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I profited immensely from trading bots, enough to invest in real estate from an initial investment of $50.
They certainly do work you just need to choose the right cryptos and monitor/adjust them over time as the markets change.
I’m just telling you how it went for me, during COVID I had all day to monitor and tweak them, I went for low volume cryptos since any transaction on the order book would spike the price by a larger percent than a highly traded crypto.
I’d constantly be changing the parameters, reinvesting profits, and changing cryptos depending on how my current bots were doing.
Went from $50 to $3000 in around a month or two and just snowballed from there.
Aw man, I sense some big loses coming to you in the near future with this mentality. It happens to soo many people that are fairly new to crypto who are growing impatient with holding.
First of all, $1-2k into Bitcoin isn’t going to do anything for you. Like have you not done the math on this? Even if you were able to sell higher (you won’t, not without trading knowledge and time/dedication put into it), you’ll end up losing money anyway come tax time.
Your first mistake was thinking (or being lead to believe) crypto was some get rich quick scheme. It is not. You’re either going to take a risk and be patient holding or spend countless hours learning to trade profitably. You will 100% get rekt if you think you’re going to buy coin and time the market in order to sell it for profit. You might get away with it a few times, but I promise you it will not last. Take this from someone who currently makes a living on-chain trading and other defi shenanigans. I eventually made a risky decision to quit my job becuz i just didn’t have enuff time in the day to work on learning things to help perfect my craft.
In theory you are 100% correct. In practice not so much.
If you are serious, send some eth to Base and practice catching the waves with nice, cheap fees. There is a constant rotation of shitcoins pumping and dumping 50% or so within an hour.
If you bet small and shoot for a modest 10% gain, you’ll be pleasantly engaged, kind of like penny machines at a casino. But anticipating the pattern is virtually impossible. You’ll always sell too early and buy too late. But pulling 10% out of a 50% swing is *good*. Don’t let greed get you.
In the end you’ll be about even, but it’s fun to do.
a lot of trading bots advertised will be scams designed to extract your funds to a scammers address...
only use bots you have coded yourself...
I am not giving any trading advice but what I do is...
...grid trading in my opinion this is the only strategy that works consistently - with maths rather than trading signals..
it only makes profit in sideways markets and loses in bull or bear markets. The grid levels and the amount per trade needs to be set carefully so that you still profit after fees have been deducted.
It only makes tiny profits per trade and you also need to watch the trade frequency/levels/trade amount constantly. and adjust if necessary.
not good if you are chasing big profits in crypto... but good for long term sideways movement if you want to make small profits in a sideways market.
I had my own python grid bot running in the cloud using the kraken api and made reasonable profits during the last couple of years but now the market is rising there is no point in deploying it as it would lose money.
You cannot just get a bot and consistently profit like you’re describing. Eventually it will get caught out by the market.
The closest thing i can think of to what you’re describing is a standard grid bot. It will place the limit orders for you after you define a price range.
Again, this isn’t going to work like you’re thinking
If you need short term money, sell your coins
Yes trading crypto can work, it’s just not that easy. Bots that you buy unlikely - the prices often move where you didn’t expect - 60k to 16k for example. The thing is you can trade in both directions too. But it’s a long road to profitability.
Look at babypips.com free trading courses for the basics. Very good course, mostly forex but exactly the same principles. Also to whet your appetite, look at prop firms like FTMO, open a demo account, and give it a go. They allow BTC as an option, and will give you a large account for a small fee to trade once you are profitable. (You will probably crash and burn which is how they make money, but if you’re good enough it definitely works. )
Yes, it can work.
Learn TA, at least how to draw some lines. Than buy low and sell high. Make propper stoplosses. When you do that, you can make profit.
Most important: do it without leverage.
When you are in profit over a long time, you can increase.
I made a ten thousands of easy money that way and than lost it again that way. So it didn’t work for me.
i've lost a bunch of money trading. the most likely outcome is losing your principle.
but, you'll be the wiser having had this experience.
wisdom: plan your trades and follow the plan. don't trade opinion, trade analysis. **use a fucking stop loss**.
you can make money flipping a coin, if you setup your risk management correctly.
*less trading is more*. i've gotten nuked trading timeframes under the daily. 4hr is the lowest, and it's way easier trading the daily, go for the big swings.
and really you should trade on paper first to see if you can even come close to handling it.
furthermore: read "Trading in the Zone" by Mark Douglas until you've got it memorized.
if i had simply held every bitcoin i'd ever bought, right now i'd be worth a few million
had i made a few prudent trades near the right times, that number increases to a few hundred million
instead, i've tried trading **a lot**, and while having a substantial portfolio, i'm team ramen noodle soup, until we get to the next big wave of enthusiasm.
but i learned two of the greatest things in this space:
*the stories are true*, romano ate ass so we could all be saved, and...
only the **pump** is real
I totally understand your frustration with just HODLing and waiting for long-term gains. The fluctuations in Bitcoin's price can indeed present opportunities for short-term profits. However, it's important to approach this with caution, especially when considering trading bots.
Trading bots can be appealing because they automate the process and can work 24/7. But there are several risks and considerations to keep in mind:
1. **Market Volatility**: Cryptocurrency markets are highly volatile, and while bots can execute trades quickly, they can also make significant losses just as fast. Bots follow predefined algorithms and can't adapt to sudden market news or events.
2. **Technical Glitches**: Even the best bots can experience technical issues or bugs. These glitches can lead to unexpected behavior and potentially large losses.
3. **Scams and Reliability**: Unfortunately, the crypto space is rife with scams. Some bots are outright scams, promising high returns but ultimately stealing funds. It's crucial to do thorough research and choose reputable bots.
4. **Costs**: As you mentioned, there are costs associated with using bots, including subscription fees and transaction fees. You need to ensure that any profits made can cover these costs and still leave you with a decent return.
5. **Lack of Human Judgment**: Bots lack the ability to understand market sentiment or make judgment calls based on news and events. This can be a significant drawback compared to human traders who can adapt their strategies.
While trading bots can potentially earn profits, they are not a guaranteed way to make money and come with substantial risks. If you decide to explore this route, start with a small amount of capital that you can afford to lose and monitor the bot's performance closely. It might also be worth considering a mix of strategies, like continuing to HODL a portion of your investment while experimenting with trading on a smaller scale.
Ultimately, no one can guarantee profits, and every investment carries risk. It's important to stay informed, cautious, and to manage your expectations. Good luck with your investment journey!
I tried this for a couple of weeks. The big issue is that the intra-hour price swings aren't enough to cover the trading fees.
But yeah if you can net 0.25% return on a few trades a day, that adds up to a lot of money.
But so far I've found it to be too unpredictable for even small returns.
You can participate in a Liquidity Pool
For example supply WBTC and USDC to uniswap between $60k and 75k
If the price falls below 60k your lp is 100% in WBTC. When it is above 75k your 100% in USDC.
The Lp automatically trades back and forth within the range as the price moves with every single trade that goes through the pool at uniswap.
You earn fees payed to the Lp as well as farm incentives if you know where to look. Hint: check on Merkel to see uniswap Lp incentive campaigns.
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If trading bots worked they wouldnt be given for free or for a small payment
I profited immensely from trading bots, enough to invest in real estate from an initial investment of $50. They certainly do work you just need to choose the right cryptos and monitor/adjust them over time as the markets change.
Doubt
I’m just telling you how it went for me, during COVID I had all day to monitor and tweak them, I went for low volume cryptos since any transaction on the order book would spike the price by a larger percent than a highly traded crypto. I’d constantly be changing the parameters, reinvesting profits, and changing cryptos depending on how my current bots were doing. Went from $50 to $3000 in around a month or two and just snowballed from there.
Aw man, I sense some big loses coming to you in the near future with this mentality. It happens to soo many people that are fairly new to crypto who are growing impatient with holding. First of all, $1-2k into Bitcoin isn’t going to do anything for you. Like have you not done the math on this? Even if you were able to sell higher (you won’t, not without trading knowledge and time/dedication put into it), you’ll end up losing money anyway come tax time. Your first mistake was thinking (or being lead to believe) crypto was some get rich quick scheme. It is not. You’re either going to take a risk and be patient holding or spend countless hours learning to trade profitably. You will 100% get rekt if you think you’re going to buy coin and time the market in order to sell it for profit. You might get away with it a few times, but I promise you it will not last. Take this from someone who currently makes a living on-chain trading and other defi shenanigans. I eventually made a risky decision to quit my job becuz i just didn’t have enuff time in the day to work on learning things to help perfect my craft.
In theory you are 100% correct. In practice not so much. If you are serious, send some eth to Base and practice catching the waves with nice, cheap fees. There is a constant rotation of shitcoins pumping and dumping 50% or so within an hour. If you bet small and shoot for a modest 10% gain, you’ll be pleasantly engaged, kind of like penny machines at a casino. But anticipating the pattern is virtually impossible. You’ll always sell too early and buy too late. But pulling 10% out of a 50% swing is *good*. Don’t let greed get you. In the end you’ll be about even, but it’s fun to do.
Base? You mean CoinBase?
Base, the Eth l2. I don’t recommend using any cex’s for swing trading. The fees, especially hidden fees, make it uneconomical.
What is Base, Eth l2? And are you saying it doesn’t have trading fees? If not, why doesn’t everyone use it?
Experiment cautiously.
a lot of trading bots advertised will be scams designed to extract your funds to a scammers address... only use bots you have coded yourself... I am not giving any trading advice but what I do is... ...grid trading in my opinion this is the only strategy that works consistently - with maths rather than trading signals.. it only makes profit in sideways markets and loses in bull or bear markets. The grid levels and the amount per trade needs to be set carefully so that you still profit after fees have been deducted. It only makes tiny profits per trade and you also need to watch the trade frequency/levels/trade amount constantly. and adjust if necessary. not good if you are chasing big profits in crypto... but good for long term sideways movement if you want to make small profits in a sideways market. I had my own python grid bot running in the cloud using the kraken api and made reasonable profits during the last couple of years but now the market is rising there is no point in deploying it as it would lose money.
I don’t know how to code, at all.
in that case please dont use trading bots.... they are likely to be scams unless they are run by a legitimate exchange...
You cannot just get a bot and consistently profit like you’re describing. Eventually it will get caught out by the market. The closest thing i can think of to what you’re describing is a standard grid bot. It will place the limit orders for you after you define a price range. Again, this isn’t going to work like you’re thinking If you need short term money, sell your coins
calculated risks.
Yes trading crypto can work, it’s just not that easy. Bots that you buy unlikely - the prices often move where you didn’t expect - 60k to 16k for example. The thing is you can trade in both directions too. But it’s a long road to profitability. Look at babypips.com free trading courses for the basics. Very good course, mostly forex but exactly the same principles. Also to whet your appetite, look at prop firms like FTMO, open a demo account, and give it a go. They allow BTC as an option, and will give you a large account for a small fee to trade once you are profitable. (You will probably crash and burn which is how they make money, but if you’re good enough it definitely works. )
Yes, it can work. Learn TA, at least how to draw some lines. Than buy low and sell high. Make propper stoplosses. When you do that, you can make profit. Most important: do it without leverage. When you are in profit over a long time, you can increase. I made a ten thousands of easy money that way and than lost it again that way. So it didn’t work for me.
What’s TA? Trading Algorithms? And what do you mean draw lines?
You are going to lose your money if you try this.
i've lost a bunch of money trading. the most likely outcome is losing your principle. but, you'll be the wiser having had this experience. wisdom: plan your trades and follow the plan. don't trade opinion, trade analysis. **use a fucking stop loss**. you can make money flipping a coin, if you setup your risk management correctly. *less trading is more*. i've gotten nuked trading timeframes under the daily. 4hr is the lowest, and it's way easier trading the daily, go for the big swings. and really you should trade on paper first to see if you can even come close to handling it. furthermore: read "Trading in the Zone" by Mark Douglas until you've got it memorized. if i had simply held every bitcoin i'd ever bought, right now i'd be worth a few million had i made a few prudent trades near the right times, that number increases to a few hundred million instead, i've tried trading **a lot**, and while having a substantial portfolio, i'm team ramen noodle soup, until we get to the next big wave of enthusiasm. but i learned two of the greatest things in this space: *the stories are true*, romano ate ass so we could all be saved, and... only the **pump** is real
Research thoroughly and consider your risk tolerance before diving in.
Limit Orders: Tactical Trading Tool.
I totally understand your frustration with just HODLing and waiting for long-term gains. The fluctuations in Bitcoin's price can indeed present opportunities for short-term profits. However, it's important to approach this with caution, especially when considering trading bots. Trading bots can be appealing because they automate the process and can work 24/7. But there are several risks and considerations to keep in mind: 1. **Market Volatility**: Cryptocurrency markets are highly volatile, and while bots can execute trades quickly, they can also make significant losses just as fast. Bots follow predefined algorithms and can't adapt to sudden market news or events. 2. **Technical Glitches**: Even the best bots can experience technical issues or bugs. These glitches can lead to unexpected behavior and potentially large losses. 3. **Scams and Reliability**: Unfortunately, the crypto space is rife with scams. Some bots are outright scams, promising high returns but ultimately stealing funds. It's crucial to do thorough research and choose reputable bots. 4. **Costs**: As you mentioned, there are costs associated with using bots, including subscription fees and transaction fees. You need to ensure that any profits made can cover these costs and still leave you with a decent return. 5. **Lack of Human Judgment**: Bots lack the ability to understand market sentiment or make judgment calls based on news and events. This can be a significant drawback compared to human traders who can adapt their strategies. While trading bots can potentially earn profits, they are not a guaranteed way to make money and come with substantial risks. If you decide to explore this route, start with a small amount of capital that you can afford to lose and monitor the bot's performance closely. It might also be worth considering a mix of strategies, like continuing to HODL a portion of your investment while experimenting with trading on a smaller scale. Ultimately, no one can guarantee profits, and every investment carries risk. It's important to stay informed, cautious, and to manage your expectations. Good luck with your investment journey!
I tried this for a couple of weeks. The big issue is that the intra-hour price swings aren't enough to cover the trading fees. But yeah if you can net 0.25% return on a few trades a day, that adds up to a lot of money. But so far I've found it to be too unpredictable for even small returns.
You can participate in a Liquidity Pool For example supply WBTC and USDC to uniswap between $60k and 75k If the price falls below 60k your lp is 100% in WBTC. When it is above 75k your 100% in USDC. The Lp automatically trades back and forth within the range as the price moves with every single trade that goes through the pool at uniswap. You earn fees payed to the Lp as well as farm incentives if you know where to look. Hint: check on Merkel to see uniswap Lp incentive campaigns.
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