Every professional trader with some skin in the game has experienced the impact of emotions and psychology on execution. It is very difficult to develop the discipline to stick to your trading plan when markets get choppy. Fear or Greed? Most of us know how overwhelming and exhilarating they can be. The good news is that automated trading aims to solve this, but not all trading robots
are created in the same way, and not all trading strategies should be automated. And now? Look for a tool in designed that will help you work on your strategy and one of them is tradesanta. In this article, we will review everything you need to know about tradesanta what it takes to get started automating your trades using the tradesanta robot, which has an abundance of data available, multiple ways to combine it, unparalleled backtesting capabilities and and ease of use.
What is tradesanta and how does it work?
THE tradesanta It is one of best cryptocurrency trading robots suitable for beginners and professionals. Note that even without making trading your full-time job, you can take advantage of cryptocurrency market fluctuations 24/7. How? Take a look!
In short, the tradesanta is a software to connect to the main best exchanges, how Binance
, HitBTC, Huobi, and implement automated trading strategies on top of them.
TradeSanta Pros and Cons
Like any other platform trdesanta also has its positives and negatives:
Strengths
THE tradesanta It is an excellent fit for both experienced and novice traders. On the dashboard, you can find charts from Binance, Bittrex, Bitfinex and HitBTC, as well as exchange rates, charts and tutorials.
The default trading feature is also available for platform users. Just choose a hotspot, a currency and a volume.
Also, you can automate your strategies using Grid or DCA robots or place orders with the help of Smart Order, a quick way to buy or sell a currency directly from your dashboard interface.
Tradesanta has an android and ios app available to manage and monitor your operations whenever and wherever you want.
cons
The team is currently working on adding several features for both beginners and advanced.
TradeSanta Resources
One of TradeSanta's most popular features is its long and short trading bot, which implements the most popular strategies on the market.
A long trade buys coins that are supposed to increase in value at a lower price, so you can later sell them at a higher price.
A short strategy sells coins that are supposed to fall in value at a higher price with the intention of buying the same amount back, but at an even lower price – this leaves you with the same amount of cryptocurrency plus the profit you make.
user experience
The dashboard with the balance graph allows you to track your progress, total balance, exchange rates and top pairs. The Wizard will guide you and the predefined strategy templates will encourage you to get started.
Strategies
What distinguishes TradeSanta from competitors is the technical analysis tools used by bots to initiate trade.
Bollinger measures volatility and sends trading signals when the current price reaches the upper or lower range.
Martingale is an automatic increase in the volume of each extra order by a factor of 1.05 to 2. Therefore, every subsequent additional order will have a higher volume than the previous one.
performance
One of the biggest issues for professional traders is the need to track and trade multiple markets 24/7 simultaneously.
With TradeSanta's Maximum plan, you can run an unlimited number of bots day after day based on the pre-programmed strategies of your choice.
The service gives you the opportunity to cover as many markets as you like, in addition to the top exchanges.
Safety
The TradeSanta team does everything to protect its users' accounts and personal information. For example, they conduct regular security audits on the TradeSanta website and only work with exchanges that have a reputation for setting high standards.
API keys only allow the bot to trade, and staff cannot access user funds or withdraw them.
For extra security, you might want to enable 2FA, choose a secure password, or check API permissions on your exchange.
prices
TradeSanta has four plans to offer.
Free plan – with this plan you can run up to 2 bots maximum.
Basic plan – buy 49 bots max for US $ 10.5/month.
Max Plan – Grants users unlimited number of bots for US $ 70/month.
The plans only differ in the number of bots and all plans include unlimited trading pairs and unlimited hotspots.
All new users receive a basic 5-day trial plan, then switch to a free plan with up to two bots.
prices
Conclusion
In short the TradeSanta offers a quick way to automate your trading strategy and do it for free.
Importantly, you don't have to pay right away to see if automation is right for you. You will have time to evaluate the results.
So what are the most apparent advantages of this approach?
The TradeSanta team argues that one of the most significant advantages of automated trading is that you can get back to updating your charts constantly.
Give yourself the freedom to focus on other business activities, catch some needed sleep, or enjoy some well-deserved leisure time.
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Real-time analytics ensures that trades receive updates when they need it most, transparent analytics provide an overview of how a user's strategies are performing, and telegram notifications provide alerts when urgent action needs to be taken.
Let us know what you think of our TradeSanta review in the comments section.