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This article is for crypto enthusiasts who already have a portfolio and are looking for the best cryptocurrency trading bot to passively grow their wealth. This is not really a topic for newbies to crypto. I started investing in and trading Cryptocurrency in December I taught myself to trade and diversified into altcoins.
It was a rollercoaster. Every day I get emails from people asking what they should do with their cryptocurrency portfolio… Is there going to be another gold rush?
Will Bitcoin and other coins reach their all-time highs again? Should we just cut our losses and exit Crypto now? Cryptocurrencies solve a number of problems — not just the cheap, anonymous and fast transfer of funds — and represent many exciting ventures in the tech and financial industries.
Cryptocurrencies represent the revolution of our outdated financial sector and over time we will see mainstream adoption of Bitcoin and other cryptocurrencies. So the best piece of advice I can give to anybody who has a Cryptocurrency portfolio is to remain strong… Do not dump your portfolios for pennies on the dollar.
You want to be constantly growing your Cryptocurrency portfolio and increasing your wealth. Ideally, you want to do this with a minimum of work and stress. If you have a portfolio already especially if you have a large one , it really does make sense to seriously consider utilising a crypto trading bot to grow your portfolio for you in the background.
If you are interested in growing your cryptocurrency portfolio using an automated crypto trading bot — this post is a great starting point…. Chuck is a full-time professional cryptocurrency trader who has managed the impressive feat of living off his earnings from just a 10k initial investment into crypto.
Anyways, without further ado, allow me to introduce you to Chuck, he will walk you through his findings on the exciting world of crypto trading bots….
I was living in Thailand so my monthly expenses were only about 2k super cheap! Well, crypto was booming at the time and it was feasible even for a complete novice like me to continuously hit those targets. The major missing piece here was that I spent those returns every month instead of letting them compound.
I thought being a trader meant living off profits, without understanding what would have happened had I used those returns to keep growing my capital instead. No, not great at all — with the benefit of hindsight this has turned into a painful lesson. But what would happen if we left that capital and worked on it for 3 years with the same rate of return? That takes LOTS of time and experience more on that later. But that potential for incredible growth is what compound interest does.
These are the lessons I wish I knew when I started. Compound interest is a beautiful thing, with more potential to be life-changing than nearly any other financial concept.
The hard part is to always keep the big picture in mind and not obsess over each trade or the everyday, and let your money grow without touching it! This last part is probably the most important and the most difficult. However, there are definite trends that can be followed that will return a consistent profit even though there will be inevitable losses along the way.
Profitable trading is a game of probabilities, there are things you can do to increase your chance of winning- such as learning how to follow trends and chart patterns.
Most new traders make counter-trend plays in hopes of generating outsized returns. Most new traders also lose money. By utilising a cryptocurrency bot to make your trades for you, you can play without emotion and stick to a strategy that would be far too time-consuming to do manually. Before we dive into the exciting world of cryptocurrency trade bots, I want to tell you about a legend… Richard Dennis.
He basically bought anything when its price rose above the 25 or 55 day high, within strict risk-management guidelines for position sizing. Buying only high prices seems counter-intuitive, but he held his positions for long periods of time. Which was opposite to the vast majority of traders in that era who were in and out of positions every day and trying to scalp for quick profits. He did this because he understood that the commodities markets moved in long directional trends and that the big money was in the long, slow price action.
Can you think of other markets today that move in long directional trends? To prove that successful trading could be taught, he hired 23 people from all walks of life, trained them on his system for two weeks, and then backed them with his own money.
They became known as the Turtle Traders, so named because they moved slowly and stayed in positions for far longer than other traders. In the beginning, he kept a very close eye on them and put them through a one-month trial period where they could trade on a limited basis. Quite a few failed, simply because they thought they could beat the system and make more money faster.
Richard promptly fired each of them that made that mistake, because not only was it his money they were risking, but his priorities were following the trend, staying in the big price moves for long trades, and minimizing risk. Before you run out to buy these books, we need to look at what happened to Richard Dennis and his mechanical system after the market crash known as Black Monday. The Turtles lost money; and a lot of money.
Before you feel too bad, he was still worth hundreds of millions and was able to focus his time on charities and causes he was passionate about. Why did the system never work again? But I have a theory; trend-following systems work best in younger markets , and as more and more capital came into the commodities markets he traded, the dynamics changed over time. Trends were less clearly defined as supply and demand came into balance and price became set by a highly efficient global market, instead of being dominated by human emotions and singular events.
But, consider that this took 17 years to come about, so it was a great long run that made everyone using this system incredibly wealthy. The Turtles had the luxury of markets that were only open on business hours and closed on weekends and holidays. It was also incredibly time-consuming to backtest historical price data on your own, in Excel. I needed a way to test the data — preferably using an independent company, a way to automate the trading system, and a highly accurate algorithm that was tailored to the Bitcoin market.
This would naturally lead you to start searching for the best crypto trading bots on the market…. The two biggest names in the trade bot space are Hassbot and Coinhopper. I never used these personally, because they appear to focus on quick, tiny gains, or on the user building out their own strategy. And why would you buy something before you know if it works?
This is the beginning of the journey of how I stumbled across the independent bots on TradingView. Individuals who are trying to create their own mechanical system can use the TradingView software to automatically backtest the strategy to find out if it works. This is huge. Someone I followed accidentally posted a chart showing their algorithm executing trades and I jumped on it. It looked pretty good, so I asked if I could use it.
After a couple weeks of back and forth, the guy communicated to his friend who had started it, whom I had to pay in Bitcoin and then go through the initial headache of setting it up unassisted. After a couple days of set up, I was rigorously pouring over trade history for 13 hours a day to see if I could trust it to trade on its own with my money.
Most trend-following strategies will get chopped up in a ranging market. We were ranging at the time and the price action kept triggering buy or sell alerts at the wrong end of the range. After 18 straight days of price chop, the bot would have bankrupted an account using any leverage. It still needed a lot of work…. But it was clear this guy was still on to something. It caught every major price move by BTC over the last six months, which is not easy to do.
It consistently followed the major trends and made money most of the time. You just had to manage it and turn it off when price was consolidating. After many more days of testing and lots of trial and error, I happened across a screenshot of a different bot. This time it was made by someone who clearly knew what they were doing. This was an insane step up from the first bot I had experimented with — every single setting and time frame had been tweaked, adjusted, and tested for maximum profitability and minimal drawdown.
Trends were caught earlier. Maximum drawdown was measured and accounted for. Furthermore, every step for setup was laid out clearly so all I had to do was follow the instructions and cut and paste.
There was even a video walking you through the settings. If only it had been this easy the first time…. He even had a Discord chat with every setup up question laid out and answered, and a really small community of people helping each other figure this stuff out. And almost no one was using it yet. After running the data myself and testing it with small amounts, I switched over from the first bot and have never looked back.
This is now what I use on my main account and I am comfortable backing it with my hard-earned money. It has been such a good experience that I also recommend this to my friends, family, and anyone else that believes in Bitcoin long-term and wants to increase their exposure to it beyond just holding. The truth lies in the data…. So far, user feedback has been unanimous — this trading bot is a total game changer. You can see a whole bunch of user reviews below…. This bot has actually had even better performance, but just wait- two more years?
The bots need volatility to generate returns and the crypto markets are moving slowly right now. Have patience and let your capital grow. Markets do change and volatility generally decreases as markets mature; which means that these kinds of gains in BTC will most likely be harder to achieve in the years to come. But, those are the gains this bot has achieved consistently so far, in a bear market. Not many traders will ever match those returns and those that do will spend years getting good first.
This trading bot only takes half an hour to set up and then it runs itself. You will take losses. Think of this like being a shareholder in a casino where the odds are in your favour — not every trade will be a winning one and it will take a lot of trades to grow your account enough to reach your goals.
Profit from every market movement
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🤑 My Week 1 Crypto Trading Bot Results - 7.7% Per Day!? - Bitcoin Trading Bot
How to Swing Trade Using a Bitcoin Trading Bot
As it can be fully automated and bifcoin the same time completely decentralized. Thanks for sharing! However, in order to be bitcoin swing trading bot successful trader, you need to have a lot of technical understanding of bitcoin swing trading bot market. The bot is set vot on the cloud and is accessible through the website. Determining the optimal amount depends on your trading style and budget. Like all great things, crypto hopper does come with a price tag attached to it. Because we fill one buy and one sell order we are losing 0. The whole point of going with an automated bitcoin trading is to make the whole process of trading cryptocurrencies easy for. This link the most versatile cryptocurrency trading bot in existence right. How does the number of grids affect profit? Bitcoib to Run a Blockchain Unconference. This bot runs on top of the Ethereum blockchain and can be easily implemented with almost all the major cryptocurrency exchanges out .
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