Among the many well-known Forex bots, TWAP deserves special attention. It is the brainchild of Pionex, which has an excellent reputation, huge investments, and over 100,000 regular users. In addition, the company is a broker and offers its clients 16 different Forex robots.
TWAP bot is an automated tool for cryptocurrency trading. It got its name thanks to the time-weighted average price algorithm. The latter is introduced into the robot's work and allows you to reduce various costs when carrying out actions with the currency without significantly impacting the market. This robot trader was created in mid-2020. During this time, it has been repeatedly updated to improve efficiency. Despite its relatively short history, this bot has received recognition and has become one of the company's most sought-after developments.
The modern version of TWAP is ideal for beginners. This became possible thanks to the most straightforward interface, quick navigation, and no problems with placement and order fulfillment. The robot will also be helpful for professionals. They will like its efficiency, convenience, and ability to reduce costs significantly.
Dionex created the TWAP robot for their own needs. With his help, the company planned to attract many new customers and partially fulfilled its ideas. In this regard, you can use the robot free of charge. This feature will appeal to people afraid to pay money to use certain Forex robots.
Features of use
The popularity of the TWAP bot is constantly growing. This is due to its ease of use and efficiency. To use the services of a robot, it is enough to perform a few simple steps in the correct sequence.
Steps to use TWAP bot:
- On the Pionex website, find the list of available trading instruments in the menu. Among them, choose the TWAP bot.
- In the window that opens, enter the order validity period. You have the option to choose from 4 available options. They are 10, 30 seconds, and 1 or 5 minutes. This parameter is selected depending on the desired duration of your order.
- After completing the specified actions, enter a sell or buy quote for the robot's movements. It is often chosen at 1% of the total investment amount.
- Next, after the period you specified (up to 5 minutes), the bot will buy or sell at 1% of the total investment in a particular currency. He will carry out 100 such operations and complete his work. When the quote changes, the number of actions performed by the bot will increase or decrease.
To effectively use the TWAP robot, you should know some of the features of this process. This information will help you quickly understand the work of the Forex robot and its nuances.
- Automatic operations. TWAP operation is fully automated. Therefore, the trader will not need to conduct hundreds of purchases or sales of currency independently. This simplifies the process as much as possible but deprives the user of the opportunity to make changes before the bot completes its work.
- Free choice of investment size. Users can run the TWAP bot with any amount of investment. At the same time, avoiding excessively large or minimal investments is recommended. In this case, the robot's work will be as efficient as possible.
- Work in two directions. With the help of the TWAP Forex robot, you can buy or sell currencies. This feature makes the robot more versatile and popular with traders. Regardless of the direction, the bot performs identical actions.
- Reduced price of transactions. During trading operations with currency, the robot constantly uses a small amount compared to the total costs. This feature allows you to reduce the impact of ongoing actions on the market, thereby minimizing costs.
- Safety. All developers of Forex robots pay special attention to data protection on transactions. TWAP uses API keys. They maximize security and reduce any risks for the trader.
The popularity of the TWAP bot among traders is due to several factors at once. After a few days of trading with the robot, the main one is many noticeable advantages. It also has a minimum of shortcomings; knowing in advance can reduce the negative impact on the robot's operation.
|• No fee
|• Impossibility to estimate financial risks in advance
|• Suitable for beginners and experienced users
|• Lack of a detailed instruction manual
|• High efficiency
|• Ease of use
|• Data security
|• Regular updates
|• The excellent reputation of the developer
A trading robot is always helpful for people who want to make money on Forex. Among the many options available, traders often opt for the TWAP bot. It is most effective during various financial manipulations and is easy to use. With its help, even beginners can achieve unprecedented success, reducing losses and increasing economic profit.