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Auto trading solutions differ vastly from one another. Due to our widespread posts about Telegram Crypto Signals. We are often approached to join this channel or to write about that provider, and we mostly 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 we want to write about this solution. As we knew from our readers’ emails, there is quite a demand for that. While we avoid any settlement. When a bot executes trades without a pair of human eyes, the SwT is an API Auto Trading Bot.
This mainly means that their traders perform the technical analysis. Hence, the bot executes the trades on the client accounts via API.
Please know that allowing someone else to send trades to your account carries a risk. You must be willing to take it. Let’s have a look.
SwT is a trading group that has been around on Telegram for quite some time. Their way to generate profits is swing trading. This means they are offering signals based on fast price movements and closing 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. 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. As 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 began searching for a solution to execute their trades via the API and send the signals directly to the customer’s Binance account. This way, people with busy lives can also participate in their short-term trades.
Table of Contents (click to expand)
The Crypto Auto Trading Solution by SwT
There are several plans SwT offers to subscribe to, and depending on the 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 must deactivate the withdrawal option for security reasons when generating the key. The SwT bot does not execute trades if the API key does not allow withdrawals.
Let’s tackle each of their options:
Crypto Swing Trading Telegram Channel
The swT crypto swing trading channel has now been in existence for four months. You can look back on a pretty good win rate and growing. Satisfied customer base (from the sentiment in their chat rooms).
The trading team at SwT monitors coin movements on Binance 24/7 and executes many short-term/small-gainer trades. Which accumulates a cute profit percentage over the day. Their service covers Binance only. Also, if they find some hidden long-term gems with good potential. They let their members know about it.
Binance Auto Trading
As SwT issues often have 30-40 of these short-term trades, it can be hard to follow them. You need a lot of screen time to participate in most of the trades. Hence, 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. Also, this is common. The overall results shall be positive, so it is important to take most of the trades. Using an API Auto Trading Bot seems to be the next logical step.
It trades the swing signals while the user is sleeping or on a whale-watching tour in Iceland. The channel claims 95% growth on their Binance account since the bot came into use in mid-February. The bot offers an interface for customers to enter the total amount they want to trade and the risk they are willing to take.
They can also set a specific amount per trade. If you try it with a conservative 1% number, you can calculate your way up to 5% or 10% and decide later, depending on your risk appetite.
However, it is essential to get a feel for how things work and to gain confidence that everything is working as expected at a technical level. As a special feature, SwT offers to move your funds into BTC or USDT if it anticipates large price movements. Quite unique is their full refund guarantee.
Bitmex Auto Trading Solutions
This one is for risk lovers, as you can also hook up your Bitmex account with their API Auto Trading Bot. For leveraged Bitmex trades, SwT supports & 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, its start has been pretty nice, showing a 400% gain on the master account.
On Bitmex, you don’t have the option to specify an amount for a particular trade. They follow strict risk management rules and set the trade size based on your account size as a percentage. Trading leveraged contracts on Bitmex is risky, keep in mind.
SwT does not use a stop-loss. But subscribers can set the desired risk level on their end. They state that it does not match their trading style, as it would reduce gains given the high volatility crypto generally offers.
Instead of stop-loss, they use an average-out technique. However, customers can set a stop-loss on their own. Also, here we have a nice offer in case something goes 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 repay those fees.
The Auto Trading Tech Behind
For research reasons, we contacted the dev behind the bot and had a quick talk with him. The bots have to work correctly, so nothing gets messed up. The developer seems to know what he is doing and uses a Telegram hook to post the signals to a particular channel.
We did not see the bot working live, but we asked some of their customers privately about their experiences, and they have seen no major issues so far. There have been some failed orders, but the team has resolved them very quickly. According to users, they did not experience Bitmex’s “System overload” problem, as trades are placed before the action starts.
If an order doesn’t get placed, the bot is coded to keep trying at the required price. SwT instructs executing extra trades manually if a customer encounters this issue.
The Pricing
These 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)
A performance-based fee is pretty unusual in the crypto signal scene and is actually a good sign that SwT is confident in its returns. They tell their subscribers to calculate the fees due themselves and send them accordingly. Though this is not as trust-based as it might appear, as SwT can check the balances through the API.
Conclusion
We are against fully automated bot trading, as we have never seen a working bot that can remain profitable consistently. We have to differentiate it from this solution. As it is an API Auto Trading Bot that trades signals by traders. Actually, it is only used to send trades directly to customer accounts via the API.
The results look pretty solid so far, though only long-term data for the Binance service is available. So far, the Bitmex plan looks fine as well, but it carries 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, which are something we like. Sure, it might be a hard feeling to give away a share of your profits, but one has to look at the whole picture. It is a model in which both sides can benefit from growth, and this is a strong motivation to deliver good work. As mentioned, we did not try the product on our own accounts, as we are more conservative, but we wanted to share it with you, as we often receive requests for such solutions.
It might be worth a look. Our suggestion is to talk with the team to get a sense of their past results, let them show you their 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. Besides Bitmex, the Binance auto-trading bot can be quite a profitable solution with lower risk.
One way to get your feet wet is to start with Binance’s premium plan and observe how the bot performs, how responsive the support is, and what other members have to say. The profits generated here could be reinvested into the Elite plan if this piques your interest. 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 the strong language in the free channel, the lack of a clear track record of the results, and the removal of members from the free chat room. While we are not paying members of this service, we still requested access to the paid channel’s trollbox and have observed only one removal so far, which occurred due to the abusive behavior of a particular member.
Furthermore, we received a screenshot in which a reader asked for a transparent track record, and the reply was 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 outgoing results for this channel, but wrote about it as per the automation requests we received.
Update 2: We joined their chatrooms to make sure everything was right, and the customers seemed happy with the service. Apparently, only one member has been kicked out for rude behavior. After speaking with their traders about the strong language, they apologized and said they will take care in the future, as this has happened after the 16h work sessions. The track record is difficult to provide for the past, but they have 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 well so far.
