Cryptocurrency trading can bring good profits of several hundred percent per annum in case of successful transactions. However, there is a risk of losing all invested capital. This is directly related to the high volatility of the market since the market is rapidly changing, and it requires quick decisions on trades. Therefore, many traders try to automate trading in order not to miss a profitable trade. One of the effective automated tools is considered Autofollowing on the Cryptorobotics platform. This service is appropriate for both inexperienced traders with no knowledge of the cryptocurrency industry and experienced traders looking to diversify their investment portfolio and increase their trading activity.
In this article, we will look at whether Autofollowing is worth using and how effective it can be.
Meaning of Autofollowing
Autofollowing is an innovative service for automating cryptocurrency transactions. It allows traders not to waste time analyzing the market and making decisions about buying/selling assets. The service is configured once and works based on signals provided by an experienced analyst.
The bot automatically processes signals and opens orders according to the selected settings. To start using the service, you need to go to the Algorithmic trading section on the Cryptorobotics platform and select the Autofollowing option in the menu. Such a tool is great for both beginners with no experience in the cryptocurrency industry, and for experienced traders who want to diversify their investment portfolio and increase the number of trades.
Types of Autofollowing
Cryptorobotics is a platform that provides high-quality trading signals for cryptocurrency traders. The platform offers various channels, each with its own unique trading strategy and focus.
The Autofollowing channel offered by Cryptorobotics is operated by Cryptoleks, a provider of profitable signals for top altcoins on exchanges such as Bittrex, Binance, Binance.US, Binance Futures, Bybit, Bybit inverse, KuCoin, and OKX. The payment for using this tool is based on a profit-sharing system, where Cryptorobotics takes 25% of the profits.
Another channel provided by Cryptorobotics is Red Indian AI Beta, which offers auto-following of signals generated by an AI-based scalping strategy. The channel is available for trading on Binance and Binance Futures, and the payment for using it is also based on a profit-sharing system, with Cryptorobotics taking 10% of the profits.
Aggregator AI is a channel that aggregates all the AI-based trading strategies available on Cryptorobotics. It trades exclusively on Binance and Binance Futures, and the payment for using the service is also based on a profit-sharing system, with users only paying 20% of the profits.
AI Columbus Futures is another channel that provides users with predictions based on machine learning. This service only trades on Binance Futures and takes 10% of the profits through a profit-sharing system.
Trend Up is a channel that uses technical analysis of volume levels to open trades on exchanges such as Binance, Binance Futures, Bitfinex, Bittrex, Bybit Inverse, Gate.io, and OKX. The cost for this channel is $24 per month.
Quasar Signals is a channel that uses medium and long-term trading with averaging in the spot market. It requires a deposit of 5-30% on exchanges such as Binance, Bitfinex, Gate.io, Huobi, Kraken, and OKX. The cost for this channel is $30 per month.
Jerry McLaren provides short and medium-term signals for those who are willing to take risks. The channel operates on Binance and Binance.US, and the payment is based on a profit-sharing system, with users only paying 20% of the profits.
AI Alpha is a channel that offers strategies developed by a professional team of Quantum Engineers. The team has developed several strategies and perfected them over the past few years. The strategy is developed using technical and proprietary indicators to identify entry points for high-yield trades. The strategy can be considered a type of DCA (dollar-cost averaging), with signals that may take some time to execute. Some trades may close within a few minutes, while others may take longer.
E-Trade Hedge is a channel that offers trading signals based on high-quality analysis of the best coins available on Binance Futures and Bybit. The cost for this channel is $25 per month.
E-Trade Hedge PSH is a profit-sharing version of the E-Trade Hedge channel, where users only pay 20% of the profits.
How does Autofollowing work on Cryptorobotics?
Before starting to use the Autofollowing service, each user needs to see how this feature works. To do this, you need to go to the Algotrading section on the site and select “Autofollowing” in the left menu. In the window that opens, several channels are presented, for each of which you can view summary statistics. Statistics include cumulative profitability, the number of signals/trades for the entire period, the exchanges for which signals are received, the number of subscribers, and the cost of a subscription per month.
For more detailed information on channel statistics, you can select the “View Statistics” button, which will redirect the user to the channel page. The channel page provides information on
- the average profit per signal/trade,
- the Win/Loss percentage chart,
- the percentage of achievement for each of the strategies (conservative, moderate, risk),
- profitability for each of the strategies, and the graph of the cumulative increase in income from signals/trades per channel.
The statistics of each of the signals include:
- the date the signal was created for the trade,
- the goal and profit for each of the three strategies,
- the date and time of the trades for each of the strategies,
- the exchange on which the trade was made,
- a chart with all signal parameters (buy range, strategy targets, stop loss) and the status of pending trades
On the chart, you can track the moment the transaction was made, as well as track the position of the price concerning the sell target using pending transactions.
How to launch Autofollowing on the Cryptorobotics platform?
To use the Autofollowing service on your account, you need to follow a few steps:
- Select the desired channel from the options provided.
- Click the “Subscribe” button and pay for the subscription.
- After subscribing to a channel, the “Settings” and “Start” buttons become available.
- Before starting Autofollow, you need to set up parameters such as choosing the exchange key, strategy, base currency, balance, and lot size.
- After setting the parameters, you can start Autofollowing by clicking the “Start” button.
- After making the first trades, in the “My Statistics” section, data on settings, Win/Loss charts, and the cumulative income chart, as well as statistics for each of the trades, will be available.
- To diversify your portfolio, you can subscribe to several channels and choose the most profitable one.
- It is important to disable the hedging mode when trading on Binance Futures.
Using this service, you can greatly simplify the process of trading on the stock exchange and receive income from various signals without spending a lot of time and effort on independent market analysis.