Sponsored content The developers of the Letit trading terminal have created a neural network that predicts the price movement of crypto-assets. This automates trading and saves traders from a boring chore.
Cryptocurrency trading is growing in popularity, despite the decline in the crypto market. According to various estimates, the number of digital holders who regularly trade exceeds 50 million. But only a few are succeeding in this fast-paced and turbulent market. The developers of the Letit trading platform have created an artificial intelligence-based service that helps traders make the right investment decisions.
The trading terminal is software that allows traders to trade assets simultaneously on multiple exchanges by connecting to them through an API. In addition, the interface of a trading terminal is user-friendly and helps you keep track of market trends on several trading floors at once. But most trading terminals that work with crypto exchanges were originally oriented towards traditional financial assets, such as stocks or bonds, or were created in their image. Cryptocurrencies, however, as a new asset class with high volatility, require a special approach.
The goal of Letit’s development team was to create a cryptocurrency-oriented trading terminal that would allow traders to significantly automate trading processes, freeing up time for other tasks – thinking through strategies and analyzing decisions already made, studying new coins and financial crypto instruments that appear on the crypto market every day. This has been made possible by the introduction of a service unique to the crypto market – the predictor based on artificial intelligence.
Letit: neural network and risk management
The Letit predictor uses a neural network that analyses the data collected by the trading terminal over a long period of time. It independently determines support and resistance lines in selected crypto pairs, such as ETH to BTC. Most importantly, it predicts future price movements based on historical data. The trader only needs to set the time frame – the period in which he would like to receive tips from the AI predictor, and the period on the basis of which the neural network will base its analysis.
In addition to the predictor, Letit offers traders a risk control service. Risk management is the cornerstone of any investment activity. Determining the level of risk tolerance is one of the first steps a trader should take before entering any asset. But sometimes emotions and fear take over the bargain basement and the trader, even if he or she is experienced, will take rash decisions .
Letit’s risk control feature is designed to help traders avoid emotions and stay within a pre-designed trading strategy. The trader can set in advance the maximum allowed position volume, indicate the percentage that he would like to get when closing a position in the plus, or the maximum allowed loss if the position is closed in the negative. For example, by setting the maximum permissible position volume at 10% of the deposit, the terminal will not allow the trader to use more than this amount in a deal.
The risk control service also allows:
- set a commission for activating an order on the exchange, so that this value is automatically taken into account in the trading strategy, including when setting stop orders.
- set the step from the current price of the asset as a percentage beforehand for the management of trailing stop orders.
- set the lag step from the current order open price in percent, which is also used for trailing stop order management.
The most extensive functionality of the Letit trading terminal is available to owners of internal LETIT tokens running on the BNB Chain blockchain. Users who own tokens are given discounts on terminal features, as well as access to unique services not available to other subscribers – farming as additional earnings, and trading tournaments.
10,000,000 tokens have already been sold during the SEED round of the tokenseal. The private round starts on August 18. Another 10,000,000 LETIT tokens will go on sale. A total of 100,000,000 tokens will go into circulation. After the private round, a Public Sale is scheduled, during which another 30,000,000,000 LETIT tokens will be sold. The remaining 50,000,000 tokens will be used for marketing purposes, an insurance fund and to provide liquidity for the auction.
One of the main fears of users of trading terminals is the fear of losing control of assets due to the terminal’s API connection to exchange wallets. When discussing trading terminals, there is often a well-known expression among traders in the crypto industry: “Not your keys, not your bitcoins”. Fearing for the safety of their coins, traders often refuse to use user-friendly trading terminals, thereby depriving themselves of the opportunity to simplify trading operations, and sometimes missing out on the opportunity to increase trading returns.
For users of Letit, there is no such danger: the terminal connects to the exchange via an API connection, with no possibility to manage withdrawals by third parties. The withdrawal of coins from the exchange account remains under the full control of its owner. Letit is just a tool to facilitate cryptocurrency trading on multiple exchanges.
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