CoinSyncom loves to partner up and provide assistance to innovative projects. Two such partners are PalmaBot and Coinalyze. Each of these crypto-related projects is fantastic in its own niche and, therefore, we are happy to say that they have worked together to bring us a significant breakthrough in cryptocurrency trading.
PalmaBot is, in fact, a Telegram chatbot which helps traders control their assets on more than 30 exchanges. Naturally, the project has a state of the art trade executor that is now completely automated.
On the other hand, many cryptocurrency traders know Coinalyze as a par excellence tool for crypto technical analysis and a place where our experts do their TA. Coinalyze has all the most important technical indicators, great charting, live prices, live candlestick formations tracking, and the alert system.
The latter would be specifically useful if it could execute trades automatically. Therefore, the two teams decided to combine their expertise to bring us such a great feature. Naturally, CoinSyncom got an exclusive opportunity to test the new PalmaBot's Executor on Coinalyze and bring you this review.
The main prerequisite for using the PalmaBot Executor on Coinalyze is to have PalmaBot on Telegram, connected to one or more exchange accounts. Next, a trader should make sure that he has a valid Coinalyze account. Once all the requirements are fulfilled, a trader is ready to use this great feature.
When logged into Coinalyze, a trader has to click on the "Alerts" option in the main menu on top of the website. Once there, the website will present a simple interface where he has to create a new alert.
This action will open a new frame. There, a trader will have to "Enable Trade Automation with PalmaBot Executor". If a trader clicks on the ⓘ symbol, it will reveal a short but comprehensive tutorial of what to do to makes this thing work.
Just like the tutorial says, typing "/xc" command into PalmaBot's chatbot will reveal the string that you need to copy into the big rectangular field at the bottom of the "Create Alert" section on Coinalyze.
The code a trader copied is editable and various trading strategies can be implemented into the executor. Such as the exchange a trader wants to trade on. Furthermore, and what a trader shouldn't forget, is to set up the amount he wants to trade by changing the last part of the string, "amount=". Finally, the only thing left is to hit that "Create" button and let the magic run wild.
Immediately, a trader will receive the confirmation in the Telegram chat just like in the screenshot below.
Firstly, we want to thank these two teams for providing an opportunity to test this great feature so early. Now, let's express our honest opinion which can't be other than pure satisfaction.
These guys did a great job of incorporating a real automatic trade executor into a full-scale technical analysis tool. Now, if you still don't recognize the significance, let's just say that we are getting closer to having everything needed for crypto trading in one place.
Imagine if TradingView had a similar option for more than 30 exchanges. With PalmaBot - Coinalyze partnership we have something similar, just exclusive for cryptocurrencies. This is a big step towards an ultimate crypto trading user-friendliness. And that is exactly what this space needs to attract more investors.
😉
