With TruePNL, you can use automated strategies designed by our quant-trading team while retaining full control of your funds. This is robo trading at its best, but it doesn’t mean that any algo tool is better than human trading. Let’s look at different aspects of robo trading.
The pros: speed, discipline, and minimal transactional costs
1) Speed. It takes the program a fraction of a second to analyze various indicators, match them to the strategy, and place a trade if the conditions are met. In that span of time, a human won’t even realize what they are seeing on the screen. In fact, most of the crypto trading nowadays is done by bots, and trying to compete with them is a pointless task.
2) Accuracy. If you read tips and ideas on TradingView, you know how many of them are based on FOMO (fear of missing out), FUD (fear, uncertainty, and doubt) and ‘hopium’ (irrational optimism not based on any facts). Everyone knows that efficient trading requires a clear head and discipline, but humans tend to give in to their emotions anyway.
An algorithm has no emotions: it’s immune to fear, no greed, no hope. It always follows the strategy, which is the surest way to keep making profits in the long term.
3) Low transaction costs. A trader’s time has value. Every hour you spend drawing lines on a price chart is an hour taken away from your family, hobbies, or activities that could earn you money. All these are opportunity costs, and a robo-trading system can minimize them.
Three things to pay attention to
1) High development cost. If you’d like to have a robo-trading system custom-made for you by a professional trader and a developer, prepare to pay thousands of dollars for the initial program and then hundreds more for updates. Most beginner traders and retail investors can’t afford such tailored systems.
2) Hardware & software functioning. Like any program, a robo-trading algorithm can freeze or close down because of an error. A loss of internet connection can also wreak havoc with the orders, as well as any failure of the computer itself. Because of this, a bot isn’t a ‘turn on and forget’ solution: you’ll still need to check up on it often and correct any issues.
3) Black box. A robo-trading program won’t explain to you why it makes the decisions that it does. Unless you order your own strategy to be coded into a bot, you won’t know the underlying algorithm, so you won’t be able to learn from it. Therefore, if you wish to become a real trader (rather than just earn a trading income), you’ll need to study and experiment with strategies manually, even if you still rely on the bot for most of your revenue.
At TruePNL, we’ve made a great effort to make great automated strategies accessible to all. Our quant traders have designed more than 10 profitable strategies for BTC, ETH, DOT, and XRP, which have yielded up to 40% in the past month. These are the strategies we use in-house ourselves, so it’s in our interest to make them as successful as can be.
By subscribing to any of the bots, you’ll be able to copy all of its trades automatically on your Binance account. You’ll remain in control of your funds at all times: the bot cannot make any withdrawals, only open and close trades. The robo-trading solution works with Binance for now, and we will be adding more exchanges in the future.
The best part is that you can use any of the automated strategies for free for 3 months if you join right now. We have reserved 270 free testing slots, and there are still a few of them available, so act fast!
Robo-trading won’t teach you to trade, but it will free you a lot of time to learn. It won’t make you rich, but it will deliver a stable revenue over the long-term. It’s not fully resistant to errors, but it’s much less prone to make mistakes than humans are. Overall, a quality robo-trading system is far superior to regular manual trading, but you have to choose it and use it with lots of care.
The robo-trading strategies are far from the only product offered by the TruePNL ecosystem. We also have a TruePNL launchpad, a native $PNL token, and more projects in the pipeline, such as community ETFs and a derivatives protocol.
Join us at https://trading.truepnl.com/ right now to get an opportunity to use the TruePNL robo-trading strategies for free — and feel free to ask us any questions in the Telegram chat!
