Its been several months since I started using TokenSet to see if its able to safely trade for me. Here is just my results using tokenset ETH/BTC RSI Ratio Trading Set.
How this set works is that it trades between ETH and wBTC based on criteria set which is
- RSI level is more or equal to 70 to convert to ETH
- RSI level is below 30 it converts to BTC
- min rebalancing intervals of 1 day
Each time the criteria is met, the smart contract would automatically do the trade for you.
This SET performance
Now this is not the highest performance set at the moment however being that its only trading between wBTC & ETH, it has so far gain pretty ok.
Here is a quick chart on how it looks like at the moment.
The last rebalancing was on the 13th March 2020. Meaning to say that it converted from ETH to wBTC at that time. From then on, you can see the green line, that is where the SET’s roi is. Its roughly about almost 10%.
Because its ETH / wBTC pairs, I do not really look at the dollar value as that would be a totally different pairing. This SET is more of a conservative trade where the accumulation of ETH via trading wBTC.
How to start using TOKENSET
Now if you are interested in a conservative way to just park and let the smart contract do all the trade for you. TokenSet is a great DeFi app which you can use.
What you would need is only your MetaMask wallet. Every set has a different price and you do not need to buy 1 whole set to get started. You can even buy 0.1 of a SET.
This would be great for just trying and parking some of your ETH which you don’t intend to use for awhile. Do remember that TOKENSETS is not meant to be a short term investment, its more of a long term conservative approach.
I do suggest you give it a go as you are able to sell the sets at any given time. There is no lock in period and its all automated.
Also do remember that this is crypto trading and there is always risks involved. There is no guarantee if you would be earning however it does help you trade strictly via technical indicators therefore its great for beginners as you do not need to know much about trading but just the basic fundamentals.