What are Bybit trading bots and how do they work?

Bybit trading bots are automated software tools programmed to execute trades on the Bybit cryptocurrency exchange according to predefined strategies and parameters. These bots work by continuously analyzing market data and executing trades to take advantage of price fluctuations with minimal delay. They harness algorithms designed to identify optimal entry and exit points based on technical analysis indicators, market trends, and other trading signals. Users configure the bots with their custom trading strategies or select from predefined templates, setting parameters like trade size, risk levels, profit targets, and stop losses. By offering 24/7 operation, these bots enable traders to participate in the market at all times without the need for constant manual supervision, potentially maximizing their chance of capitalizing on profitable opportunities while managing risks associated with crypto trading.