If you guys have been following for the past two months, I have been doing an experiment with Bitsgap trading bots and see if I make a profit or not. Surely there have been ups and downs throughout the journey, but if you remember last week, I was starting to make a profit again.

I ended at 0.405 BTC last week, which was technically just me recouping my initial investment. Good news to all of you who are following this review though, this week I actually made some solid profit. My balance ended at 0.424 BTC, and I could not have been happier!

It just means that the adjustments that I did last week are actually working, hence my trading volume is also going up. For me, the trading volume is a very good indicator of how the bots are doing. If the volume is growing steadily, that only means that the bots are working as intended, which means there is a steady stream of orders which will give me profit. 

Regarding my profit margin though, many of you who have been steadily following this blog know that I run the maximum number of bots that is available in Bitsgap, and that means 15 bots. Right now, 66% of those bots are actually showing positive income.

This screenshot of my trading window shows that 10 out of 15 bots are actually doing well and is earning me profit. You can also monitor the performance in real-time here.

Adjustments

At this point though, I will be doing some minor adjustments on a particular pair that was the main reason of me losing money a couple of weeks ago. All the others are fine as where they stand as the prices did not really go below the trading corridor and I am fairly certain that those pairs will recover.

The pair I will be adjusting today will be the ONT/BTC pair. If you remember last week’s blog, this was the same pair that I adjusted. ONT does not really want to make any profit, but since it is already there, I might as well try to put the coin to work and recoup those losses.

As of right now, this is the current state of ONT/BTC. I did not put any buy orders last time, so I did not acquire additional ONT coins onto my portfolio, however, the price keeps dropping really fast and it is very hard to find a proper grid corridor for this coin.

Another option I could take is to just cancel the bot and sell the coins at the current market price, but this is not really a good solution as I do not want to incur a heavy loss on this coin. So this time, I will be readjusting it again, moving the grid down in order to find the range that the coin will be traded.

Just like last week, I will be choosing the current price so that the bot will not buy additional ONT coins until it sells the ones it is currently holding. 

It will be the same 20 grids like last week. I will be filling out the 20 sell orders, and it will come up to 274/20 = 13.7 ONT per grid.

Now I will be launching the bot with new settings and a new range. These are 20 sell orders inside the new corridor. Once the bot starts selling the coins it is currently holding, it will start to place buy orders again to follow the trading strategy – sell high, buy low. 

Hopefully, this coin will start making profit as right now I am starting to get annoyed with it. I hope I can be patient with it, however, if it still does not want to generate profit and keep dropping, I will have no choice but to sell it at market price and replace it with a much more stable pair.

Aftermath

This week was really a good one for me. 10 out of my 15 bots are starting to become profitable. I am actually monitoring the progress every day now and I am formulating the plans about the changes I will do next time. Right now, the bitcoin and crypto market is in the bear side and the prices are starting to go down, but at the same time, the bot is still doing what it is intended to do and keep accumulating BTC to my balance. 

I am really like POWR and GNT pairs. These two pairs are my all-stars by making huge profits for me. I do hope some of the other pairs that I have chosen manage to follow the footsteps of POWR and GNT. So I want to have some fun and spice up the current situation.

What I will do next week is I will try to cancel one or more bots from my list, preferably the ones that are not doing well and replace it with a new one in order to find another diamond in the rough. Hopefully, I find another gem like GNT that propels my profit margins on the upside.