Today I am going to start testing a new crypto trading bot platform called Quadency with real-money balance. The idea of this experiment is to show you how the overall setup process works, how easy it is to launch a bot and we can also check the profitability the bot can bring on the distance.
I have already done similar testings for two other platforms: Bitsgap and Tradesanta, so this will be the third service I am putting my hands on. I do not have any serious trading background and hope that Quadency will allow me to launch the bot with no hassle and won’t ask me to deep into settings that I don’t understand.
First of all, I need to get a PRO account to launch multiple bots and unlock higher trading volume limits. Surprisingly, Quadency allows to receive a 3-months free PRO plan by simply connecting an existing Binance account, so let’s try to go this route.
As any other bot service, they are asking for the API access, so I have provided my keys with the restriction to withdraw any funds from the balance. The only thing this bot will be able to do is to place and execute orders.
My Binance account is pre-loaded with 0.1 BTC deposit with some additional BNB tokens to reduce the trading fees. Quadency promises to activate the PRO plan within 2 hours after the API integration, but actually, it was done even more quickly. Now my PRO plan for Binance is activated with no volume limits and up to 10 bots on the arsenal.
Everything is ready for the launch of my first Quadency bot. There are multiple strategies to choose from and if I will find this service good enough, I could test out all the bot strategies available. But let’s start with something simple and familiar – grid bot. This type of strategy worked well for Bitsgap where I still get some profit with my top pairs and near to zero maintenance involved.
The settings here are pretty much the same as Bitsgap has, but one interesting and probably useful feature is added. It is connected to the action that bot needs to perform once the price leaves the trading limits. At Bitsgap there is only one option: the bot will not do anything and wait for the price to come back. Quadency allows you to use 3 additional scenarios: recreate the grid, cancel all orders, and close all positions.
To make the experiment fair, I will pick up the last option: so we will not do anything if the bot leaves the grid.
For the first bot to launch I am going to use my favorite trading pair: POWR/BTC. Here is how my final settings look like:
- Number of grids: 20 (this is the maximum allowed)
- Amount per order: 170 POWR (I was using the same amount with my Bitsgap bot)
- Distance between grids: 1%
Once the bot was launched, it immediately stopped with an error in the log: Not enough base balance.
It means that bot does not buy any coins that might be needed for the launch. As I only have BTC and BNB on my Binance account, I need to buy 1700 POWR myself to launch this bot.
Well, I am not that lazy to do this manually, but it would be much better for the service to check the balances before I launch the bot to show me that anything is missing. Alright, let’s go and buy some POWR and try again.
Once POWR coins were added to the portfolio I was able to launch this bot and the grid with BUY and SELL orders was successfully built.
To summarize the experience of launching my first Quadency bot
Pros:
- Free PRO plan with existing Binance account
- Nice selection of automated trading strategies
- Intuitive interface and navigation
- Multiple actions for ‘out of the grid’ scenario
Cons:
- The bot is not checking the balances on start and does not propose to buy the lacking coin
- Distance between grids setting available from 0% to 100%, but it makes no sense to put more than 2-3% spacing, so this will be confusing for the newbie traders.
- There might be a need to build more than 20 grids, which is a maximum allowed here.
I already have some experience to share regarding the performance and issues connected to this Quadency bot, but let’s give it one week to work before making any judgment. I will prepare a detailed report with all the screenshots and thoughts, so see you next week.