It’s important to have a clear strategy when you invest, especially in crypto. Instead of manually buying and selling, you can save a consequent amount of time by automating your trades. It’s also a way to disconnect your emotions and make sure that you’re applying a well-thought investment plan validated by your brain. How to automate crypto trading then? Well, Coinrule has built the perfect tool for it.
1. What is Coinrule?
Coinrule is a cryptocurrency trading platform that sends automated trading instructions to exchanges. Coinrule is a smarter system for trading because it adds automation across 10+ investment platforms. The company was founded in 2018 and is headquartered in London, England.
The platform allows users to test out their rules before implementing them live based on real money. It’s based on basic actions being performed based on conditions (e.g: if the price of Bitcoin reaches 100k$, then sell).
I’ve found a nice video explaining it:
In short, it allows you to do 2 things:
-Test strategies without using real money and verify that your strategy is performant.
-Actually apply the strategies with real assets and trade while you sleep after connecting the platform to your crypto exchange.
Coinrule has different plans depending on how intensively you want to use the tool:
All of them come with nice features like notifications via text or Telegram message:
2. How To Use It?
After creating an account, you can generate various testing plans depending on your risk appetite, all of this embedded in a very nice UI.
For example, I could say that IF Bitcoin does a +10% in 30 minutes:
THEN, trigger a sell action, selling 20% of my Bitcoins:
AND I want this to start executing now, for just 1 time:
Then I decide to launch my new rule to test its performance:
I can launch it as a test and monitor it (“launch demo”) or launch it with real crypto (“launch”), after connecting Coinrule to a crypto exchange where my assets are.
I can then see my new rule running, waiting to be triggered when the condition will be met:
3. Example Of Strategies
Once you’ve understood the principle, it’s easy to create a myriad of strategies that you can test, just like in a private crypto lab.
- A trading strategy based on moving average:
- A RSI-based trading strategy:
- A DCA investment strategy:
You can find plenty of templates in their interface that you can customize depending on your investment style:
Coinrule is also providing strategies every week through their newsletter (bottom of the homepage):
I like Coinrule for bringing trading automation to the masses. Instead of writing obscure Python scripts running on your machine like a hacker, you can now run nice plans plugged to your crypto exchange in a fantastic UI with strategies that you can load, modify and share with a community. What I think is interesting is that it also gives you a formal formatting to communicate your strategy, just like sharing a music score. I’m also interested in it to apply my own machine learning strategies developed for Bitcoin. What are you waiting to give it a try and automate your crypto trading?
Thanks for reading.
n.b: this is not financial advice