- 1 What is Coinrule
- 2 Coinrule Trading Bots
- 3 Coinrule Pricing
- 4 Coinrule Best Strategies
- 5 Trend Following
- 6 Coinrule Customer Service
- 7 Coinrule Mobile App
- 8 Coinrule UX
- 9 Coinrule User Benefits
- 10 Coinrule Security And Is Legit ?
- 11 Coinrule Overall Rating
- 12 Coinrule Tutorial
- 13 Coinrule vs. Pionex
- 14 Coinrule vs. Cryptohopper
What is Coinrule
Coinrule can be described as a smart assistant for crypto currency trading, which allows you to take full control of your trading by creating a rule based trading algorithm with plain commands.
Coinrule Trading Bots
The coinrule bot helps users give specific instructions just the way a professional programmer would but in this case not in programming language but normal and conventional English language to a trading bot or system to execute precisely the way they want to execute trades on the market connection from different exchanges using API connection. Figure 1 shows the interface of the mainpage of the coinrule bot, while figure 2 shows an example of an instruction given to a bot. The bot has custom names so the user can understand the functionality of the bot. There are over hundreds of templates to choose from if the user doesn’t have the time to create a custom bot. Moreso, the template can be modified to suit your requirement.
With Coinrule you can develop your own trading strategies easily and set them up to run automatically on your favourite exchange while you are busy with other activities. You can start with a Free Account Today, however, there are various subscription plans based on your requirement and preference as shown below.
Coinrule Best Strategies
Buy the dip
As a beginner, “buy the dip” strategy would be the best but for advanced traders, there is no specific strategy as there are various methods and strategies. Depending on the strategy used, this can be tweaked and modified to meet the current market condition based on technical and fundamental analysis.
The example below show a rule based bot to buy the dip for Bitcoin(BTC) and Ethereum(ETH)
This is a trading strategy that consists of buying an asset in anticipation of the beginning of a strong uptrend and then selling that asset before the trend reverts is probably the most straightforward trading strategy and the one most traders tried to pursue at least once in their trading. There is a famous Wall Street quote that states, “The Trend is your friend”.
However, just like the underlying concept may seem very easy, but it can be tricky to identify a real strong uptrend at its early stages of trades
Coinrule has the tools to screen the market 24/7 in search of the signals of a new uptrend developing and can give a warning about a possible downtrend forming.
The possible way to identify a new uptrend developing is to watch out for sudden and strong impulse in price movements. During the month of May 2016, BTC had a daily price change of about 11%. The price change alone flashed a strong “buy” signal.
One thing to put into consideration is a trend following strategy should always try to avoid the FOMO traps. Doing this, you need to catch the price moves that show significant underlying strength, which makes the risk/reward of the trade to be more favorable. Most times, a strong price move at the beginning of a new trend is also supported by a significant volume increase.
With Coinrule, it is easy to set up an automatic trading strategy bot, to buy when certain price conditions are met.
As shown in the example, we configured a rule that will promptly buy the asset that has a price change of more than 5% and a volume increase of 500% in the last 3 hours. When the condition is met, the algorithm will send a buy order of 100 USD worth of that coin to the exchange.
Profit taking can also be defined on that trade within the same rule. After buying the coin the bot will look for the additional price condition that will trigger the sell order.
On the other hand, the sign of a major uptrend developing could be represented by the breach of a significant price level. A resistance is a price that historically has proven to be difficult to overcome. Only a very solid underlying demand for the asset can revert the trend, and very often that is the signal that a new uptrend is starting.
The price levels can be modified any time so you can adjust your rule depending on the current market conditions.
Coinrule Customer Service
The customer service can be reviewed based on customers feedback. Below shows some of the reaction from the usage of coinrule trading bots. So far, coinrule is rating above 82% as at time of writing, this is rather a good score and shows customers are happy.
Below are some of the comments from the users.
From the review and rating above, coinrule is doing well so far on customer satisfaction and can improve by working on negatives from its customers to enhance quality service.
Coinrule Mobile App
Coinrule can currently only be accessed through the website and while you can access the website on a mobile device, no mobile trading app is currently available. The company is working toward developing mobile capability to improve the customer’s experience in the future. End users will benefit from a mobile app that allows them to use Coinrule while on the go.
Coinrule uses it to simplify the complexity involved in trading to the first time trader who understands basic english which is the language used to configure the bot rather hard to remember programming codes. Strategies can be tested and optimised on the buy and sell points. You can adjust the rules to understand changes in cryptocurrencies and current market conditions and how to take advantage of them.
The login page shows the exchanges, rules and settings on the left. The exchanges illustrate the platforms and balances. The rules show all of the guidelines including methods to efficiently limit them. Settings show all of your preferences. The ability to customize the application to fit your exact needs sets Coinrule apart from its competition.
Coinrule User Benefits
The benefit of using Coinrule provides its customers the knowledge they need to improve their trading strategies. As a first time user, running the demo with paper trading is suggested to know how things work before trading with real money , backtesting different strategies and learning from your results. The skill and knowledge you gain lets you realize new rules and use previous guidelines to gain an edge over other manual and bot traders in the market.
Coinrule Security And Is Legit ?
A sophisticated security platform is used at Coinrule to protect your personal and trading information. This is done through authentication procedures, security measures like prevention of Denial Of Service attacks and payment protection mechanisms. Critical information is stored and confirmed using complex algorithms and military-grade encryption standards.
Denial Of Service attack prevention is priority to Coinrule. Coinrule collaborates with CloudFlare to monitor and stop the platform from going offline thereby achieving high availability rate.
Personal information is not collected directly by Coinrule, instead all payments are routed through Stripe. The payment is marked as merchant-initiated transactions and eliminates the need for credit cards usage and cost of high transaction fees. This extra layer enables Coinrule to secure your information.
These features make Coinrule a safe platform to use for trading. The security features form multiple layers which prevent hackers from breaking into Coinrule servers and causing disruptions of services. Coinrule has been a secure place for trading and learning about cryptocurrencies and the market.
Coinrule Overall Rating
So far, Coinrule has been an excellent platform for cryptocurrency automated trading. Trading can be practiced, rules created and improved at trading cryptocurrencies. Based on your level of experience, you may need to go through an extensive learning process to master the art. Staying patient and gaining more knowledge may help you become a better trader and achieve more profitable trades in the crypto market trading. The lack of mobile application usage is a significant drawback, which Coinrule is currently carrying out research and development to give its customer the best and continue to improve on its services.
You can access numerous libraries of tutorials on how to use Coinrule trading bots today.
Coinrule vs. Pionex
Every business has various competitors putting forward similar products and this is not an exception for Coinrule. Unlike most of its competitors, Coinrule lets you connect to some number of exchanges. It can be extremely helpful if you look to invest in different types of cryptocurrencies or simply want the best rate for your transaction cost.
Moreso, Coinrule differentiates itself through its comprehensive and extensive educational tools it provides to help users improve their trading skills with more experience.
Let us look at what differentiate Coinrule from Pionex which also deploy trading bots for cryptocurrency trading.
Pionex is one of the best crypto trading bot currently available, 24/7 trading automatically in the cloud. Easy to use, powerful and extremely safe. Users can trade various cryptocurrency with Pionex making use of the automated crypto trading bot.
Coinrule allows traders to compete using professional algorithmic traders and hedge funds.
Coinrule vs. Cryptohopper
Coinrule and Cryptohopper gives the basic function of aggregating all positions in one application. However, both offer much more than simple portfolio management strategies. There are numerous trading tools, programmable or automated buy and sell functions, indicators, signals, copy-trading and more. You can build your own trading bot, or buy an off-the-shelf strategy.
Let’s look at each platform and compare what you get.
Cryptohopper was believed to have started as a homemade trading bot. There are two brothers responsible who went on to shape it into a multifunction trading machine. Cryptohopper was released to the public in 2017 and it expanded from there, both in popularity and technological advancement.
Automated trading robots (bots) were their initial motivation behind the creation of Cryptohopper and they are still at the heart of the platform’s research and development. Cryptohopper enables traders to build a strategy based on whatever indicators they choose from the available tool set. They can backtest and tweak trading strategies, and perfect their bots based on market conditions. Once confident, they can let it run in the real world to trade.
Coinrule has their head office based in London, UK, they offer similar services to automated trading enthusiasts. Coinrule is in the business of providing high-quality market data feeds and facilitating superfast trade executions to end users. They claim that it lets you compete with professional algorithmic traders and hedge funds managers. Competing is one thing but winning the race is quite another, as we shall see below
If you are familiar with home computing, you will be able to install both of these platforms and use the basic portfolio management functions. Getting the best out of them, it helps to have a passion for trading bots usage.
The Cryptohopper team claims “You don’t need to be an expert to trade like one.” I would not disagree with the assumption, and they do provide some impressive tools for you to explore with. Their features can be used to make your unique trading strategy come to life, or you have the option to buy trading bots already configured. They accommodate traders of every level of experience.