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re: Crypto Trading Bots
Posted on 11/2/21 at 9:13 am to mach316
Posted on 11/2/21 at 9:13 am to mach316
If your account is not fully funded can you really withstand a ~50% downswing? I get that you don’t anticipate all pairs filling all orders but the crypto market is highly correlated to the price of Bitcoin which would likely be the catalyst for a 50% sell off if it were to happen. I guess you’re shielded against individual coins dropping and not the market as a whole? How well do you believe this strategy work in a bear market? Which subscription with 3commas do you use? Seems you can trade all usd pairs on one bot with the lowest tier?
Posted on 11/2/21 at 10:29 am to Aug1
I have quite a bit in this account to cover a lot of it. My plan was to adjust things as needed depending on the market. I personally think bitcoin will be pushing 100k by the end of January. If it does this, I will adjust my bots accordingly. Of course I could be wrong and we nose dive from here, but unless it’s a black swan type event, it will gradually trend down which should clear my bots. There is also a smart trade feature where you can add funds to a bot after all the safety orders have filled to bring your DCA down even further. There is also a “short” feature that you can switch the bots too, but I haven’t played with this. I’m overall bullish till the first of next year.
Could I run my bots to where they are fully covered all the way down? I could, but what ends up happening is that a lot of money just sits on the sideline not making anything. I noticed this when I started using these bots. When/if bitcoin hits triple digits, I will definitely decrease my buy and safety orders down. Will probably increase the number of safety trades as well. There’s really no perfect way to set them. I’m always adjusting them trying to find the sweet spot I’m comfortable with.
I’m typing this at work so I may not have made myself real clear :(
Could I run my bots to where they are fully covered all the way down? I could, but what ends up happening is that a lot of money just sits on the sideline not making anything. I noticed this when I started using these bots. When/if bitcoin hits triple digits, I will definitely decrease my buy and safety orders down. Will probably increase the number of safety trades as well. There’s really no perfect way to set them. I’m always adjusting them trying to find the sweet spot I’m comfortable with.
I’m typing this at work so I may not have made myself real clear :(
This post was edited on 11/2/21 at 10:58 am
Posted on 11/2/21 at 11:09 am to Aug1
quote:
I get that you don’t anticipate all pairs filling all orders but the crypto market is highly correlated to the price of Bitcoin which would likely be the catalyst for a 50% sell off if it were to happen
A market-wide 50% sell off is pretty unlikely though.
This post was edited on 11/2/21 at 11:25 am
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