started with Trender, Beaxy’s assistive trading technology, visit Beaxy.com to download the mobile application and log in if you already have an account. Otherwise, you can sign up on the mobile app or desktop website.
Once you’ve got the app opened and logged into your account, hit the plus sign in the bottom right hand corner to go to Trender. Before you start swiping, take a few seconds to configure your filter. This will allow you to customize the types of cryptocurrency and charting patterns that will be shown to you.
When configuring the filter, select your preferred cryptocurrencies, timeframes and signal strength (reliability). You can choose to see every cryptocurrency that is trading on Beaxy or you can choose to only see the assets in your favorites list. If you are an active day trader, lower timeframe patterns will be better suited for your style. If you prefer to swing trade, look for the longer duration time frames. Now that your filter is set, you're ready to start swiping!