TOP TRADING BOTS
Luna Trading Bot Review 2023
Playing on the influx of mostly inexperienced new traders, a number of crypto bots have sprouted up that offer solutions that bypass the usually high-tech requirements of conventional automation tools.
Luna Trading was the product of that trend back in 2018, but has it managed to prove its mettle to this day?
Back when it all started, trading in cryptocurrency was a niche nerdy thing that only IT and/or trading experts were able to do.
Since the enormous boom that the industry has experienced, however, more and more people with no previous experience or required technical abilities have decided to take a shot at crypto day trading.
While this proved to be a big boon to the cryptocurrency popularization movement as a whole, it has posed the community with a new issue–how do they make such complicated issues such as the shifting market tendencies, complex calculations and metrics, and dynamic strategic approach become simple enough to be digestible to newcomers?
This has sparked a wave of crypto bots that proposed different strategies ranging from disguising the technical stuff to doing every setup and analysis instead of the user.
Some have even evolved to become marketplaces of ideas and strategies that host bots made by other people.
There are problems with this approach, however. These simple strategies are much more approachable and easier to use, but most of the time they can’t compare with the conventional approaches in terms of efficiency.
Cookie-cutter solutions usually have to sacrifice updating, fine-tuning, and mechanisms that can be changed on the go as the situation requires it.
This mainly gets reflected in the speed of reaction and the ability to spot a potential trade first. And in cryptocurrency exchanges, it is all about getting to the lucrative deal first.
Luna Trading bot represents a proponent of the simple approach to crypto trading, and back in 2018, it was an access point to a respectable number of new users.
The question is, has it aged well? Did it prove to be an effective tool of the trade that made users profits or did it fail to establish any sort of significant impact in the field?
Join us in finding that out in this review.
What’s Luna Trading Bot?
Luna Trading is a software automation tool designed to let users with little knowledge of programming and market analysis and free time at their disposal still perform on the crypto trade market.
What would usually take hours per day is meant to be reduced to a couple of minutes, and the complex bot setup process would be replaced with simply picking the strategy out from those already built and available.
Bots made with Luna Trading would scour the supported exchanges for trade deals that fit the declared parameters and commit them without requiring users to be physically present at the device or even aware of that.
In other words, in theory you can launch the bot, move on with your life, and return only to reap the benefits of the bot’s hard labor.
To make its bots have any chance at making a profit, Luna Trading claims to perform detailed analyses of the market with dedicated software and skilled experts.
Furthermore, it also fosters communication between traders, allowing users to hear a tip or two from those with more knowledge or even subscribe to their own strategies for a fee.
That’s the idea and story behind Luna Trading, at least. Are these goals, aims, and means good enough to make it a good enough crypto trading bot?
Let’s dive into the details one step at a time.
The main (and in a way the only) feature of Luna Trading is its bot builder.
Designed to completely replace codes, scripts, and other traces of programming, it employs a peculiar way of coding by having the users pick a strategy based on a vague description.
A number of technical indicators do exist on the platform, but opting to customize your own strategy comes with severe limitations.
Sets of basic strategies such as trailing stop and double up can be selected among the basic features that are the minimum standard for these types of software, but not much beyond that.
While this certainly can work for utmost beginners, anyone above that will generally find this offer to be too humble for their needs.
As for the other “feature”, Luna Trading bot boasts that it relies on an analysis of more than 10,000 pairs over the crypto market. The process is done automatically and it serves to detect the coin with the greatest potential.
And that’s about it. Luna Trading really does reflect simplicity in crypto trade to its core.
Ease of Use
As previously mentioned, Luna Trading sacrifices much of the potential performance of its software to get maximum ease of use and access.
In the end, it is clear that the scale from accessibility to overcomplexity tips heavily in the favor of the former.
Starting with the UI, it is practically devoid of every superfluous feature and conceived with easy navigation in mind.
The bot builder is also simplified to a large extent, going as far as to provide strategies with only one descriptive word tied to it, like “cautious” and “aggressive”.
While a crypto trading initiate might think that this is precise enough to define a strategy, this poses more questions than it provides answers to someone interested in the actual mechanisms of the approach.
Coupled with these descriptive pieces are visual cues which similarly don’t reveal much. One of the more beneficial aspects is Luna Trading’s commitment to fostering communication between the users and the community.
Sharing strategies is encouraged and it is not uncommon to see users collaborate on a strategy together.
With limited customizability, though, not much can be done to change the available codes, sadly.
Finally, as we said, Luna Trading is very easy to use, but in turn does not offer too much in terms of sustenance.
Perhaps surprisingly, Luna Trading has managed to secure a bunch of crypto exchanges for integration and support.
Diversity of exchanges translates to diversity of opportunities on the market for a good bargain, and that is key to every prospective trader out there.
Luna Trading supports Binance, Bitfinex, Bittrex, Kraken, and Poloniex. Considering how relatively small Luna Trading is, this is a nice feat to achieve, we’ll give it that.
When it comes to pricing, Luna Trading offers 3 plans that you can pick out from. The first one is called “Hobby Investor” and will cost new traders $19 per month.
Besides all standard features, unlimited exchanges, available trading signals, portfolio, extended order types, and demo trading, it has a limit of $25,000 per month for trading and is limited to 2 active trading bots.
The second plan, “Active Investor”, comes for $49 per month, and includes the standard features from the previous plan, with an increase to the trading limit to $100,000 and to the number of active trading bots to 5.
The ultimate plan, “Super Investor”, takes $99 per month but provides everything from the previous packages and in addition, removes the limit on monthly trade volume and the number of employed trading bots.
It is worth noting that Luna Trading offers a 14-day trial which allows you to sample the services before you actually have to invest your money.
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Reputation & Community
As for Luna Trading’s reputation and community, for some reason, things are not going that well. There are few bad rumors or reviews, but it immediately catches the eye how few reviews there are online.
The community is virtually non-existent. The official Telegram group has only 12 members. The number of Twitter followers is *zero*.
Their Facebook page has slightly over 500 likes, and their YouTube channel has two videos with less than 30 views at the moment of writing.
One possible reason for this is the app’s location, which is Singapore. The only article on the site’s News section is written in Malay.
Perhaps it was meant as a local experiment that failed in the end?
Customer Support & Security
Customer support for Luna Trading is mainly available via online chat and the site says it is available 24/7. Its activity can be questioned now since there are few actual users to confirm it.
When it comes to security, Luna Trading is web-based and accessed through an online app, which leaves the issue of security with the company.
It uses API keys for backend access to your funds, but beyond this little is known about the actual measures taken.
TOP TRADING BOTS
To conclude, Luna Trading is seemingly at the end of its career.
Even if the offer were lucrative enough, it is unlikely that a new flock of users would come since it barely has any following and user base left.
It cannot be recommended to anyone. But that doesn’t mean that there are no accessible and powerful crypto trading bots out there!
Take Bitsgap and Quadency as examples: both well-performing, comprehensive, and top-rated crypto automation services with a solution for everyone!
Give them a try and leave bots past their days, well, in the past.