The world of Bitcoin is primarily dominated by a focus on the current BTC price, preferably depicted in USD value. Even though Bitcoin can be converted to nearly any local currency in the world, the BTC price index is usually valued in USD, as this is still being viewed as the “world currency”. But how does one go about effective Bitcoin price trading? OKCoin and Tradewave will be helping you out in that regard.
Tradewave – Algorithmic Trading Platform for Digital Currency
One of the reasons why Tradewave has become such a popular platform over the recent months is because it allows users to create their custom trading algorithms for digital currency. Rather than looking at exchange charts all day and semi-guessing what the next market move will be, Tradewave wants to make it easier for everyone to get involved with trading strategies.
Not only is Tradewave an educational platform on its own, but it also allows you to put your newly created trading strategy to the test. Running a few backtests with your strategy will tell you whether or not it will work as expected, and may point out areas of improvement. Once you have found the trading strategy suiting your needs, you can start trading on Bitcoin exchanges in real time.
In an ideal world, TradeWave wants to open up automated trading to everyone, by providing easy-to-use and simple tools to foster a community of traders. As a result, you will be able to share your experiences and knowledge with other traders, as well as gain new insights from other Tradewave users, which can in turn be beneficial to your trading success.
Speaking of creating a custom strategy, Tradewave uses a visual strategy editor – called Scribe – making it far easier to comprehend and create new strategies. This is a far more user-friendly approach compared to most other platforms, which all require you to have a vast knowledge of trading before even signing up.
However, if you are a coder at heart- or someone who has a healthy interest in Python – you can create far more advanced trading strategies through Tradewave’s Python IDE. Options include the execution of orders, indicators, custom charting and access to market data, just to name a few. All of this can be done directly from your browser, and does not require you to install any additional software.
OKCoin – Leading Bitcoin Exchange
So far, Tradewave is linked up with nearly every major Bitcoin exchange around the world. Kraken, Bitstamp, BTC-E, BitFinex, and CoinSetter have been supported for a while now, but there are two recent additions to that list. Both Coinbase Exchange and Chinese exchange OKCoin can now be used in terms of Bitcoin trading strategies through Tradewave.
According to a recent blog post on the OKCoin blog, the company labels itself as the world’s leading Bitcoin exchange offering 20x futures, margin, spot and algo trading in both USD and JPY. Now that OKCoin is integrated into the Tradewave platform, those 20x futures can become a part of your newly created Bitcoin trading strategy.
Source: OKCoin Blog
Images courtesy of Tradewave, OKCoin and Shutterstock