7 April, 2022 seen 38Bybit is one of the fastest-growing cryptocurrency exchanges, with more than 2 million registered users. You can buy…
A few days ago I discovered this little amazing and free automated crypto trading bot from Trality and I feel very impressed.
Trality is a platform for anybody who wants to profit from algorithmic trading without giving up the day job. At least not right away
I like algorithm trading and I believe if done correctly then it can help to save money (and in the best scenario to make more).
A couple of years ago I did some experiments with another crypto trading bot - Gekko, but I soon stopped using it, despite the backtests I was able to generate pretty impressive returns using simple RSI strategy (buy when oversold, sell when overbought). Back then I was trading altcoins on Poloniex, which is something I really never have enjoyed in fact.
Gekko required either keep your laptop open and running 24/7 or launch it from a VPS, I did both, at the start it was running from my laptop but later I deployed in on cheap VPS. The gained knowledge is already worth a million.
Fast forward a few years to 2021 and here I found Trality, doing the same Gekko did, but I do not need to run it on my laptop or build my own VPS, with a few clicks algo trading bot can be configured and you are ready to go.
That's what I did - I made a test strategy using trend following Average Directional Movement Index (ADX), with two simple signals, connected to my Coinbase propro account and let the bot run.
Trality strategy builder
Trality offers two set up a trading bot without any knowledge of coding, all can be done via drag and drop interface (though there is still an option to enter your own code using python editor)
For the test purpose I made a bot trading ADA and XLM coins against EUR following ADX signals.
Backtesting with Trality
I did a few backtests, as I liked what I saw, I decided to turn on the bot and start testing with real money in a real environment
Once my account was connected to Coinbase PRO, the bot started monitoring and did his first trade in two days
In short I like this bot a lot, I try to visit every day check what is happening with my coins, how bot is reacting in different market situations (it is not ideal set and forget).
I have found that algo trading rules and signals are different for different coins. what might work for Cardano coin might not work for Bitcoin or Stellar Lumens and so on
I would say this bot is good to have if you already have some cryptos and you are trying to understand how to react in different market situations and maybe bot can help executing some trades. I wouldn't yet use bots for 100% trading
It is easy to make money in the bull market, but what I really want to build is an algorithm helping to protect against a huge drops (which do occur in crypto trading)
Anyhow with Trality seems it is possible to achieve almost everything, you just have to be pretty knowledgeable on algorithms to apply. RSI, MACD, ADX etc and backtesting should help to fine tune your algorithms.
How about you? Are you using Trality bot? Any finds? Leave me a comment, readers and I would love to hear!