Gains, Gains, Drawdown. BTC Trading Bot Update March 5–2024

And that’s the way we roll.

C.W.Morton

Mar 05, 2024

And that’s the way we roll.

When I went to sleep last night, my BTC bot had captured a little over $150

When I woke up, I had about $275.

So I decided to slam stop and capture that profit, extract as USDT, and restart my bot.

Not anticipating the dip we just had later this morning, I set my settings to the same thin spread as before, mentioned in my previous daily story updates tracking this bot.

Shortly after I captured that profit, BTC fell by almost 3%, and my bot went into full drawdown.

This excites me, because my bot has now invested my full position.

But it also means my bot is IN THE RED now.

Now I have to be patient and wait, OR, if the price condition stays out of range for 48 hours or more, I will stop my bot, eat the loss, and start again in the new price range.

Ideally, I never want to drawdown more than $200 or so if I think the market is changing directions.

I also have to consider that I am also UP almost $1300 or so in 6 days, so eating $300 or so isn’t going to hurt.

This has been a zig-zaggy price staircase so far this season, so stopping this bot to early is definitely not what I am trying to do.

I would normally slam stop in an extended flatter market or a market that isn’t in the middle of a bull run.

Now, I will wait.

This is the game ladies and gents. This is the game.

When (if) BTC swings back up, I will be playing with my full position on the table ($10,000). If it sells at 1%, that will be $100 per swing, and if the increase is 2%+ as before, I expect to see my bot pull $300 or so in the next two days.

This however is totally dependent on BTC upturning again.

BTC could go into correction mode and keep sinking.

OR, if I am reading my chart right (and no guarantees that I am here), I think this is a typical dip before another spike.

Keep in mind, 60K was a new high just a few days ago, falling back to it is NORMAL and almost expected.

Disclaimer : This is not financial advice and I am not a financial advisor. This is just what I am doing with my own money. I am NOT an expert. I am some dude on the internet who sees a path sometimes, and takes it.

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