Boom bop beep boop— Crypto Trading Bot Update July 12, 2024
Going strong again after stopping a bot in the red.
Going strong again after stopping a bot in the red.
I stopped one of my BTC bots at a loss last week, but for some reason I decided to keep the ETH bot rolling.
I just felt that ETH would recover faster.
BTC and ETH did a unison dive — each bot did one sale at the first buy level, then the market took a big old poop mid-day 4th of July, and all my bots were in the red.
BTC bot :
ETH bot :
This is one of those times where stopping the bot didn’t seem to have much effect other than netting a bigger loss, unfortunately.
That can happen sometimes. I can’t come out on top all the time.
The market is plugging back upward since yesterday morning, after a good 6–7 days in the red, and my ETH bot made it to the sell threshold.
Not going to risk bouncing lower before capturing anything.
My “see $100, take $100 rule”, rarely fails me.
My ETH bot — I never stopped it at a loss this time, so it’s net profit in the last 7 days or so was $151. No loss to make up for. Still less profit than what I have seen during a volatile flat or bullish trend. I am not certain if I would have profited more by restarting it or not.
I wish there was a way to paper trade on these Martingale bots. That would be helpful.
The BTC bot is still making up for the loss since I closed at -$400 or so, and hopefully that will be recouped by the end of this week. $100 recouped, $300 or so to go.
The BTC bot I am parallel testing by running it all year — is still in the red. In hindsight, starting it right now might have been a hasty decision.
But — I am keeping all my spreads wide, just in case we keep dipping.
Glad I put back some of my earnings from earlier this year, I am going to have to rely on some of my other income this month + a little ASIC mining income, since the crypto bots didn’t profit very well this last month or so.
Hows my LTC bot doing?
I’m playing a totally different game with the LTC bot lately. It hasn’t yet hit a big sell, and it’s been running for about 20 days or so now.
I’ve created a hybrid Moon Bot using my LTC Martingale bot, instead of using a Grid Bot.
Much wider spread, and 10 buys.
2% / 2% — and 10 buys. Giving me a 20% Spread range.
The goal — use this bot to play a longer game like I normally do with limit orders on Litecoin.
I also have limit orders open for Litecoin to see if this bot is worth it, or if I should just keep doing limit orders on Litecoin, for the reason mentioned in the short video above.
It’s a little bit of a parallel test, though not apples to apples.
Beginner’s Guide to Crypto Trading Bots — Part 20— Parallel Testing
Time to fine tune your automated income.
One last note:
In previous BTC halving years — I have noticed a trend.
Strong bull activity in the spring (after/during taxes?) and then a dip through the summer into the fall and then another spike in the fall/winter.
That happened in 2020, and then going into 2021 a very similar pattern.
Will that happen again 2024–2025?
No idea, but I’m mindful of the pattern.
That’s all for today.
Back to summer.
I hope you all are enjoying the summer as much as I am!
Thank you for reading!
Until next time….
Onward and Upward Everybody!
-Chris
Automated Income Lifesyle w/ Chris Morton YouTube
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