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Binance Trading Bot Appropriateness Assessment Quiz Answers

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This guide contains the Binance Trading Bot Appropriateness Assessment Quiz Answers to open any new trading bot order.

Binance Trading Bot Appropriateness Assessment Quiz Answers

Question: Binance’s trading bots’ 24/7 operating capability implies:

Answer: Transactions are executed round the clock, even when the user is not active.

Question: Do Binance’s trading bots guarantee profits?

Answer: No, profitability is dependent on market conditions and trading bots can’t guarantee profits.

Question: The primary function of Binance’s trading bots is:

Answer: Trading process automation.

Question: Binance’s trading bots can be used for high-frequency trading (HFT) because:

Answer: They are indifferent to the frequency of trades.

Question: Which of the below is a consequence of using Binance’s trading bots?

Answer: The bots can automatically execute trades.

Question: An important feature of Binance’s trading bots with respect to risk management is:

Answer: User-defined risk parameters.

Question: How often can I adjust my trading parameters?

Answer: As often as I like but they have to be set before a trade is executed.

Question: Can Binance’s trading bots execute trades based on market news?

Answer: No, they can only execute trades based on price movements and technical analysis.

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Lim How Wei

Lim How Wei is the founder of followchain.org, with 8+ years of experience in Social Media Marketing and 4+ years of experience as an active investor in stocks and cryptocurrencies. He has researched, tested, and written thousands of articles ranging from social media platforms to messaging apps.

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