0 Trading Bots

Cryptotrader is a heavenly playground for anyone who is interested in trading bitcoin and other cryptocurrencies. The platform offers automated trading bots in a scalable cloud environment. You can also write your own trading scripts free of charge or even offer them for sale to other Cryptotrader members. The platform offers the ability to run backtests and to play with one of the trading bots that are offered for free. In short, heaven for anyone who is involved in bitcoin trading and trading bots!

Cryptotrader is a cloud-based platform hosted by Amazon. The trading bots have 24/7 access to the major cryptocurrency exchanges via API. A bot is called a ‘strategy’, which is nothing more than an algorithm that makes buy and sell actions on currency pairs. You need to be aware that bot’s can’t think: they can only execute what they are programmed to do: placing buy and sell orders on preset algorithms. Also, the trading bots can never do more than what the exchanges allow on their trading platforms. For example, there is no way to deposit money or funds of any kind into the Cryptotrader account. They do not hold your funds at all, they only provide an interface where you can select the bots and monitor its trading actions. Cryptocurrencies never sleep and there are price movements 24/7. Automated trading bots are the best answer to this. Automated trading means less work for you and more profits in the bank.

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Your new account setup on Cryptotrader is pretty simple. You do not need to provide all your personal data, as they do not hold any funds and you will not have financial transactions executed directly with them. A simple email address and password are enough for you to open an account. The account itself is free, so you can poke around at will, but if you start trading for real you have to apply for a membership plan. With a subscription you actually pay for computing power and hosting so your trading bots will be able to run. Apart from the free plan, Cryptotrader offers five subscription levels each with a different set of features. See the price comparison table below for the features offered by each plan. Pricing Plans Subscription Plans

Once you choose your plan, it’s time to get a strategy loaded and start trading. Which strategy you select, depends on your risk-taking preferences. If you have your own trading script to run, just add it and go ahead and if you want to use the third-party trading bots you will have to go to the market and find the one that works for you. Some bots are free, others are for rent. Obviously, the paid ones have a higher probability of winning trades.

The market is fairly simple to use. The trade bots listed there give you the following details: monthly cost, supported exchanges/currencies and (very important!) the popularity of the bot among its users. You can also click the details of the author and even contact them. You need to be aware that Cryptotrader does not provide these trading bots, nor do they provide support for the strategies listed.

The strategy detail page provides an in-depth look and explains how the strategy works, instructions how to set it up and your preferences of implementation and also information on return figures. This information is provided by the developer, so make sure you use it to do your own backtests before you buy it. Most developers have listed their email addresses for any questions or technical issues that may arise.

At the bottom of the page there is a tab section with a breakdown of the most important information in order to run this bot on Cryptotrader. The bitcoin exchanges that the trading bots support will be listed here, followed by the source code of the strategy. You need to be aware, however, that most developers choose to protect their secret sauce. Protected source code is usually not visible when you have to pay for them. The free trade bots often do publish the source code and give explicit permission for anyone to use and modify the code. You are able to run back tests before you decide to rent a strategy. The live trading tab is the place to be for monitoring trades executed by the active trading bots.

Cryptotrader output log for BladeRunner trading bot
Output log for BladeRunner bot on Cryptotrader

If everything has been set up, the only thing left to do is to head over to the exchange of your choice, make sure your API keys and secrets are active and enabled, and then press the start button.

Happy trading!

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