Citex is an international cryptocurrency exchange operating out of China. It has faced significant juridical challenges in the native region despite complying with strict KYC guidelines and offering very limited services to the global clientele. The company has a solid track record and hundreds of thousands of users from all across the globe.
If you want to use a CITEX trading bot, you will need some technical expertise and experience since automated crypto trading providers do not support this CEX directly. Many contemporary retail traders usually prefer switching to CEXes that have the necessary technological capacity to either provide basic automation tools or partner with highly specialized providers in this sector of the crypto industry.
How to set up a trading bot on CITEX
The easiest way to create a functional robot using the platform is by employing the currently available desktop applications and open-source projects like HummingBot. You can also try some of the instruments available publicly on GitHub where power users often release interesting programs that can be used to automate various strategies quite effectively. The issue here is that even the best trading bots for CITEX from this category require users to have some technical know-how.
Below are these two options:
- Desktop applications can be downloaded from GitHub or from companies selling automation software that can be run locally. Users interested in using these instruments must be prepared for some important requirements. For instance, the internet connection must be flawless and fast to ensure that you do not miss out on valuable opportunities. The same can be said about hardware. Running a bot on an ancient PC is not recommended.
- HummingBot is an open-source platform that offers a wide range of fully automated strategies that can also be adjusted according to your preferences as an investor. You can run all sorts of ATS setups including a grid bot strategy or something fancier. The service is free as it is financially backed by partnered CEXes like Binance and Kraken. It is a flexible tool that works excellently if you have the necessary knowledge, patience, and dedication to create a useful setup.
These two options are used by professionals and tech enthusiasts. If you are looking for a CITEX bot for beginners, using these complex applications that demand maintenance and preparation is not the brightest of ideas. We strongly believe that only people, who have some coding experience and know their way around financial markets, should use these apps.
How to automate trades on CITEX
The platform has native social features with many lead managers offering their services but they are very limited and won’t provide you with the flexibility and diversity required to build a solid portfolio. Instead, you should be focusing on using advanced ATS designs that proved their effectiveness throughout the years. We want to give you several examples of such reliable strategies:
- Use a CITEX grid trading bot. The GRID system is one of the most popular ATS strategies thanks to its reliability, consistency, and accessibility. The strategy does not require deep liquidity or access to a wide range of digital assets. Any coin with a respectable volume will be a fine target for these robots. They use the DCA (distributed cost average) logic to identify the best moments to enter the market. Each new position is immediately paired with an exit point to maximize the chances of closing a trade profitably.
- A CITEX scalping trading bot can work well in many portfolios since the exchange has thousands of daily active traders creating a busy marketplace capable of producing spreads that can be exploited by scalpers. Since desktop apps and open-source projects often lack the necessary flexibility to provide a good foundation for systems that must react to the market and take advantage of tiny discrepancies in the market, a good retail trader will be forced to the services of advanced providers leading the industry such as CryptoHopper or WunderTrading.
To run these systems effectively, it is important to study the exchange’s API gateway. The technical documentation is detailed but the Chinese version of it is way more descriptive. Take this particular fact into consideration when choosing where to use robots. It is not that hard to create a CITEX API trading bot but you must have some experience with setting up API connections to avoid mistakes.
CITEX bot for futures trading
One of the biggest advantages of contemporary CEX platforms is that they often offer a wide range of financial instruments to their clients and create derivatives like perpetual futures that are familiar concepts to investors coming from the world of tradfi. This particular exchange is not an exception to the rule. It has a market for derivatives that can be effectively used by retail traders with experience.
The issue here is that the market for derivatives does not have an API gateway allowing users to connect directly. It means that automating trades is impossible outside of native social components.
AI trading bot for CITEX
Artificial intelligence has lost some of its appeal throughout 2024. However, it is an amazing technology if you can find a good application. Crypto markets are excellent domains for AI agents and machine learning to shine. Many contemporary automation vendors have different AI-empowered products delivering respectable investment outcomes.
CITEX can be a good target for these bots as it has solid liquidity, quick processing, and many financial instruments to choose from. If the exchange becomes partnered with automation vendors, you can try using some of the advanced tech available to retail traders:
- A crypto AI trading bot from WunderTrading is a great tool for users interested in building complex strategies that do not require human supervision. These robots can improve any existing setup but show great results when applied to arbitrage and statistical arbitrage systems. Since these bots use historical market data and can identify patterns in price action changes, they deliver stellar results.
- Grid bots controlled by artificial intelligence are offered by CryptoHopper, another premiere automation vendor. This particular robot uses historical market data to identify the best adjustments for existing positions. By tweaking delayed orders and dynamically changing exit points, these AI-enhanced robots can bring you profits that are otherwise impossible to achieve. On the other hand, grid systems are already quite reliable and perform well even without the addition of machine learning to the mix.
- GunBot offers its own take on the implementation of AI in the world of ATS strategies. This platform has its proprietary LLM that can understand natural human language. Users of the platform can explain how their investment strategies should work. The system will analyze the request and write a script that fits the description. Note that LLMs are still imperfect and often produce unreliable results. Use this particular feature cautiously and do not rely on it to build something that works as intended without any additional tinkering.
It seems that all vendors in the fast-paced fintech sector want to offer something that has machine learning, neural networks, or AI attached to it. The results have been a mixed bag so far. These are novel instruments that require research and additional time to mature. We strongly believe that many contemporary retail traders will benefit from using them just to learn how the technology works. However, you should not rely on machines to do all the work for you.
Should you use а CITEX automated trading bot?
This exchange has everything you need to create useful robots capable of delivering excellent results. A wide range of financial instruments, deep liquidity, proactive traders, and functional API are great advantages if you plan to invest in automation. On the other hand, the vast majority of respectable providers such as 3Commas or WunderTrading do not support the exchange directly making it impossible for investors to quickly and conveniently deploy ATS strategies.
Over 65% of all individuals and close to 100% of institutional investors use robots to improve their profits and achieve consistent returns. Many strategies are easier to implement with automation. For instance, you can run a DCA crypto bot to acquire BTC for long-term holding. It is a commonly used practice in the crypto community. Setting up a schedule and determining when your robots are supposed to enter the market can significantly improve the efficiency of the DCA method.
The same strategy can be used for any digital asset that has a potential for price appreciation. Ethereum, Solana, and some DeFi protocols have tokens that can reach incredible heights. The DCA system can also be used to make short-term profits by reducing the acquisition price of assets that will be sold at a higher profit later on.
A CITEX DCA trading bot can be the crowning jewel of your portfolio but it is important to find a way to use this amazing strategy with instruments available on this exchange. Despite the issues with the current legal status of the exchange and its uncertain future, it is still a great destination for many crypto enthusiasts interested in creating advanced strategies.