Bitcoin Forum

*Disclaimer - This is only one of the exchanges that I’m currently trading. I'm also running a Market Maker Bot and Arbitrage Bot using Gunbot (different strategies in trading). The results may vary depending on the market conditions if you try to run it. There could be profit or losses. Rest assured that Gunbot runs the right way according to your parameters in your Trading Strategy.

*Update - January 9, 2020

I'm crwth and I'm going to try to a live challenge using Gunbot (https://gunbot.ph) and I will update it daily with current happenings like trades, if it's Short or Long, etc. I will be using Bitmex as my main exchange to take advantage of the leverage on the exchange and with the options of trading on a bear or bull market. You could also take advantage of this if you decided to get your own. Gunbot products are 50% off for Christmas, btw.

I'm trying to show you guys how you could trade using an automatic trading tool and at the same time, you could learn how different indicators work. This would be a conservative setup in which we limit trades to make sure that we entered at the right time and right price.

I'm using Gunbot Ultimate at Bitmex exchange.

https://i.imgur.com/AWOraQW.png

Parameters:
Buy Method Bollinger Bands When Ask Price touches Lower BB, it would go Long
Buy Method Bollinger Bands When Ask Price touches Higher BB, it would go Short
Additional Indicator: RSI - for confirmation of the trade
Amount per trade: 10% of total balance
Stop Loss: 10%
Leverage: x10
ROE: 20% and with ROE Trailing with Gunbot, it will check per 0.1 ROE Increase/Decrease to see if it will still rise, making it sure you get a better profit.

Starting Balance: 0.01500000
Current Balance: 0.01482722
Profit: -1.15%

https://i.imgur.com/YSEmSm1.png

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The bot is running 24/7 in a VPS

Gunbot - Automatic Trading Tool (https://gunbot.ph)
RSI Indicator (https://www.investopedia.com/terms/r/rsi.asp)
Bollinger Bands (https://www.investopedia.com/terms/b/bollingerbands.asp)

Summary of Trades:

https://docs.google.com/spreadsheets/d/15TZFTkxUn3qto2Vq99QXiVxCbtAbb-CYFAE1dH2q27A/edit?usp=sharing

I have inserted summary of trades since the start in the second post with the spreadsheet. I would be continuously updating it together with posts like this.

https://i.imgur.com/RGIzgEd.png

It made a couple of trades. I think I need to adjust the ROE per trade, it could've gotten a bigger profit if it haven't exited early. I would adjust it to 0.5 ROE in the program.

You could  see the history of trades also with the arrows and the side bar.

Another adjustment towards my settings. I have misunderstood the stuff with my ROE settings and I thought it was not yet multiplied by your leverage. I missed that. So right now I got updated settings and currently, with the recent pump, I was at loss today. I'm here for the long run, so let's see so everyone would be part of the ride.

Current Position: Short
ROE: 3.3%
Entry Price: 7167.50

https://i.imgur.com/DRE7YZx.png

I would personally no longer short this after such reversal on daily TF, even the candle close seems in favour of bulls.
I assume this was the so waited bottom. Good luck with your trades tho!

What's the pros of using the bots when the result is a loss ? i hope the bots experienced loss only because of this bad weather of crypto market.
And when the market is sideway or calm, it could have more profits than loss. The market is in good condition right now and most of coins are recovering, is it a good time for using the bot ?

To execute OP's command even he is out of his desk. Look at his set parameters, it needs a close watch that's why OP considers using a bot.

Nice thread OP. A good watch for those who want to consider using bots.

Hope you will have a good run.

I didn't personally do it, Gunbot (https://gunbot.ph) did and we will see what happens. I changed my timeframe to 1 hour instead of 15 mins to make sure I have better view in the long run. You will never know once we are there. I didn't expect the fast rise of BTC. I have different accounts for trading and this one is dedicated to automating it. It makes me worry less about thinking if I should go out or not. Whatever happens, I would be transparent.

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It's always a good time to use a bot especially if you want a 24/7 checking of the market. It would depend on you. You could PM me if you want more info about it.

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I do hope in the long run, I would be able to show the trades that it had. I am also trading other markets like Arbitraging and Market Making.

Waiting for trades now. I just got a great trade with the recent short from 7167 to 7100. Now currently waiting for another opportunity. RSI is not yet confirming trades. The price of BTC is not yet touching any of the Bollinger Bands. It's best to be at the right timing when entering trades. Good thing that an automatic bot is not emotional and doesn't feel FOMO.

https://i.imgur.com/TyHk3tP.png

A recent trade happened and it turns out it still went up. Stop loss is hit but it's okay. We're in here for the long run. I have updated the trading history.

Recent position:
Short Position
Entry: 7193
Stop loss: 7272

https://i.imgur.com/rtGShlb.png

I'm happy with the recent trades before. As you can see it made a comeback and we are almost back to where we started. Hopefully more great trades to come. We're in it for the long run. Will continuously document this and maybe people would be more interested.

I have changed the parameters as well with regards to ROE. I like the current settings with the current market.

https://i.imgur.com/2SoX40K.png

Super happy you keep updates even during the holidays. Personally I'd like to read more details, maybe some reasoning why you changing parameters and more statistical data to keep an eye on would be great. Summarizing key infos in the post rather than having to read from screenshot would greatly improve the experience for readers imo.

That's a piece of helpful advice, maybe more detail so I could share why I chose that type of setting. I'm just not sure what other statistical data you are talking about but if you have other questions, I would be willing to answer them.

Anyways, here's my update.

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I didn't change any settings currently and I stayed it as an ROE of 20 so that I could recover my previous losses.

I'm trying to emulate a swing trading type of strategy using a bot to make decisions for me.

• When to get into a trade
• When to take profit

Current position:

Long entry @ 7136 - ROE: 6.53

https://i.imgur.com/SClbYkj.png

The encircled part is the long position I got, so hoping that it would be the bottom of the week and maybe have a higher price so we could profit? Hopefully a fruitful new year! Happy 2020!

Think I just auto piloted and expected balance/profit update in your last post and not the first one :D all good as it is. What RSI thresholds are you using for signal generation? Did you backtest this strategy or went live straight away? Also did you think of some dynamic stop loss? fixed 5% might be sub optimal in many setups

I am doing the same trading bot challenge with 0.4 BTC invested using the cloud-based bot platform. You can check my performance here: https://tradingbot.info/category/results/

Maybe it would be helpful for the readers to have an update with the current updated post and not just the first one, no?

I'm using 35 and 65 RSI as my buy and sell confluence with the Bollinger bands. I actually just directly input it. I haven't actually backtest it but it is possible in Gunbot in TradingView. You could also utilize TradingView together with Gunbot in trading.

The reason I chose a 5% stop loss is that I wanted to have a low-risk, high reward type of trading. I'm not sure it would work in the long run but I love to see how it goes. I think I would create a new thread and it is with Market Maker mode of Gunbot.

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Good for you. I don't trust cloud-based type as it may compromise my data like the API Keys and Secrets be used in a malicious way or something. I didn't check your link though.

I've been following your progress as well but there hasn't been any update in a while:P Should we expect anything soon?

Yea I think it has only upsides. The history of screenshots/updates will still be visible in your posts but it will be way easier to navigate the thread when we get to these 100 pages :P

Think you should try backtesting. It's not only binary test as in working/not working for a strategy but you can simply tweak it easily and increase your edge without risking any capital. When I checked for crossings of moving averages, they worked way better without a stop loss. Also adding RSI filter has lowered the profitability.

Thank you for your contribution, maybe, in the long run, there would be a great result. At least it's a humble beginning and transparent.

I did a couple of backtesting before like this. See the picture below

https://i.imgur.com/ozwV3jJ.png

You could check the profitability, net profit, percent profitability, and anything that you could get in TradingView. It's an additional extension for your Gunbot and you could test out your strategies there easily. I know that I haven't completely backtested it yet but I think it's okay to consider since I'm limiting my trades with RSI. It's better to make sure.

Have you checked for profitability of your strategy without rsi filter? That's what I'm talking about. I had a strategy that in my mind should perform better with this type of 'insurance' filter but actually it did hurt the performance. F.e. 2 moving averages crossover simply earned more money if i didn't use RSI filter or stop losses. In many markets that is.

hmmm, gunbot doesn't seem to be as effective as what people say. I think that the person who executes the trade using the bot still has to make a lot of adjustments. Hopefully, in the coming days, the author will update the trading profit in a week soon and show which trades are most profitable when using which indicators. This will definitely be a good experience for the latecomers like us.

Good topic, and good luck OP! You picked a very good time to do the challenge.

Would GunBot be suitable for trading using daily, or 3-day charts?

I did but I think in general, it made more bad trades, maybe since I'm using the BB strategies and not what you suggested with the MA. Maybe I could try and find a better strategy and I could make more threads like this because it's good to actually see things happening. I'm just not yet satisfied with the current results now. Still not yet up to the resistance of my capital, Lol.

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How could you say it's not effective when it's trading for you? The software is doing what it needs to do, it's the strategy that you need to optimize in order to have the best result. That's why I'm doing this to test the current strategy that I have, BB and RSI.

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Yes. It would depend on the exchange that you have, so if it supports a 60-minute chart or weekly charts, you could set it.

https://blobscdn.gitbook.com/v0/b/gitbook-28427.appspot.com/o/assets%2F-L_Rejuz9K0BDQxSQvUH%2F-Lel5DD-JgOyWPYzyhJB%2F-Lel5Ga2h4Y2x3LmCpOF%2Fimage.png?alt=media&token=3aed972e-03c2-413d-88d6-3791d3c57d4a
From: https://wiki.gunthy.org/how-to-work-with-gunbot/basic-workings/period#choosing-the-right-period

Your experiment is a work that helps the community. But I do not support it. I have seen a few others doing experiments with trading bots like you. All they gain is the bot's botched truth. They have spent a considerable amount of money on those experiments. Do not waste your money :( it is my advice

Thanks for your opinion but I don't think you understand the current reasons why this is being done. I suggest you show me those "a few others" you are talking about and I'm going to tell why it's different. Maybe you just don't understand trading at all. Probably they don't have the right tools or parameters but it's a work in progress. It's not magic like you think it would be. Thanks for not supporting this because I know you can't even support your own statement anyway. Lol.

If it's your mind, I have nothing to argue with you. I just see most of you are wasting a lot of money on some damn bot. In fact, I don't know about anyone that has made a profit from what the bot does, they always lose at a few moments, but the amount of money is huge compared to the winning amount.

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Will enable notification and see your results

This “damn bot” is the reason why I have learned trading. It’s different for other people but for me, it’s just a risk I’m willing to take. Are you even sure I’m wasting money? This is a transparent way to share how one person could utilize a bot. This is not my main trading account, this is for people who are possibly interested with using one.

Then again, it’s not magic. There are a lot of factors to consider. It’s important that you know how to trade while optimizing, that’s why I’m here trying to be transparent in the parameters that I use and methods, etc.

Hopefully, in the long run, there would be a great result.  ;)

It seems my call was correct so far because since 19th December BTC started making higher highs, higher lows and finally broke thru $8K resistance with a daily candle close above $8.8K - I'm now expecting a small pullback before it retests $9.5/10K where next resistance is located.
My cross long is already sitting on a sweet +2,000% PNL, so excited to see what's gonna happen next  :)

For me it's hard to believe this move will sustain strength for long. Everyone is ready to dump pretty quickly as soon as we get to any of the last highs. I personaly think this is just a squeeze of shorts that is happening before another series of drops that will get us closer to production costs.


How is it going? I played a little with bitsgap lately but i'm still quite far from giving opinion on it. Also it is just a grid trading pattern..

According to my TA we have already bottomed so from now there will only follow higher lows in front of the upcoming Bitcoin halving which makes me believe we could see $30K~ this summer and six zeroes over next year.
Below $8K is a dream imho, therefore opening now a long with small leverage hence liquidation below $6K it's the safest thing you can do. What could currently trigger the so waited pullback are 1D MA200 and previous $9.2/9.4K support acting as resistance. (where highest volume profile is located according to VPVR indicator)
Just my cents from a 5 years experience in trading BTC and top market cap altcoins  :)

Very curious what happens. I've been here for a few years too and I think this is still too early for big moves. Smart money isn't fighting each other and they understand this is pure speculation. Retail players lost big money in the past 3 years and I believe it was not long enough for them to forget the pain and get the emotional reset before going greedy again. If smart money wants to profit again, they need retail losers. BTC will not get pumped coz it's needed, face it, it's not working as a payment system, so all moves are pure speculation. And as I said, smart money is smart enough to not fight itself in the process. If market makers are out there (and i think we got a lot of reasons to believe so) then they need someone to sell to. And there is no one at this point who will be excited to buy @$10k+.