If you trade on the crypto exchanges, then most likely you have already suffered a lot from the lack of the ability to set a simultaneous stop loss and take profit. The market is very volatile and you definitely were in the situation when you just did not have chance to close the deal at the planned price. We bet that you also were in the situation when you wanted to buy “at the bottom”, put orders, bought, and the price went even lower and lower. Or you sat at night after the opened deal before going to sleep and tried to catch the expected price.
If you were always fine and you raked in the money, then do not waste your time and do not read further.
If any of this concerns you, then this review is mandatory for reading. Also this review may be of interest to beginning traders and long-term crypto investors, because STEROID offers an interesting solution for both: semiautomatic trading with the help of auxiliary tools that are not given on the exchange and fully automatic trading algorithm.
How to start?
- Sign up and get 14 days free trial. At the moment service has a special promo, ask about it in the telegram chat: https://t.me/steroid_one_en
- Do not forget to enable 2FA.
- Connect STEROID to your exchange account via the API with rights to view balance and trade. (At the moment STEROID supports 3 exchanges: Binance, Bittrex and Yobit)
- You can connect your Telegram for operational notifications of transactions.
Now everything is ready to start earning. Let’s talk about features that STEROID provides.
First of all, there is a strategies testing mode. It’s really cool and very useful for beginners. n this mode, you can trade absolutely without risk of losing funds, since all transactions you have are virtual. Data from exchanges is real. This mode can be enabled in the settings, and also it can be enabled when creating a new task after you have enabled it in the settings.
In order to open a deal, click “New task”.
- We choose a stock exchange and a pair.
- Then we choose the direction of trade Long or Short. You can earn in both a bullish and bearish market.
For beginners, this all may seem complicated, but the service has an exhaustive description of each button, so it will be difficult to get confused.
- Choose the type of purchase. There are a lot of types, but it’s worth noting “buy after bounce up”. This is the case when you buy at the bottom, and the coin continues to lose it’s value. Using this function, the service will buy a coin only when the rebound comes, when it is safe and it is very unlikely that the price will fall again.
- Next step. We set the selling settings.
Trailing stop loss is a cool function that STEROID modernized and improved. It works on the principle of “follow the trend”, extracting the maximum profit from the deal. To put it simply, the higher price of the coin goes from the initial one, the higher the stop loss will be.
This feature follows the price movement – in profit, in proportion to the value set by the trader until the price rolls back in the opposite direction to the open position and the deal closes.
But you can also specify the percentage of profit. When this percentage is achieved, the corridor of the trailing strongly narrows.
A short example:
You bought LTC for $100, stop loss is set at -3%, shift of stop loss = -2% and take profit is set to 5%. Initially, the stop loss is at $ 97. When the price reaches $105 mark, the stop loss will move to the level of $ 102.9 (minus 2 percent of the maximum price).
This function is priceless for the crypto market. If growth begins, it can be very, very strong. And this is exactly the moment where you can make huge profits. But without this function, when trading by hands, you are likely to be too emotional and will not be able to extract the maximum from the deal. But STEROID can do this.
- Here you also set the stop loss fixed or moving (with trailing).
- Trailing can be used simultaneously with the classic take profit divided by 7 targets.
- And the last feature – Restart.
As you can see, there are 3 options, restarting the task if it hits take profit, or a stop loss, or both. Thus, when a deal closes under one of the conditions, it automatically restarts with the same parameters.
This is a cool tool that essentially makes the real trading bot. This can work great, if the coin is traded for a relatively long time in a certain price range (in flat).
You need to set the settings once: where to buy and where to sell, enable “Restart the task, if it hits take profit” feature and then the bot can make many profitable deals for you. If the coin falls below the range, then stop loss works. Afterwards the bot will no longer open deals.
When you added a task, it is displayed in the “My tasks” tab.
In this tab you can see all the detailed information of each deal.
When it was opened, for how much, trade size, profit, where the targets are set. You can forcefully close the position. Or close all positions at once by clicking on the “SELL ALL” button.
Among other things, we want to note the user-friendly interface from all devices, as well as high-quality and prompt technical support.
Your funds are safe
As the API rights to withdraw coins are closed, your funds are fully preserved. All the coins remain on your exchange account, and the API keys are securely encrypted, so even if the service database is compromised, the attackers still do not get your keys.
Also STEROID uses two-factor authorization (2FA), thus security is at the highest level.
The service works by subscription model. The tariff is one. It includes all features without any restrictions and without any additional commissions. The cost of the subscription is 0.01 BTC per month. Discounts for long periods provided.
Automatic trading based on Machine learning
So, we came to the most interesting part of the review.
STEROID states that within a month, a fully automatic trading algorithm will be available for users. This means that in fact you just need to click on the “Start” button and the party begins. The developers say that the approximate profitability per month is from 5 to 10% to BTC. Moreover, this percentage of returns is received in a bearish market. If it is stable, as the service claims, then it is worth seriously considering this investment.
The trading algorithm is self-learning, it works on the basis of analysis of a huge amount of data, which can be adjusted to the current state of the market. STEROID has been developing this algorithm for more than 11 months.
The working mechanics is exactly the same as for the main functional. The funds remain on your exchange account. Profit and information on deals you see in a separate tab.
Pricing of this option is not yet reported. BUT this is known for sure: AUTOMATIC TRADING IS AVAILABLE IN 14 DAY FREE TRIAL.
- Website: https://steroid.one/en
- Sign up: https://dashboard.steroid.one/auth/signup
- FAQ: https://steroid.zendesk.com/hc/en-us