If you’re in the crypto domain, you have probably heard many times that portfolio development is an essential element. Why?
Because a diverse and well-built portfolio can grow in proportion to your income. Using specialized platforms to develop your portfolio and try trading can save you additional effort and time. Coinrule is a platform that offers many benefits to users in creating a consistent portfolio.
Let’s see what it’s all about!
What is Coinrule?
Coinrule is a leading automated trading platform that lets you create customized rules or select from 180+ pre-designed templates. Once you choose your rule, Coinrule will automate trades on your behalf on your favorite exchanges.
The number of rules you can use, the number of exchanges you can connect to, trade volume, and the available number of trading templates you can access will vary depending on your account plan. Along with a free plan, Coinrule has 3 the paid plans:
It’s easy to test your strategies before you start trading by using historical data. Coinrule provides you with the opportunity to test your rules on TradingView. However, keep in mind that past performance is not an indicator of future success.
How does it work?
To test Coinrule, you can use the Moving Average Scalper template. This is a strategy designed to catch short-term rallies in all market conditions and reduces the risk of exposing your portfolio to volatility.
This strategy is easy to understand and lets you earn profits in various market conditions. Trades are closed quickly; hence you are not exposed to the risk of holding the coin for long.
The rule is straightforward to understand; it uses four moving averages. The strategy aims to detect and buy assets trading in a downtrend but on the verge of a possible reversal, then sell them for a higher price and close the trade.
In short, the strategy buys when:
- the MA9 crosses above the MA50
- the MA50 is lower than the MA100
- the MA100 is lower than the MA200
The trading system closes the trade when the MA9 is higher than MA200, which could be the first major resistance the asset faces before developing a more sustained uptrend.
Using Coinrule’s RSI robots
Conirule Indicators such as the RSI and other strategies might help identify high growth likelihood entry opportunities. This tool’s ideas will help you build a more solid portfolio and automate your investment choices in the long run.
RSI bots’ most essential characteristic is that they will make things simpler without demanding round-the-clock human supervision but merely periodic inspections.
And in times of market downtrends, the RSI rarely will be at high values, so the strategy will wait for more convenient market conditions before opening new trades.
Regarding cryptocurrency trading, bots are your most lucrative choice for making wiser decisions and avoiding expensive errors.
Performance
For example, you may not expect much of a return holding BNB in your portfolio. Yet the achieved profit in a week is 39.7% for this cryptocurrency.
It would have been impossible to catch this manually, but Coinrule can do it for you! Start automating your investments today with Coinrule’s automated trading bots.
