Due to the vast fluctuations in the digital markets, we find that the prices of cryptocurrencies are constantly changing quickly and unexpectedly. Therefore, Whaletank Autotrader is essential, considered one of the best technical tools used in this market, and has become very popular among traders in recent years.
Whaletank is proud to present its first version of the auto-trading concept by taking its trading methods and real-time technology to the next level.
Developed with a simple-to-use approach by emphasizing security and performance, customers can put all the Binance signals on an automatic execution mode in a few simple steps.
What are Autotrader robots? They contain unique algorithms that analyze data in cryptocurrency exchanges and provide additional tools for more efficient trades. These Autotraders facilitate and automate the work of traders, as you no longer need to sit for long hours in front of a screen and monitor price changes. You can set parameters for the robot, which will buy and sell digital currencies on your behalf. It also allows you to trade on multiple exchanges and several currency pairs simultaneously.
Autotraders play the role of the investor in making investment decisions from buying and selling and in carrying out trades more accurately, quickly, and without any errors. These bots work based on a realistic and real-time reading of the current market, its volatility level, and expectations of daily price values.
Technically, Autotraders are automated trading programs that rely on artificial intelligence, algorithms, mathematical formulas, and highly complex mechanisms to provide real-time information on the cryptocurrency market. And based on the results of this market survey, the robot can make an accurate investment decision. The accuracy or lack of sentimentality like real investors are not the only advantages robots have, but the essential benefit is profit.
Choosing the right trading robot will help you double your initial deposit. But as with all other financial assets, there are pros and cons. So before making your decision to get a trading robot that will help you in the cryptocurrency market, you should familiarize yourself with the advantages and disadvantages of Autotraders.
- It helps you deal with your emotions and control your emotions while trading. Cryptocurrency markets are inherently volatile, and beginner traders may be influenced by market news, whether positive or negative. They may make impulsive decisions that will affect their portfolio in the wrong way. While robots are not subject to feelings or emotions, they base their decisions on logic and algorithms. They do not hesitate, and this makes its accuracy much higher than that of humans. Some robots can be as accurate as 99%, which means they place almost no losing trades.
- Autotraders offer high and efficient returns due to their ability to analyze a large amount of market data and simultaneously analyze several cryptocurrencies’ performance and trends. At the same time, human traders can analyze a few of them at a given time.
- High speed is the essential feature in the crypto world. Usually, it takes time for the human trader to execute trades, which may lose its value. But robots place market orders instantly and execute trades as soon as possible, according to available data.
- Autotraders are more effective than humans because they can scan and process all information available on a particular cryptocurrency and execute a trade, all in a matter of seconds. Instead of manually analyzing the markets, checking and waiting for a profitable trade, and continuing with the withdrawal process, the trading robot will take care of it all for you.
- Autotraders operate 24 hours a day, seven days a week, and of course, the same cannot be said for a human trader. Even the most specialized and experienced cryptocurrency traders cannot spend 24/7 in front of the trading platform or phone screen. Still, the trading robot is always available and can monitor the market even in your absence.
How does the Whaletank AutoTrader bot work?
Using the WT AutoTrader bot, you will need to get your API key from the crypto exchange. For now, the auto-trading service is applied only on the Binance.com exchange and does not involve any other exchange whatsoever. Auto-trading uses only for Spot and Futures trading and doesn’t include any other type of operations on Binance.
Whaletank AutoTrader Financial Instruments
The latest version of the Auto-trading service provides the ability to execute signals in the following markets:
2.1 Spot market
The Auto-trading service will be active only on the BTC pairs market in the Spot market; the quoted asset will always be the BTC, while the base asset can be any Altcoin provided by Binance [Altcoin/Bitcoin].
2.2 Futures market
Even though the Futures market uses only USDT as the quoted asset, Whaletank customers can trade Futures while having only BTC in the Spot wallet, and this is done via the swap engine.
Understanding the Calculation
2.1 A simple example
The following example will help you to understand how each signal calculation is made. The same calculation applies for any given market, where is it Spot or Futures.
let’s assume that your current Binance account has the following funds:
- 0.2 BTC
- 1,200 USDT
In addition, let’s assume that 1 BTC = 10,000$.
In this case:
- Total Capital = 0.12 (USDT/BTC) + 0.2 BTC = 0.32 BTC.
- Free Capital = 0.2 BTC
As been said previously, all calculations are made based on your Free Capital. Now, let’s assume that we’ve released a signal with some Entry/SL/TP points, with 10% of the capital.
In this case, 10% from the Free Capital will be 0.02 BTC; this amount will enter the position. If the signal made 30% profit, that would be 30% from the 10% we used, which means 0.006 BTC profit; after the signal ends, the profit will be added to your Free Capital; the next signal will follow the same rules.
2.2 SWAP Engine
Since Binance provide different wallets for different markets, we have to take into account any possible scenario before executing a trade, meaning having the ability to swap currencies between the two markets, from BTC in Spot to USDT in futures and vice versa as needed (Other types of currencies except BTC or USDT will be bypassed)
This option will be available only after activating Spot and Futures markets at the same time in the Auto-trading cabinet (See page 5, 2nd picture).
There is no interface for this feature; it will work automatically in the background.
Pricing at Whaletank
During the life cycle of the alpha version, Whaletank will not be charging any fees whatsoever in addition to the premium membership.
Premium membership includes the following features: deeper insights about the market, predictions on future movements, take action signals, Whaletank Autotrader, live updates, access to premium chat, referral program.
Why do you need Whaletank Autotrader?
Whaletank AutoTrader bot is a great option. There are many overlapping features, and if you are looking for a simple automated trading option, this AutoTrader should fulfill your needs.
With the Whaletank bot, there is no free trial period, but after becoming a premium member, you will have four days to use the refund policy if something goes wrong. Whaletank AutoTrader bot is more straightforward because you’re free to go; it will be ready to execute trades as you set it.
Whaletank AutoTrader provides you with fully automated trades. And provides clients with 24/7 support from leading analysts, deeper insights about the market, predictions on future movements, take action signals, live updates, and access to premium chat, referral programs.
After the great success of adding the manual calculator in Whaletank’s platform and allowing users to manually calculate the risk exposure for each given signal, to facilitate the process of calculating the risk, it’s been embedded inside the Autotrading engine.
This way, all the risk calculations will be made automatically for each individual user.
You will see the risk exposure on the Telegram channel’s signal parameters from the client-side.
The risk parameter will be given as a percentage and it means what is the risk for each given trade, for example:
You have an account with a balance of 1000$ (Free capital); we launched a signal with a risk of 3%. In case of stop-loss has been triggered, a 3% loss accrued, which means 30$.
A Word on Safety
The biggest concern surrounding automated trading platforms is their privacy and how they keep their clients’ funds safe. While Whaletank AutoTrader uses industry-standard safety protocols, you are risking losing your funds whenever you generate an API key for your account.
Every trader has to calculate risks for himself and, if choosing bots- keep their private keys safe and enable automated withdrawals to prevent asset loss. And these risks are not specific to comparable bots.
FAQ about Whaletank Auto Trader
1. I’ve connected my Binance account for the first time; why I don’t see any open trades in my trading account in Binance, although I do see signals in Whaletank system?
After connecting your Binance account to the Auto-trading service, only the successive following signals will apply, this is done by purpose, and that’s how the system is configured. However, that as a premium member, you get to see all the latest active signals.
2. Can I shut down my account from the Auto-trading service?
Yes, this option can be made easily by switching off the Trading option in your cabinet, although we recommend not doing so while there are active signals.
3. I deleted the API in my Whaletank account. Can I create a new one?
Yes, follow the same rules from the start; you may need to create a new Binance API key.
4. Why do some signals take too much time to get to the Target Price?
That is happening since some of the coins may suffer from low volatility.
5. Do I need to take any action in my Binance account during the Auto-trading?
No, all the operations are made on our side by our team.
6. I’ve noticed that some signals did not execute in my trading account in Binance; why and what should I do?
Some orders may not be filled quickly enough due to low order book supply. In this case, you need to wait and be aware that it might Buy/Sell with a slight difference from the original given price.
In addition, please note that Binance has a minimum order size of 0.0001 BTC in the Spot, while in the futures, there are no limits whatsoever.
If you are facing some other issue not listed here, contact our support directly to examine the problem in more detail.
7. Can a Binance.us account be connected to the Auto-trading service?
No, currently, the Auto-trading service supports only Binance.com.
8. Can I execute the signals manually before connecting the Auto-trading?
Yes, log in; on the left menu, click on Signals and follow the Entry/SP/TP points
9. Can I keep executing trades on the free amount left while some signals are still running?
Yes, you can, although we recommend not doing so since the amount of the free capital will be less, which means your next order size will be smaller or could not be executed due to too small Free Capital.
10. I have left some small portion of the coin the signal was executing against; what should I do with that?
This can happen sometimes; we recommend converting all those small portions to BNB, which will provide us a future discount when executing more of these signals.