You won't lose a dime unless you set a stop loss, or you force sell at a loss. The worst that can happen is you run out of money buying safety orders, which will just give you an error message. Then you will be just stuck with your bitcoin that you bought at higher levels. You can either wait till it recovers, or use the add funds feature and try to DCA it further down. Not sure if that makes sense or not?

Basically you will have no cash, but you will have the crypto you have purchased. So unless crypto goes to zero, you will just have to wait until the price recovers. Then it will sell it at your average price.

I have $16k of Cardano right now just sitting there since 9/11. It's making zero money. All I need is an 11% pump and it will clear, making a profit of about $200. I definitely haven't lost anything just holding it.

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Posted by LordSaintly

Member since Dec 2005

38954 posts

Posted on 11/3/21 at 7:15 pm to mach316

Alright, I tried it myself with $1,000 invested. Yesterday I made just $8, but I created more bots today and made some tweaks. Today I made $54.

My new IOTX/USDT bot absolutely killed it since IOTX went on a major run. In hindsight, I didn't do a good job of picking trading pairs yesterday because I had some that were relatively low volume.

I have 18 bots using $10 base orders and 10 safety orders at $10 a piece. All my bots are nowhere near covered though and I ran out of money for a few minutes today. Once I'm comfortable with this amount, I'll add more funds. I definitely want at least 40 bots, but I'm comfortable with using just 10-15 safety orders each.

But yeah, as mach316 said, you don't technically lose money until you sell at a loss.

Other settings I used:

Take profit: 1%
Safety order price deviation: 2.4-2.5%
Safety order step scale: 1
Safety order volume scale: 1.05
No trailing stop

This post was edited on 11/3/21 at 7:20 pm

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