It is not illegal. But your thougts on trading bots are not clear about the loss/profit thing. Usually, bots trade for you but they are written script and they can not perform anything else other than the script. In a sudden economic event, trading bots will just kill your portfolio because in big event, price get dip significantly which may be lead you big lose.
Thanks for answering my concern. By the way, I do have idea on how profit loss thing works and knows a little bit of coding that's why I've asked if its a legal thing that I can play with and someday profit with it.
I am thinking like if I learn to program a trading bot,
- I would try to put limits on loss like 5% then automatically sell the my coins to avoid further loss
- Then program to buy when coin started to raise by 5%
- Put on sell when reached 10% of profit but will buy again if there is a raise of another 5% on the price.
If there are people who understands what I'm trying to point out here, do you think would that work? Or the figures are a little bit high already. Just want to get an idea about the limits like which is suitable.