Cryptocurrency trading can be a complicated ordeal. Unlike most traditional markets, crypto markets never sleep. As such, traders spending sleepless nights looking at charts and chasing calls are a regular occurrence all over crypto social media. However, humans do require a good nights rest from time to time and any crypto trader will share stories of that one trade opportunity he missed due to being asleep. In crypto, a profit window can materialize and play out in a matter of minutes (even seconds); many will admit they’ve missed out on serious gains due to simply being too slow to notice/manually take advantage of said window. Finally, even the best traders sometimes struggle to avoid having the stress of a trader’s life affect their decisions, both in trading and in their normal life.
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Experienced wolves of Crypto Street, while clearly having issues with trading, still have it better off than the average “noob” investor. New entrants to the space have a plethora of things to deal with: just consider the volume of knowledge they need to accumulate before becoming skilled enough to make profitable trades. This beginner trader can get the knowledge by either “putting his skin in the game” (aka starting to trade with his own money) or by looking at more experienced traders and emulating them. Both of these come with their own can of worms; no one wants to lose money in a bad trade and experienced traders rarely give full insights into their trading secrets (after all, they are on the market to beat it, not to teach it how to beat them).
Introducing: trading bots
A possible solution for problems of any crypto trader could be a trading bot. Trading bots are computer programs which, as any computer program out there, rely on code and algorithms to operate. These programs are special in the sense that they connect to a cryptocurrency exchange through a user account and perform trades for the user. A trading bot usually utilizes basic and popular trading indicators and signals (like moving averages or indices) to trade.
The main reason to use a trading bot is the fact that it lacks the limitations of the average human. The bot doesn’t need to sleep, eat, go outside, meaning that it can stay focused on trading 24/7. At the same time, a bot can make a trade instantaneously, much faster than the average human. It won’t get emotional, stressed out, and jump out of a trade on a whim. Therefore bots are suitable for those who want to keep an eye on the market full time but are unable to do so, due to their human nature.
Bots are also useful to those who are new to the crypto trading space. As most bots are based on simpler trading indicators, they are suitable for beginner traders looking to learn how to trade. A new crypto enthusiast can observe the bot’s actions and learn from them. Finally, a trader can decide to fully rely on the trading bot and simply set it up and let it do all the trading for him, if he so desires.
Some sources suggest that trading bots generally don’t outperform the market. The data is inconsistent for various reasons: many bot creators avoid to officially praise/market the features and success rates of their product, due to legal reasons. At the same time, crypto traders using the bots lack the analytical skills/motivation to report their experiences with these bots.
And while overall experiences are inconsistent at best, above-mentioned positive features of trading bots stand. Today’s article will analyze Haasbot, one of many such products available online, and determine if this trading bot can help the average investor make bank.
HaasOnline Software, the company behind the Haasbot, was founded in January 2014 by Stephan de Haas. The company name has been in use since the 90’s and its flagship product is the HaasOnline Trade Server (HTS for short). HTS is a fully featured cryptocurrency trading platform designed to automate trading and Haasbot (currently in its 3.0 version) is its flagship feature. Each new update to this platform includes features which were added as a result of the HaasOnline team taking direct input from its community. They even made sure the community has as few problems as possible with setting up their software by releasing this massive HaasOnline Software wiki. The wiki contains extensive tutorials, definitions and guidelines that will be very helpful if you wish to master this software.
Stephan de Haas: The Chief Executive officer of the HaasOnline Software. Has a background in software engineering which gave him the required experience and knowledge to develop the bot. Stephan was an avid backer of Bitcoin almost since it first appeared in 2009; he realized the crypto market requires better trading tools and decided to help by developing the HaasOnline Trade Server.
Quintus de Haas: Quintus is the Chief Technical Officer of the HaasOnline Software. He supports the infrastructure that keeps HaasOnline headed in the right direction.
Josh Becker: Josh is the project’s Chief of System Operations. University of Cincinnati computer science graduate, Becker has a background in marketing as well as software engineering.
Rustim Rhoda: Rustim leads the research and development team that creates the tools found in the HaasOnline Trade Server.
Raynaldo Rivera: Raynaldo is the Chief Communications Officer of HaasOnline Software. He comes to this company with a background in InfoSec where he managed teams of security experts for fortune 500 companies.
HaasOnline Trade Server software was created in 2014. Its Haasbot trade bot feature has since been updated twice. Haasbot is currently undertaking another revision and a 4.0 upgrade is expected to be released in 2019. Some reviews suggest that the product does have some flaws (lacking access to some exchanges touted the most) but the devs were quick to respond and promise fixes and further integrations.
The software is designed to operate on the Windows OS, but also comes with support for MacOS and Linux. Haasbot is no joke as it will require you to have at least 4 cores (1,2 GHz and up) in your system to be able to function. 2 GB of memory and a stable internet connection with at least 5mbit download are a necessity as well.
Overall, there are 4 types of components that HaasOnline Trade Software can contain:
- Technical indicators
Haasbot bots initiate trades based on trade signals. These signals are given by the safeties and technical indicators, and insurances.
You’ll be able to pick up to fifteen different bots, depending on your pricing tier. How you want to trade will govern which bot you choose. Haasbot 3.0 is the basic, most often used bot but users can also purchase several custom made bots and integrate them in the basic software. Some examples are:
- Trade Bot (aka Haasbot 3.0) – executes trades based on indicators, insurances, and safeties. It is the basic, most commonly used bot that HTS currently offers. It’s very flexible and allows the user to configure very simple or extremely complex trading strategies.
- Index Bot – a trading bot that works with a portfolio of cryptocurrencies, balanced according to your desires. The bot will rebalance your assets when one of the currencies has risen or dropped in value and breached the threshold. The bot comes in Crypto and Advanced index form.
- The Accumulation bot – can be used to increase or decrease your position in a market. It will execute market orders with randomized order sizes and time delays (between orders). This lets the bot mask your position and perform your trade with controlled spillage.
- Flash Crash Bot – one of Haasonline’s most popular and proven bots. It’s based on grid strategies adjusted for cryptocurrency markets. The Flash Crash bot sets pre-orders above and/or below a specified base price. Buy orders are placed at predefined price points that fall below the set base price. Conversely, sell orders are placed above this base price. When a buy order has been completed, the base price will be moved down and a sell order will be placed on the old base price.
- Email Bot – Email Bot can be used to integrate with TradingView’s email alerts. It will fetch emails and compare them with predefined messages. If there is a match it will execute a defined action.
- InterExchange Arbitrage Bot – lets you perform arbitrage trading on different exchanges
- Order Bot – allows you to set pre-defined orders and trigger a trade when the price is lower or higher than the value you specify.
- Intellibot Alice – specializes in expensive cryptocurrencies with a higher market price such as BTC, ETH or DASH.
There are several more crypto trading bots on offer by HaasOnline; you can review all of them in this very detailed wiki page and development api that was set up by the project to help anyone looking to learn more about the software.
HaasOnline bots operate thanks to technical indicators, which produce trade signals based on user instructions. Each indicator is supposed to give trader information regarding where the price is going to move next and the bot lets you decide if certain indicator is a sign to buy, sell or both. Indicators trade based on a specific time frame which is determined by the user himself. The time frames range from 1 minute (for high frequency trading) to 3 days.
HaasOnline software offers a plethora of indicators, including Bollinger Bands, Candlestick Patterns, Commodity Channel Index, Dynamic Buy/Sell Indicators, Elliot Waves, Exponential Moving Average (EMA) Swing, Simple Moving Average (SMA), Fibonacci, Fast/Slow RSI, Fractals, Ichimoku Clouds, MACD, Stochastic Oscillator and others. Project’s official Wiki lists 47 total indicators on offer, so there’s plenty to base your trades on with HTS and Haasbot.
Insurances set specific rules which ensure that the bot will minimize your losses and maximize your profits. Thanks to insurances, Haasbot decides whether or not a trade signal generated from one or more user configured indicators should be executed or not. There are a total of 12 insurances and some of them include:
- Absolute Price Change and Percentage Price Change – evaluates a trade signal to ensure the price of a coin has changed by X amount before allowing an order. The insurance sends a trade signal to the bot to buy or sell if a particular coin increases or decreases in absolute price, or by percentage.
- Trade Only Sideways – this is a new trend identification insurance that allows a user to only permit trades (for a trade bot) during a sideways market.
- Overcome Fees – most widely used insurance for the trade bot. It ensures that the value of a trade itself will not be wiped out by transaction fees.
- Never Buy Higher – prevents buy orders at a higher price than the last selling price.
- Never Sell Cheaper –works by evaluating a trade signal to ensure that it does not sell at a lower price than the last price a coin was bought.
- Be Profitable– will evaluate a user-defined number of trades for profitability. If these trades resulted in an overall loss the bot will be deactivated.
The remaining insurances (and more detailed descriptions of the insurances listed here) can be found on the Haasbot wiki.
Safeties are another measure that can help protect your investment. They are designed to prevent you from suffering losses from significant drops in the market in situations where insurance may only prevent a buy transaction. There are currently 22 safeties supported by the software, including:
- Close Above Profit – Close Above Profit safety will close any open position that crosses the user-defined profit threshold.
- Close Before Settlement – thissafety ensures that an open position is closed before settlement occurs.
- HaasScript Safety – a built-in feature of the HTS platform which lets users create custom safeties (as well as indicators and insurances).
- Price Dump – this safety follows the price during a down trend and buys when the reversal occurs.
- Stay Long – a safety unique to HTS. This safety forces the trade bot to stay in the bought position, regardless of the signals generated by your indicators.
Check out the complete list of safeties here.
As noted before, this software operates on exchanges. Haasbot supports the following platforms:
Ionomy, Coinbase Pro, KuCoin, Deribit, Huobi.pro, Poloniex, Kraken, Bittrex, Bitfinex, Gemini, BitMEX, C-CEX, CEX.IO, Bitstamp, Binance, OKEX, Nova Exchange, HitBTC, OKCoin, OKEX Futures.
The core software comes with several important core features, including:
Dashboards, Detailed Portfolio, Marketview, Market Compare, Indicator Scanner, Bot Performance Analyzer, Backtesting, High Frequency Trading, Multi-Accounts, Proxy Abilities, 3rd Party Notifications, 2FA Security, Developer API Access, Advanced Orders – Stop, Advanced Orders – Take Profit, Advanced Orders – Trailing Stop, Bot Extensions
Is it free though?
Considering the whole host of features we listed above, it’s not surprising that this platform isn’t exactly free. HaasOnline pricing page offers you several packages you can purchase.
You can initially select the length of your package, with 3, 6 and 12 months on offer. 12 month packages give you the best value for your buck.
Regarding the packages themselves, you get to select between a beginner, simple and an advanced package. A 12 month-long beginner package will set you back 0.12 BTC, simple package of that same length costs 0.2 BTC, while the most advanced package clocks in at cool 0.32 BTC for 12 months. The differences between packages include the variety of bots, insurances, safeties, indicators, and the priority of support (advanced package gets all the best features obviously). All packages come with full core features list (except trailing stops and bot extensions, which are only available for advanced users) and support for all exchanges.
Haasbot vs Gunbot
The biggest difference is in price, other than that, these two are fairly similar.
Is HaasOnline Software legitimate? Every sign points towards yes. While there is a lot to be said about the questionable viability of using commercial trading software (once it spreads enough, you’ll have multiple instances of the same algorithm trading against themselves), there is little negative that can be said about the bot itself. The platform has a solid track record in the industry and offers a well-maintained, beefy product that should satisfy even the most demanding of users. As any tool, this bot is a good servant but not that good of a master; make sure you know what you are doing before deciding to purchase it and start trading with it.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com