This is my experiment in automated crypto trading. I’ve been a crypto bitcoin hodler for quite a long time, but I recently changed my perspective. I wanted more profit, true. But I also recognized that the cryptocurrency market has changed, and more retail and institutional investors stepped in. I realized the volatility of altcoins and saw the opportunity with the traditional DCA (dollar-cost averaging) investment strategy. I will try a crypto trading bot to create a profit on the volatility of the cryptocurrency market.
That is my plan. Let me show you my progress. I try to update this post as regularly as often, usually on weekly basis. I’ve been using TradeSanta for over one month so far.
Why I Started My Crypto Trading Bot Experiment
I was introduced to Bitcoin, Ethereum, and blockchain technology with its cryptocurrency market by one of the nomads in Thailand’s coworking space. I was traveling the world as a digital nomad at that time (2016). To tell the truth, crypto changed my view on the financial market.
While exploring blockchain start-ups and cryptocurrencies, a visited many crypto events in Europe. I loved face-to-face networking with other entrepreneurs, investors, and interesting people. Unfortunately, Covid-19 hit our world in 2020, and all events went online. I was sad because I couldn’t connect to people on the same level as I was used to. Also, my traveling stopped, and that influenced my open-minded mood as well.
From time to time during 2017 – 2020, I traded some coins, but to be honest, most of the time, I broke even or took a little loss. I mean loss with comparison to staying invested in Bitcoin. I profited if the benchmark was the US dollar. But I lost some BTC because I wanted to profit from altcoin growth.
You may know that strategy. Trading altcoins and taking profits to buy more BTC. Clever but hard to execute.
I’ve invested in stocks since 2015, so I know a bit of the psychology behind investing. I believe that regular investing brings profit along the way if you are willing to stay on the track for a long time. This strategy has brought me a nice profit so far. It is also known as a DCA strategy; below, I write more about it. I’m a more fundamentally oriented investor and always looking for the value of the asset.
Bigger Potential in Cryptocurrency Market
After some years of hodling crypto assets, I watched how retail investors stepped into the cryptocurrency market. I knew I have to change something. Hodling is great, but the cryptocurrency market has a bigger potential, hasn’t it?
Let’s experiment with an automated DCA strategy on the cryptocurrency market, I said to myself.
I decided to try TradeSanta, the automated trading bot platform. You don’t need to install anything; it is a cloud-based software. It has a very intuitive UX, easy to navigate, and super easy to set up. I tried some other automated trading bots before, including the free trading bot Cryptohooper, but it was a bit struggle for me to set it up, and I wasn’t sure that I set up everything right.
TradeSanta crypto bot is a paid service. You can use a 3days free trial and see how it works. Honestly, those 3 days are not enough to give you an idea if the trading bot works for you or not.
And that’s why I wanted to share my experience with you, so you know what you are signing up for.
After reading many reviews, I decided to pay for an advanced plan for a one-year subscription and give it a try.
Transparent TradeSanta review
I work in marketing, and I also see how advertisement in the crypto space works. Reviews are written by bloggers who didn’t use the service; they just want the affiliate commission. Honestly, I’m not too fond of that kind of marketing. I do affiliate marketing as well, but I believe in transparency and being honest with my readers.
Many crypto trading bot’s reviews are written just to get an affiliate commission. Sometimes, it can be tough to distinguish if the review is the author’s opinion or is just a marketing pitch.
But don’t get me wrong.
An affiliate marketing is great, and it can be done fairly and correctly, I believe. Once the article brings value to readers, it’s perfectly okay to promote the service.
I write this article with my insights to provide you an honest and transparent TradeSanta review. So you can decide whether it is the right tool to try or rather not. I’ll appreciate it if you register via my affiliate link. Full disclosure, I’ll get a commission. But you can be sure that your price is always the same, you don’t pay more. And I always write about my profits and losses as transparently as I can.
My Week Zero on TradeSanta
I started using TradeSanta on 9th March 2021. It has been almost one week. The first four days, I experimented with setting up my trading bots and haven’t used all the balanced that you can see in the picture below.
I deposited more crypto on 13th March and also added more of my trading bot.
Daily profits from the last days range from 30 to 40 USD while having a balance of around 7000 USD.
My trading pairs
Long strategy
- Cardano: ADA — USDT
- Stellar: XLM — USDT
- Binance coin: BNB — USDT
- Litentry: LIT — USDT
- Elrond: EGLD — USDT
- Polkadot: DOT — USDT
- Algorand: ALGO — USDT
- Chiliz: CHZ — USDT
- Enjin coin: ENJ — USDT
Short strategy
- VeChain: VET — USDT
- Cardano: ADA — USDT
- Stellar: XLM — USDT
- Chiliz: CHZ — BTC
My trading strategy: DCA bots
I chose a DCA, dollar-cost-average strategy because I believe in this investment strategy across all financial assets. That’s one of the main reasons I chose to try automated DCA bots. I could do regular buys manually but not as frequently as my trading bots, and my emotions would come into play and most probably destroy my plan.
Dollar-cost averaging (DCA) is an investment strategy in which an investor divides up the total amount to be invested across periodic purchases of a target asset to reduce the impact of volatility on the overall purchase.
What is DCA strategy?
Here is an explanation of the DCA strategy.
Below, I share the setting of my trading bots. Here is an example with trading pair ADA – USDT.
Access: BINANCE
Pair: ADA-USDT
Take profit: 0.7%
Trailing take profit: 0.3%
Step of extra order: 0.7%
Max count of extra orders: 120
Order volume: 11 USDT
Max number of cycles: 120
If you want to be sure that you can handle 30% correction, make sure that you have ideally 500 – 700 USDT (or equivalent) for one trading pair on your budget. I usually set up a 500 USDT budget for one trading pair. In other words, it means that if you set up 13 trading pairs, you should have at least 6500 USDT (or equivalent) in your balance on your crypto exchange.
I use Binance as my crypto exchange. If you are new, you can register with my referral link and get 10% off from trading fees as a bonus.
The 30% correction budget is based on historical observation of crypto prices and their growth and corrections.
The minimum order volume is 10 USDT on Binance. I usually set up 10 – 11 USDT.
You can use the strategy above for long trades and short trades as well.
The PRO feature Trailing Take Profit, which comes with an advanced plan is not necessary but based on my research, it brings more profit.
What is Trailing Take Profit
Trailing take profit waits until Take Profit is reached and then activates Trailing Stop. Stop order only moves in one direction. Have a look at the video below that explains the Trailing Take Profit feature.
My insights from TradeSanta
1) Set up a long strategy for a coin that you really like
Don’t set up a long strategy for a coin that you don’t like because if the market go the opposite direction for more than 30 percent, you might end up with the coin. If it is the coin you believe in, that’s great, because you bought it cheaper. But if it is the coin you just bought because you want to trade, you will get sad if not furious.
Combination of Long and Short Strategy
2) Set up a long strategy and short strategy combined for one trading pair if you want to take profit on a volatile market.
It’s one of the favorite strategies because you buy the coin and sell the coin and basically take a profit meanwhile. It seems to be a go-to strategy for coins that you either like or don’t like or see that the trading pair goes sideways.
Get a Discount
3) Make sure that you use BNB Deduction (25% discount) while trading on the Binance exchange.
Go to Binance — Dashboard and make sure that you have checked the option: Using BNB to pay for fees ( 25% discount )
Enough Binance Coin for Trading
4) Make sure you have enough BNB for your trading fees
How much money do you pay on fees while using TradeSanta? It depends on how many bots you have created and their activity you will. Let’s calculate that you set up around 20 bots and use the equivalent of 10.000 USD for trading; you might spend around 200 USD for transaction fees.
It might seem a lot, but the trading bot will pay you back. As you can see from my first week, it’s worth it.
Based on my experience, you should start with at least 1 BNB on your account.
TradeSanta Mobile App
5) TradeSanta is avaliable as a mobile app
I use it to turn on or turn off bots manually. I also check twice a day if my balance of coins and USDT is okay, and I still have funds to run my bots. The mobile app is really UX-friendly.
Learn on the Way
6) TradeSanta shares the most profitable crypto pairs so that you can create a new trading bot based on user general knowledge
That’s how I set up bots for Chiliz (CHZ) and Enjin coin (ENJ). Also, you can discover a new rising star in the cryptocurrency market and invest in them more.
Volatility is your Friend
7) I want to do more research in volatility to set up trading bots more efficiently
I’m not sure if the setup for taking profit at 0.7% is the most efficient for all trading pairs. Probably not. I’ll do deeper research on crypto volatility in the next weeks to understand the issue more. I’ll share that in one of my next reports.
Grid strategy and Smart orders
8) I want to learn more about Grid strategy and Smart orders
Grid strategy and Smart orders are trading features on TradeSanta worth exploring. I might set up a new bot with those features in the upcoming weeks. Before that, I want to set it up right, so I give myself a little bit of time to study it more.
Favorite altcoins
9) Cardano and Chiliz are my favorite altcoins for price speculation
Thanks to TradeSanta, I’m cautious about altcoins and their growth potential.
Crypto strategy
10) I respect my crypto strategy
I want to be sure that I know and respect my crypto strategy. I know my place in the cryptocurrency market. I’m a hodler not a trader. I use the automated trading bot to increase my amount of crypto assets. I invest the profit from trading back to Bitcoin. BTC is my most favorite crypto asset and it is the only one that I truly believe in.
Make sure that you set up your crypto hodling and trading strategy.
My TradeSanta Report after One Week
Here is my quick update on 19th March. All I can say after 10 days trading with TradeSanta automated bots, it’s been a profitable first week. I earned up to 40 dollars some days. I haven’t done any changes so I use settings for my bots as I described above.
I’m already in profit 227 dollars.
My TradeSanta Report after Two Weeks
Updated 25th March
After two weeks of trading, I can say that my daily profits range from 10 to 40 USD. It depends on cryptocurrency market volatility that no one can predict. I’ve made a profit of 300 USD that is great and I believe that it is possible to make around 500 USD per month. It is almost a passive income, but I still testing this tool and it is a bit early to say if it works.
I add one trading bot UNI – USDT with a long strategy. Here is an overview of all my bots. I’m not sure why I have ENJ-USDT Long with Status Off, but normally it is running. What I did intentionally was to pause but VET – USDT Short.
Let’s see how the next week will look like.
My TradeSanta Report after Three Weeks
As you can see the most recent days were profitable from 10 to 35 USD per day.
Trading pairs remain the same.
My TradeSanta Report after 1 Month
Well, I’ve been using the TradeSanta trading bot for one month, and here is what I think about it. I paid for an advanced subscription at the beginning and it cost 240 USD per year. After 30 days of automated trading, I realized a 587 USD profit. That is great! I’m already in real profit!
As you can see, my average daily profit is still between 10 to 40 USD. It depends on the crypto market conditions.
I made few changes to my bots and decided to turn off some of them and started few new ones. The settings are the same but the changes are on trading pairs. Because of the craziness of BNB (Binance coin), I turned off the BNB/USDT bot because of safety. The price skyrockets and I could have made a lot of money with the bot. But I rather play safe than risky.
Long trades: ADA (Cardano), LIT (Litentry), DOT (Polkadot), ALGO (Algorand), UNI (Uniswap), CAKE (Pancake), VET (VeChain)
Short trades: ADA (Cardano), CHZ (Chilliz)
My TradeSanta Report after 50 Days
After using the TradeSanta trading bot for 50 days it made me a nice profit of over 1400 USD. A few days ago we all experienced a bearish movement in the cryptocurrency market, but the prices went up after 48 hours of drop. That was the reason TradeSanta bots made over 100 dollars a day on 18th April and 23rd April.
My current set up is below:
Long trades: ADA (Cardano), DOT (Polkadot), CHZ (Chiliz), CAKE (Pancake), VET (VeChain), SOL (Solana), Stellar (XLM), BNB (Binance Coin), EGLD (Elrond Gold)
Short trades: none
Updated on 26th April
Try TradeSanta Crypto Trading Bot
Are you interested in automated crypto trading with the DCA strategy? Come back next week to read the next report. Or do you want to try trading with the bot by yourself? Follow these steps:
- Register TradeSanta via my affiliate link and receive my support during set up and trading
- Verify your e-mail address by clicking on the link sent to you after registration.
- Connect TradeSanta to your crypto exchange (via Access Point – API).
- Create a bot (you can get inspiration from my shared settings).
- Start a bot (and enjoy taking profits).
Let me know after your registration; I can guide you and help you with setting up your bots. Questions are welcome.
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously.
