Challenging Month — Crypto Trading Bot Update July 04, 2024
Ridin’ the dip!
Ridin’ the dip!
The last few weeks have been less profitable than any of the months in the previous year.
I have hit the weakness of these particular bots again, as I’ve mentioned before:
Entering the Martingale Achilles Zone — Crypto Trading Bot Update May 29th, 2024
Bearish movement is not ideal for these bots, but it’s still workable!
3 of my 10k bots have only netted around $300 and have been fighting to stay in range. The 4th has been in the red since I started it a few weeks ago.
I’ve had to stop at a loss several times to keep my bots active, and this is in spite of having widened my spread to 1% / 1% and 7 buys.
My BTC bot that I restarted after the last dip — has captured $89, then it’s been in the red for the last few days. I am going to restart it tomorrow morning, assuming we don’t have any recovery action.
That bot I am parallel testing by letting it run for an entire year — has been out of range the longest, and admittedly it has been really hard to watch it sit there inactive knowing I could have profited at least something if I just played my normal Semi-Automated strategy, but it is what it is, and I will wait it out. A test is a test!
Beginner’s Guide to Crypto Trading Bots — Part 20— Parallel Testing
Time to fine tune your automated income.
^ Womp womp womp.
I am not very concerned — this is an unrealized loss and what bothers me is the Opportunity Cost. Unless Bitcoin never recovers, I expect this bot to eventually go back in range and start gaining.
It just really sucks that the double-dip happened right after I started it, so it hasn’t captured jack sh*t.
Not exactly a great way to start off what seems like will be the significant downtrend for this year.
I may even start another bot with an ultra wide spread soon— like 2%/2% and 10 buys. Just to see how it does in the long term.
I’ve been running these Martingales mostly during a flat / volatile / bull condition for the last year and a half. That is when they shine.
The market downturn trend so far has been surprisingly hard to navigate….. and not very profitable at all.
All 4 of my Martingale bots are in the red, again, maxed out on their positions and dipping further.
I am plotting at what point I need to slam stop, but hoping we have another upturn back to $60k+ and $3330, as that would trigger my sells.
As well — the “whale signal” I have been following stopped giving me notifications. I have been using this for a while now to fairly accurately time when I need to widen my spread in anticipation of a dip.
Not sure why, I have tried uninstalling and reinstalling the app, but no avail. I only get one futures notification now, not a cascade of notifications.
It was the stream of notifications that let me know “this is how the whales are betting!”.
One notification doesn’t really say much. Hopefully I can figure that out, it was an easy signal to watch. I haven’t had any luck with signals from Telegram channels, etc.
I am testing other bots and venturing out into futures bots in KuCoin to see what I can make happen. Wish me luck. Going to see if I can play some leverage to short myself info recouping some of the lost potential-gains.
As I mention in my Beginner’s Guide to Crypto Trading Bots — I am starting small and only testing leverage on $100 balances.
Also — I am in the United States, and I don’t recommend trying this until you have a Palau ID and can KYC on the platform, otherwise you are blocked.
I am only moving $100 at a time to test in futures bots, this will be the first test of my KuCoin account since I acquired my Palau Digital Residence.
KYC Loophole Exploit — My Palau ID Finally Arrived!
My Digital Residence ID from Palau arrived in a fancy envelope with a wax sealed stamp.
Well, time to ride this one for a few days. I have fishing planned and a full weekend ahead, so hopefully we don’t keep sliding down.
Lots of speculation as to the reasons for the price dips.
The usual suspects are Fed meetings and interest speculation impacing inflows and sales.
And perhaps Mt Gox strikes again:
https://cointelegraph.com/news/why-is-bitcoin-price-down-today
Until next time….
Continue to the Next Story in this series:
Boom bop beep boop— Crypto Trading Bot Update July 12, 2024
Going strong again after stopping a bot in the red.
Thank you for reading!
Until next time….
Onward and Upward Everybody!
-Chris
Automated Income Lifesyle w/ Chris Morton YouTube
#bitcoin #crypto #ethereum #ethbot #bottrading #martingale #strategy