Mistakes Were Made-BTC Trading Bot Update March 8th-2024

“Doh” — Homer Simpson.

C.W.Morton

Mar 08, 2024

“Doh” — Homer Simpson.

I was a little impatient and decided to restart my bot.

We kept pushing down towards 66k, and I decided not to wait another day.

Bot back in action. Success.

Then this morning right after I woke, BTC kissed 68500+.

(My sell I was waiting on for the last 2.5 days was $68222)

Thanks Bitcoin.

Oh well. That’s how things go sometimes.

No need to regret or be frustrated. I knew that was going to happen, I just hoped maybe it wouldn’t happen ….immediately.

Sometimes my human intervention can cause an opportunity loss, like this one.

Had I left my bot running, it would have sold for around $120 this morning, and the bot would be back in action anyway.

Instead, this is my profit right after crossing that price :

Sad trumpets.

I adjusted my bot configuration slightly when restarting.

I increased to 7 buys, lowering my price entry floor by about $1000.

Instead of having a price range of about $1200–1500, I have expanded that to a $2500 range, approx.

I set my sell price lower, so that my bot will capture more if we continue micro-fluxing in a thinner range.

I am set up to capture volatility in a smaller range, while also not investing my full position as quickly as before, helping mitigate the possibility of being stuck out of range by a sudden price flux.

Is this a knee jerk response?

I had to stop and ask myself if emotion was coming into play here.

Yes, a little.

However, I decided to consult the charts, and it looks like it will be a good idea to be set up for more volatility.

This simply is not a season of flat/sideways action lasting too long.

My normal mode of squeezing needs to be modified I think, to help avoid random bot inactivity.

I have been doing that for over a year, in VERY different market conditions.

This is my first bull run while trading with martingale bots.

These are my settings today:

I kept the squeeze going to capture the range we are bouncing in, but I mitigated risk a bit by executing more sells and widening my price entry floor.

Back in action again.

I am glad I widened my price floor.

Look at what has already happened. This happened while I was writing this…..

I have almost invested my full position, and would be out of range right now if not for widening.

I will be monitoring this closely, and might adjust my range even wider.

The AI Settings in Pionex are calling for a 1.4% Price Scale, and 1.4% sell, which is quite high, and I assume based on the recent dip and its impact on moving average calculations.

Not sure I want to go that extreme.

If I end up out of range for a couple days again, I will likely wait it out, slam stop only when I am in the green by a decent amount worth stopping on, then restart the bot with the AI settings, and see how it goes.

I still anticipate an overall upward trend, so I don’t want to kick myself in the foot again.

That is all for today.

See you again tomorrow!

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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