The developers of the Letit trading terminal have created a neural network that predicts the price movement of cryptoassets. This automates trading and saves traders from boring routine work.
The popularity of trading cryptocurrencies is growing, despite the decline in the crypto market. According to various estimates, the number of digital owners who regularly perform trading operations exceeds 50 million. But only a few manage to succeed in this rapidly developing and restless market. The developers of the Letit trading terminal have created an AI-based service that helps traders make the right investment decisions.
A trading terminal is software that allows traders to trade assets simultaneously on multiple exchanges by connecting to them via an API. In addition, the interface of the trading terminal is focused on user convenience and helps to monitor market trends on several trading platforms at once. But most of the trading terminals that work with crypto-exchanges were originally focused on traditional financial assets such as stocks or bonds, or were created in their image and likeness. Cryptocurrencies, as a new asset class with high volatility, require a special approach.
The goal of the Letit development team was to create a trading terminal focused on working with cryptocurrencies, which 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-tools that appear daily on the crypto market. Achieving this goal became possible thanks to the introduction of a unique service for the crypto market – a predictor based on artificial intelligence.
Letit: neural network and risk management
The Letit predictor uses a neural network that analyzes data collected by the trading terminal over a long period of time. It independently determines the support and resistance lines in the selected trading crypto pairs, for example, ETH to BTC. But most importantly, it predicts further price movements based on historical data. The trader only needs to set the time frame – the period in which he would like to receive hints from the AI predictor, and the period on which the neural network will base its analysis.
In addition to the predictor, Letit offers traders a risk management service. Risk management is the cornerstone of any investment activity. Determining your risk tolerance is one of the first steps a trader must take before entering any asset. But sometimes emotions and fear take precedence over a pre-thought-out plan, and a trader, sometimes even an experienced one, takes rash steps.
Letit’s risk control feature is designed to help traders not get emotional and stay within a pre-designed trading strategy. A trader can pre-set the maximum allowable position size, designate the percentage that he would like to receive when closing a deal in plus, or the maximum allowable loss if the deal closes in minus. So, when setting the maximum allowable position volume at the level of 10% of the deposit, the terminal will not allow the trader to use more than this amount in a transaction.
The risk control service also allows you to:
- 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 placing stop orders.
- set in advance a step from the current asset price as a percentage to manage a trailing stop order.
- determine the lagging step from the current order opening price as a percentage, which is also used to manage trailing stop orders.
Tokenomics
The widest functionality of the Letit trading terminal is available to owners of internal LETIT tokens launched on the BNB Chain blockchain. Users who own tokens are provided with discounts on terminal functions, as well as access to unique services not available to other subscribers – farming as an additional income, and trading tournaments.
10,000,000 tokens have already been sold during the SEED round of the token sale. On August 18, the private round starts. Another 10,000,000 LETIT tokens are going on sale. In total, 100,000,000 tokens will go into circulation. After the private round, a Public Sale is planned, during which another 30,000,000 LETIT tokens will be sold. The remaining 50,000,000 tokens will be used for marketing purposes, an insurance fund, and providing trading liquidity.
Asset security
One of the main fears of trading terminal users is the fear of losing control over assets due to the connection of the terminal API to exchange wallets. When discussing trading terminals among traders, the well-known expression in the crypto industry often sounds: “Not your keys – not your bitcoins”. Fearing for the safety of their coins, traders often refuse to use convenient trading terminals, thereby depriving themselves of the opportunity to simplify trading operations, and sometimes missing the opportunity to increase trading profitability.
For Letit users, there is no such danger: the terminal connects to the exchange via an API connection without the ability to manage withdrawals to third parties. The withdrawal of coins from the exchange account remains under the full control of its owner. Letit is just a tool that makes it easy to trade cryptocurrencies across multiple exchanges.
