Streak Crypto Review – Pricing, Supported Exchanges, Returns
STREAK CRYPTO OVERVIEW
A crypto trading bot is a set of programs that takes the stress off traders and implements trades based on a predetermined set of rules. It has been on the scene for quite a while now, with the first crypto bot possibly developed by Joseph Lee in 2013. Ever since then, more bots have been deployed on the crypto scene. They once were the domain of expert computer programmers because of their complexity. However, that is no longer the case.
This article will discuss one crypto trading platform that simplifies the process for all and sundry. It is simply called ‘Streak’ and has put smiles on the faces of investors by putting their crypto portfolio on a winning streak, literally. What should you know about it? Follow along as I put you through.
WHAT IS STREAK?
Streak is a trading bot platform founded in 2017 that aims to help its users make better trading decisions in the stock and crypto markets. You can create trading algorithms on the platform and backtest them without any coding knowledge whatsoever.
With over $600 million global trading turnover and more than 22 million backtests done since inception, Streak continues to expand as it seeks to be the go-to champion of trading automation.
STREAK MAIN FEATURES
- 👉 ALGOS: These are the trading programs on Streak. There are numerous backtested algorithms from which to choose. You can also create a new one
- 👉 METRICS: These provide information of varying degrees on the markets. They include Technicals (which tell the trend direction of an asset in real-time), Indicators (over 57 of them), and charts.
- 👉 BASKETS: This feature allows you to create a combo basket for your strategy consisting of stocks, crypto, currencies, etc.
AUTOMATED TRADING AT STREAK: HOW EXACTLY DOES IT WORK?
Algos are the powerhouses of automated trading at Streak. With the ‘Discover’ tab on the website’s front page, you will find a plethora of backtested algorithms ready to deploy. They are there for you; you can tweak them as you like or create new ones altogether. Once you have decided on the algorithm to use, just deploy it on your exchange account and watch as your bot brings you profits.
TRADING STRATEGIES OFFERED BY STREAK
Streak creates strategies using single or multiple indicators from its suite of indicators. There are about 57 indicators to choose from, ranging from common ones like Bollinger bands and moving averages to rarer ones like On-balance volume, Choppiness index, etc.
To build a strategy on an indicator is pretty easy. You just need to input the exact instruction pertaining to the indicator in your algorithm. For example, if you want to program a strategy to buy a coin when the RSI is oversold, just input the code: BUY WHEN RSI HIGHER THAN 20. That’s all.
HOW TO SET UP AN ACCOUNT WITH STREAK
To start an account with them, click the ‘Get started’ button at the top of the website. It brings up a page where you’re asked to enter your new email. You’ll then be asked to enter your password and verify your email. After email verification, your account is up and ready to go!
STREAK SUPPORTED EXCHANGES AND COINS
Streak offers its services on both crypto and stock exchanges. When this article was written, it supported three US equities markets, namely Nasdaq, NYSE, and Alpaca. The crypto exchanges supported are Binance, Coinbase, Huobi, Coinbase Pro, Hitbtc, Okex, Deribit, Kraken, and Bitmex. The platform includes detailed instructions on adding your Streak account to your Exchange account using API keys.
Manual trading is free on Streak. It is more stressful, of course, but you can still access Streak’s suite of indicators, asset classes, watchlists, among others. However, to partake in algorithmic trading, you should choose one of the following three plans:
- The basic plan for $20 monthly. It provides 200 backtests per day with 25 deployments at a time.
- The premium plan for $30 monthly. You get 500 backtests per day and 50 deployments at a time.
- The most expensive one is the ultimate plan which costs $40 monthly and gives users access to 1000 backtests per day and 100 deployments at once.
There are provisions for paying quarterly, bi-yearly, and yearly, each with its own corresponding discount. Also, regardless of the plan you choose, you get a seven-day free trial period where you can create 50 backtests per day and deploy 5 algorithms at a time.
The website consists of many well-detailed articles that help users through various aspects of the platform. Apart from that, there is a live chat function on the website as well as a support email, a blog, and some social media accounts on Youtube, Facebook, Instagram, and Twitter. These features make it easy for users to get the necessary help.
THE BOTTOM LINE
With Streak, the trading process has become much easier. You can either deploy any of the already created algorithms or create your own from scratch. The payment plans are also quite affordable and include a free plan that isn’t so scanty. It doesn’t mean that profit is guaranteed, though. But it gives you a better chance of beating the markets.
DOES STREAK SUPPORT COPY-TRADING?
No, Streak does currently support copy-trading. However, you can use the strategies already backtested and deployed by others. These strategies are found on the ‘Discover’ tab of the website page. You can also share your strategy for use by others.
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- It helps users with automated trading on all financial instruments, including crypto, stocks, currencies, etc.
- The process of signing up and deploying algorithms is made as simple as possible.
- It has a responsive customer support function.
- It allows backtesting of created strategies.
- One can still make do with manual trading on the free plan.
- It has an intuitive mobile app that runs on Android and iOS systems.
- There are other platforms with more indicators and technical analysis tools
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