Trality Review 2021: Automated Bot for Pro Traders?

Cryptocurrency has been touted as a great investment, and the best crypto bots are viewed as a great way into the world of crypto trading. Trading bots eliminate human error and emotion from crypto trading while operating on a rule-based system.

Since they have no fatigue and aversion to repetitive tasks unlike humans, they can continue to churn money even when you are fast asleep or away from your system. Now, if you are wondering how you can be part of this, you need to identify a trading bot. One popular bot used to automate crypto trades is Trality. Let us take a closer look at Trality and figure out its features, pricing, pros, and cons.

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What is Trality?

Trality is an Austrian company that was established in 2019. The founders Moritz Ptzhammer and Christopher Helf wanted to build a tool that could reduce professional and individual trading disparity. This resulted in the quest to make algorithmic trading and smarter bots available to all. Trality lets users customize and tune the bots to a very high level of accuracy and precision. The ease of access and capable features make it an advanced platform preferred by many.

Trality Review: Features Offered

Trality has a number of features that customers can use in order to perfect their algo-trading setup. Some of the main features are:

Complete Cloud-Based System

Trality offers customers a true cloud-based system. This means that you get to build your trading bots, test them, and finetune their actions all through your web browser. Once you do, you can trade by deploying them onto the cloud. This takes away the need for complicated hardware and software requirements, making a simple cloud-based system that is easy to trade.

Holistic Rule Building

Trality is a great choice even if you do not have any prior coding experience. If you don’t want to go through the hassle of programming your bot, you can easily build a bot with all the features you want by using the Rule Builder. This is an interactive, graphic-based interface that is quite easy to use. It allows you to build on your strategies via simple drag and drop of both strategy points and indicators. You get to set limits, specify your triggers and stop losses and targets without having to figure out how to code it yourself.

Python Based Code Editor

An incredibly powerful Python API lets you make algorithms that are efficient and precise. This allows you to create unique bots that execute your personal strategies. This uses APIs that let you access financial data and TA indicators. The future of Trality holds the promise of intricate mathematical formulae, statistics, and machine learning, along with multiple data sources for cross-reference.

All this is completely hosted on cloud and happens on your browser, which adds privacy to the list of advantages. In addition, the Python editor offers intelligent auto-complete and debugging, along with the ability to shift between versions of the strategy you have developed. 

Backtesting

For a successful trader, a strategy is always backtested before it is adopted. Reality allows you to check out the validity and success rate of the strategy you have built by backtesting. You can run quick and straightforward backtests, which include the exchange fees.

The in-browser implementation makes it quick, and historical data is available down to every minute candle. The tool in itself is very flexible. It lets you choose the scenarios, time frames, and so on. You also have access to backtesting history and paper trading tools to sharpen your edge.

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Trality Pros and Cons

Here are the pros and cons of Trality to keep in mind:

Advantages

  • In-browser implementation
  • Easy-to-use system for even those who do not want to code
  • Backtesting and paper trading
  • End to end encryption
  • Great documentation
  • Complete cloud-based system
  • Both code builder and rule builder are available

Disadvantages

  • Lack of a trading app
  • Support is limited to four exchanges
  • No future and short trades

While Trality has plans for expansion, the present list of supported crypto exchanges are as follows:

  • Binance
  • Bitpanda
  • Coinbase Pro
  • Kraken

Your Security and Privacy

Security and privacy are major factors to consider while choosing a trading bot. Trality takes care of this with complete end-to-end encryption algorithms. User funds lie secure in the exchange of your choice, never in your account. The trading strategies themselves are encrypted in such a way that even Trality cannot access them. This gives you a completely secure system free from prying eyes. You only need to set your strategies, and the bot will earn money for you 24/7 based on your rules. Your information and money are both secure with Trality.

Trality Pricing

Trality aims to bring algo-trading to everyone. That is why they have a range of pricing plans suitable for everyone. In fact, they even have a free starting plan to test and trade as often as you like and check out the system before opting for a paid plan.

  • Pawn (Free)
    • Trading volume of €5,000
    • 60m tick interval
    • 1 live and 1 virtual bot
    • Unlimited backtests
    • 1 week of logs retained
  • Knight (€9.99)
    • Trading volume of €25,000
    • 60m tick interval
    • 2 live and 2 virtual bots
    • Unlimited backtests
    • 1 month of logs retained
  • Rook (€39.99)
    • Trading volume of €250,000
    • 5m tick interval
    • 5 live and 5 virtual bots
    • Unlimited backtests
    • 6 months of logs retained
  • Queen (€59.99)
    • Unlimited trading volume
    • 1m tick interval
    • 10 live and 10 virtual bot
    • Unlimited backtests
    • Unlimited logs retained

Signing Up

Signing up on Trality is fairly straightforward. All you need to do is

  • Sign up by clicking on the “Sign up” option here.
  • The dashboard shows you a “Create new bot” option
  • Choose between code editor or rule builder
  • Follow the documentation and build your bot

Conclusion

In conclusion, Trality seems to be a promising algo-trading platform that has a lot of promise. With the affordable pricing, great customer support, and plethora of features, it is definitely a good pick.

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