CAT Cryptsy Automatic Trader Review

For cautious and skeptic people, auto trading – whether it’s in regards to binary options, forex or crypto currencies – is usually indicative of a scam. Indeed profitable automated trading has become something of an oxymoron over time, as the concept itself has been dragged through the mud by countless swindlers over various online money-making verticals. At first glance, CAT (Cryptsy Automatic Trader) – defined by its own creator as an “automatic trader, written in Java code” using various APIs to trade at various crypto currency exchanges – may indeed seem to fit that bill. It isn’t a typical auto trading scam though in several ways, and we’re going to take a closer look at exactly why it’s different from your run-of-the mill swindle, in light of how it is marketed and how it’s supposed to accomplish its profit-yielding activities.

Cryptocurrency Automatic Trader (CAT)

Now then, to set the record straight: CAT may not end up generating any profits at all, and that is more or less acknowledged by its creator as well as by the crypto currency community members who have taken to using it. What the creator of CAT says is that completed Ping Pong orders are guaranteed to yield mathematical profits, but overall profits will take some good decisions to come about. Indeed, there are people who have lost money through CAT, and scores more who aren’t exactly happy about the productivity of the auto trader. The main virtue of the software – as extolled by its creator – is that it allows bitcoin traders to trade 24 hours through 100s of different markets, a feat impossible to achieve otherwise. Also, no outlandish claims of fabulous profits are made to entice the public to buy the auto trader. In fact, it doesn’t seem aimed at the general public at all.

It is currently only pushed through, in forum posts, which all have hundreds of replies. Feedback is provided too, both hot and cold. On the whole, it is safe to say that none of the aggressive marketing tactics usually associated with scam auto traders are used by the creator and only crypto currency community members are currently targeted as potential users. That is obviously inherently fair. The general terms of payment accepted by the creator of CAT are rather fair as well.

Who exactly is this creator though? Not a whole lot is known about him, other than the fact that he allegedly resides in Italy (he uses broken English in his posts, so that does sort of check out from a logical perspective), and that his account was created in 2013. He’s also quite active in the forum, posting on a daily basis.

Unlike most scam traders, CAT offers a rather thorough insight into how it’s supposed to do its trading and what sorts of algorithms it uses. Again, this has to be considered a mark in the “+” column for the operation. Besides offering direct support to all those who purchase his auto-trader, the creator, known by the moniker “Sampey,” also updates the software quite regularly, and – based on the forum chatter – is quite open to user feedback. He also encourages referrals, offering alt currency traders who bring new users to the fold, certain compensation, either monetary (in crypto currency of course) or in the shape of a free CAT copy.

What exactly makes CAT tick though? After the software has been downloaded, installed and the various APIs have been activated, traders are free to set their algorithms. The Ping Pong algo is where the strength of the whole setup apparently resides and there are detailed explanations available on how to set this algorithm and how it works.

It features three modes: Normal, Static and Aggressive. The settings allow traders to enter a minimal percentage of gain in a Buy/Sell operation. If this percentage isn’t guaranteed, the software will simply wait for another opportunity to surface. Orders total can be tinkered with as well. Traders can set for instance a minimum on order size to skip small orders in several ways: based on preset values, on the size of the available investment pool and on the Never Sell Under/Never Buy Over options. All these settings are aimed at Normal Mode.

Static mode simplifies the equation quite a bit: it lets the trader enter fixed buy/sell values and all orders will be executed at these values only.

In Aggressive Mode, the minimal percentage gain is the only setting that has to be done. Based on that, the software will always try to make successful Ping/Pong trades.

Obviously, there’s a lot more to proper Ping Pong algo settings than that, and the author goes into great details in this regard, so those interested in tinkering with the trader will know exactly what types of settings to aim for, based on their needs.

All that is fine and dandy, but at the end of the day: is CAT a scam? With all the available information, it’s safe to say that it isn’t. It isn’t being rammed down the throats of the public through aggressive marketing, and it isn’t posing as some sort of magic money-making solution. It is essentially sold as a tool for crypto currency traders to automate the trading they would do manually, and thus to cram a lot more action into their trading efforts, covering a much wider range of markets. So no, CAT isn’t a scam.

Does it generate profits though? For some people it might. Its results differ on a case-to-case basis. Some say they haven’t been able to profitably use it. There’s a little bit of confusion regarding its capabilities due to the above mentioned affiliate reward, which has prompted some to post overly positive reviews about CAT. The bottom line is though that it isn’t a magic bullet. It is just a Cryptsy bot playing coin shuffle with the rest, generating some profits for some, and some losses for others, in what’s most likely something very close to a zero-sum game.

What’s your opinion about the Cryptsy Automatic Trader? If you have any information about this product – good or bad – please leave a comment below or contact us.

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1 Comment

  1. erkan ince

    C.A.T. it may be good for experts.. Too dangerous for rookies. I took it. I paid a big BTC. I could not even log in. You need to be very careful. He does not forgive the slightest error. He wants extra money for each line. He is disrespectful and two-faced. He accused me of not knowing. I said at first that I am an amateur. He accuses me of not knowing, but he is not approaching to give back the money. I do not even know who he is. Amateurs stay away.
    Translated by Google Translate.

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