re: Crypto Trading Bots

The minimum would be $10 buy order and $10 safety order. I believe the video shows his starting his out at BO $10/SO at $20 with a 1% take profit amount. You could do 20 safety orders at a 2% price deviation. Then set your safety order volume scale to 1.05.

It will show you the amount the bot would cost in a little box on the top/right side of the screen when you create one. You can adjust these numbers any way you want though. Of course running just one bot may be pretty boring, but it will at least show ya how to create, and adjust them. Ultimately you will want several bots running at the same time, because you never know which one is going to make a run.

Thanks. I just kicked off a basic bot basically following what you said, trading BTC, DOGE, ETH /USD with $250 seed money just to see how it progresses. I'll update the thread periodically with progress. If it seems like stable growth I'll start increasing the funds and increase the bot activity.

Should be fun if nothing else.

Can you not trade all of the USD pairs with only one bot? What’s the purpose of multiple bots other than different trading strategies?

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on average, it has produced $300/day

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Forgive my naivety on this, but I didn't even know such things existed until I read about it here.

Couple of (probably dumb) questions: What kind of capital are you investing into the 51 bots you are running to reach those returns? How much are you paying in fees per month/transaction/whatever?

Obviously, it has to be an extremely volatile space with at least some risks, but that's basically a $100K/year cash cow at those rates.

Replicate that for a few years, and this old cowboy would just go ahead and retire.

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What are your thoughts on lowering the profit take to 1% instead of 1.25 or 1.5? Wouldn't that cause more trades to initiate over the long haul, generating more overall profits? smaller chunks more often. I don't see that talked about anywhere so I'm obviously missing something.

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I had mine at 1% for a while, but with the market being pretty bullish right now, I've increased it to 1.25. Trade alts just put out a new video this weekend showing some tweaks he has made to his original videos. He's taking profits at 3%. There's really no right answer. I know I want my bots taking profit, and opening another trade ASAP. I leave the trailing deviation on to capture any big runs of 2,3,5% that some of these alts do. The trailing deviation is set at .2% by default. That means it will continue to follow the price up, until the price drops .2%, it will then take profits. For instance, ADA runs up to 1.8%, your sell order is at 1%. Your sell order will follow follow the price all the way up to 1.8% until it drops .2%. So ultimately, you will make 1.6% profit.

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Forgive my naivety on this, but I didn't even know such things existed until I read about it here.

Couple of (probably dumb) questions: What kind of capital are you investing into the 51 bots you are running to reach those returns? How much are you paying in fees per month/transaction/whatever?

Obviously, it has to be an extremely volatile space with at least some risks, but that's basically a $100K/year cash cow at those rates.

Replicate that for a few years, and this old cowboy would just go ahead and retire.

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To be honest, I didn't know this existed either until I stumbled upon the Trade Alts videos. He explained it so well, I figured I would give it a shot for a few weeks. I used the free plan and made 1 composite bot with 5 cryptos. I put in 5k to start. Even with 5 bots I was making money so added another 5k, then another. It was working just as advertised. I sent it to a buddy of mine and told him to check it out. I wanted him to show me what the "catch" was. After a week or so he was convinced, like me, that this was legit. The only way I see losing a dime, is if cryptocurrency completely collapses. I don't care what the price of crypto does. I will make money on the up and down movements they make.

Ultimately I sold some crypto to fully fund these things where I could run 50+ bots. I think I was dealing with about 70k. Since I've started, I have made almost 28k in REALIZED gains. Could I have held my crypto and made more? Yes, but would I have sold it to realize those gains? Nope! This takes all the guesswork out of it. Takes stress off me when I see bitcoin go up 10% and retrace 10%, and I didn't make a dime.

You don't need a big back roll to start this. You wont get rich over night. This is a steady stream of money that you can pocket, or make more bots with. I have friends that are using the free service, and make profits every single day. Most have gone on and bought the program, and are building up a nice number of bots. If you try it, you will see the first morning you wake up with cash that was made while you were sleeping, you will know its legit. Bots run 24/7/365 unlike the stock market. Lots of time to make profit.

About the fees, Bincance US has 0.1% spot trading fee.
The only issue with this whole system is the short term gains tax implications. I'll leave that up to a professional.

it was tough to sell some crypto because I've been a HODLer for so long, but this worked so well for me. Figured I would take a chance.

They may have changed the rules a bit. The Advanced plan is like $24/mo or $300/yr. You'll find out pretty quick, it pays for itself fast. Congrats on the $1.80!

You're right on the price. My bad. I'm getting old, and my memory is not what it used to be .

If I'm not mistaken, I believe you're taxed on every crypto sale where profit is taken, even if it stays on the exchange. I may be wrong though. I look at it like this. If I'm paying more in taxes, I'm obviously making more money. I don't like it, but part of it I guess.

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.