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re: Crypto Trading Bots
Posted on 11/3/21 at 5:53 pm to TigerFanatic99
Posted on 11/3/21 at 5:53 pm to TigerFanatic99
Stupid question.
IF crypto goes into a deep bear market after it peaks (say Btc and alts drop 75% by end of 2022), do these bots protect you from losing money on the way down?
IF crypto goes into a deep bear market after it peaks (say Btc and alts drop 75% by end of 2022), do these bots protect you from losing money on the way down?
1
Posted on 11/3/21 at 6:29 pm to Gpfather
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.
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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