Trading Solution for Binance and Bitmex Signals
Due to our widespread post about Crypto Signals, we are often approached to join this channel or write about that provider, and mostly we decline. However, the solution by SwT – a swing trading channel – is a fresh approach, as it is hands-free for the customer. We did not test this service itself with our accounts but want to write about this solution, as we knew from our reader's emails that there is quite a demand for that. While we stay away from any settlement, where a bot is executing trades without a pair of human eyes, the SwT is an API Auto Trading Bot. This means mainly that their traders do the technical analysis, the bot executes the trades on the client accounts via API.
Please know, that giving someone else the possibility to send trades to your account comes with a risk, you must be willing to take. Let's have a look.
SwT is a trading group, that is around on Telegram for quite some time. Their way to generate profits is swing trading, which means they are offering signals based on fast price movements and close the trade within a day. Instead of buy & hold, they anticipate a price increase in a short-term timeframe. This, of course, often results in lower gains per trade, but the total amount of trades on a single trading day is much higher than usual (sometimes even 30-40 on a single day). It is about reaping many small profits, which combine to a more significant gain. However, for swing trading, you often need to be fast, and you have to be around to listen to the channel and execute many trades, which can be difficult if you work or have a family life. Based on this situation, SwT started to search for a solution to execute their trades per API and send the signals directly to the customer's Binance account. This way also people with a busy life can participate in their short-term trades.
The Crypto Trading Solution by SwT
There are several plans SwT offers to subscribe to and depending on this plan you can
a) get access to their Telegram channel and execute the swing trades yourself
b) hook your API key to their bot and let them perform their Binance trades
c) provide your API key to their bot and allow them to execute their leveraged Bitmex trades
For both API solutions, you have to deactivate the withdrawal option for security purposes when generating the key. The SwT bot does not execute trades if the API key allows executing withdrawals.
Let's tackle down each of their options:
Crypto Swing Trading Telegram Channel
Their crypto swing trading channel is now four months in existence and can look back on a pretty good win-rate and a growing, satisfied customer base (from the sentiment in their chat rooms). The trading team by SwT observes coin movements on Binance 24/7 and issues many short-term/small gainers trades, which accumulates a cute profit percentage over the day. Their service covers Binance only, but if they find some hidden long-term gems with good potential, they let their members know and inform them about it.
Binance Auto Trading
As SwT issues often 30-40 of these short-term trades it can be hard to follow them. You need much screen time to participate in most of the trades, and we guess it is impossible to take all of them. That being said, this is a crucial part to get the full gain potential with them. There will be a few losers with the swing trading methodology, and this is common – the overall results shall bring positive results, so it is important to take most of the trades. Using an API Auto Trading Bot is the next logical step it seems, and this might be the reason why SwT hired a dev to get this bot done. With their solution buy and sell orders get placed automatically without the need of any user interaction. It trades the swing signals, while the user is sleeping or on a whale-watching tour in Iceland. The channel claims an account growth of 95% of their Binance account, once the bot came to use in mid of February. The bot offers an interface for the customers to enter the wished amount in total, which they want to trade and are willing to risk. They can set a particular amount per trade as well. If you're going to start a test run with the Binance auto-trading solution, you might want to use it for a week with minimal amounts of your equity to check out how things are going. If you try it with a conservative number of 1% you can calculate your way up to 5% or 10% and decide later on, depending on your risk appetite. However, it is essential to get a feeling for how things work and to get confidence that everything is working out as expected on a technical level. As a special feature SwT offer to move your funds into BTC or USDT if they anticipate huge moves. Quite unique is their full refund guarantee. If you are not satisfied with their services they will refund you the last paid fees.
Bitmex Auto Trading
This one is for the risk lovers, as you can also hook in your Bitmex account with their API Auto Trading Bot. For leveraged Bitmex trades, SwT does support & resistance based trades that fish for 200$+ moves. In a sideways movement environment, they focus more on scalping within shorter time frames. They usually use 10x leverage for their trades unless they are scalping. While this service is just one month old, their start has been pretty nice, showing a 400% gain on the master account.
For Bitmex, you don't have the option to decide on an amount for a particular trade. They follow strict risk management rules and set the amount of the trade accordingly to your account size, percentage-based. Trading-leveraged contracts on Bitmex is risky, and some service subscribers may not be aware of proper risk management techniques, they claim to take responsibility for this as it plays a vital role in generating steady gains. That being said, SwT does not make use of stop/loss. But subscribers can define the wanted risk level from there side. They state that it does not match their trading style as it would decrease the gains, as per the vast volatility crypto in general offers. Instead of stop-loss, they use an average-out technique. However, the customers can put a stop/loss on their own.
Also here we have a nice offer for the case something turns out wrong: If they issue a trade that results in a big loss, they will refund your fees, so you have some equity to recover. Once recovered, you re-pay those fees.
The Auto Trading Tech Behind
For research reasons, we contacted the dev behind the bot and had a quick talk with him. These bots have to work correctly, so nothing gets messed up. The developer seems to know what he is doing and uses a hook to telegram to post the signals to a particular channel. We did not see the bot working live but asked some of their customers in private about their experiences and they have seen no major issues so far. There have been some failed orders, but this has been resolved the team very fast. According to the users, they did not suffer from Bitmex's “System overload” problem as the trades are placed before the action starts. If an order doesn't get placed, the bot is coded in a way to keep trying at the needed price. SwT states to execute extra trades manually if a customer faces this issue.
This auto trading solutions come with pricing as follows:
Premium Plan (Binance Auto Trades)
(for accounts <0.1 BTC)
0.021 BTC – 1 month
0.045 BTC – 3 months
0.085 BTC – 6 months
0.14 BTC – 1 year
0.3 BTC – 3 years
No performance fee is collected for PREMIUM users.
Elite Plan (Bitmex Auto Trades)
(minimum account size >0.5 btc)
0.5 btc 1 month (+ a fee of 15% of the generated profits once the initially paid fees are earned back)
0.25 btc one time (+ a fee of 70% of the generated profits)
0.35 btc one time (+ a fee of 50% of the generated profits)
We asked them how these fees are collected as this made us curious. A performance-based fee is pretty unusual in the crypto signal scene and is actually a good sign that SwT is confident with their returns. They told us that these extra fees are collected on a weekly level. They tell their subscribers to calculate the due fees themselves and to send them accordingly. Though this is not as trust-based as it might appear, as SwT can check the balances through the API.
We are against completely automated bot trading, as we have never seen a working bot that is able to stay profitable on a consistent level. We have to differentiate it to this solution, as it is an API Auto Trading Bot that trades signals by traders. Actually, it is only used to send the trades directly per API to the customer accounts. The results look pretty solid until now, though there is only long-term data for the Binance service available. So far the Bitmex plan is looking fine as well but comes with more risk. And while they have their own risk management techniques in play, they claim to be open to every single idea by the community in addition to the already achieved 2-300% gains, they locked in a few days, according to their results data, which you should request. This solution is pretty unique right now and we find the concept interesting, especially the performance fees is something we like. Sure, it might be a harsh feeling to give away a share of your profits, but one has to take a look at the whole picture. It is model where both sides can benefit mutually from growth and this is a strong motivation to provide good work. As being said, we did not try the product on our own accounts as we are more conservative, but wanted to share it with you as we have requests for such solutions often – it might be worth a look. Our suggestion is to talk with the team and get yourself an impression, let them show you their past results and if you have a chance speak with the current members as we did. Right now, almost one month after the launch of the Bitmex product, they all seem to be quite satisfied. Beside Bitmex, the Binance auto trading bot can be a quite profitable solution with less risk. One way to get your feet wet would be starting out with the premium plan for Binance and observe how the bot does there, how responsive the support is, what other members have to tell. The generated profits here could be re-invested into the Elite plan if this teases you. As always we would love to hear your opinion! Let us know if you tried it out or if you have any particular questions.
Update: We got some emails with complaints about this service. Some people are concerned about a strong language in the free channel, a missing clear track record of the results, and a removal of members in the free chat room. While we are not paying members of this service, we still requested access to the trollbox of the paid channel and observed only one removal so far, which happened due to an abusing behavior of the particular member. Furthermore, we got a screenshot where a reader asked for a transparent track record and the reply has been rude. Use at your own caution and don't use it if you cannot confirm past results on your end. Again, we did not check the outcoming results of this channel, but wrote about it, as per the automation requests we received.
Update 2: We joined there chatrooms to make sure everything is right, the customers seem to be happy with the service. Apparently, only one member has been kicked for rude behavior. Speaking with their traders about the strong language, they apologized and want to take care in the future, as this has happened after the 16h work session. The track record is difficult to provide for the past, but they started it now and we will share it here once it is online. We also spoke to a few members and they have been doing good so far.