If you have been reading this series of posts for a while, then you would be well aware of my experiment with Bitsgap crypto trading bots. For those tuning in just now, it is all about our shared curiosity to check if anyone can turn a profit using this automated solution. It was mostly a ride full of fluctuation until last week. But then I actually made a noticeable profit and things picked up from there.
The experiment has only gotten more exciting since then. Today, I am back with updated stats, new findings, and reports of some changes that I made to the bot. We will see how they turn out in a few days. But for now, let’s go ahead and see how my investment fared in the past week.
Quick recap from last week: We had closed the week with 0.424 BTC laying on the balance with 0.024 BTC in profit. This week, our positive streak has continued with a total balance of 0.442 BTC (+0.018 BTC).
It might not seem much. But the way that things have been going, I would deem this as a solid growth and hopefully the start of many upward ticks.
The current increase in profit also points out that the profit I made last week wasn’t a fluke, but it follows a consistent trend of growth. The trading volume indicated through my bots is also showing a consistent trend of positive movement.
Almost all of my bots are in profit and some even have 0% as Unrealized profit, which means that the bot has sold all the coins, made profit, and waiting for the price to go down to buy again.
Previously I had an opposite issue, where the price went down and the bot was holding coins. The current scenario is far better, as I can fix the profit and re-launch, cancel or replace the bot with confirmed profit.
Here is a list of the 15 bots I run from here. You can always check them in real-time. The following screenshot shows how a majority of the bots show solid improvements, especially when compared to their performance in the past.
As shown above, a majority of bots post very positive improvements. But perhaps the most prominent of them all is the GNT/BTC pair. Just look at the stats: 63% of
Thankfully, for my own good, this is all very real and happening in real-time for us to watch. This coin has left the upper border of the grid, but I will leave it as it is as the price will probably move back soon. If not, then I always have an option to fix the profit and re-adjust the trading corridor.
If you remember, last week I also promised to replace one bot on a weekly basis to check the ones I haven’t set up yet. I will do it every week in order to find another gem like GNT.
Today I will cancel IOTA/BTC bot, and fix its profit (around 15%). The following image highlights how the pair looks now. As shown in the image, it is not that stable, which is why I decided to close this particular pair.
Closing this will give me the opportunity to try almost the same mechanisms with another cryptocurrency pair. It will also show me if I can make more profits with the same methods but another trading pair.
This will help me zero down on further issues and let me determine if I can make profitable trades with different trading pairs even if they are running on the same settings.
This is the overview of the performance: 0.004 BTC in profit for almost 3 months. That’s really not much to write home about, especially when you see what can be achieved through pairs such as GNT/BTC.
After I cancel this bot, I can see 0.087 BTC on my balance to re-invest with a new bot. Here we have the profit from the IOTA pair as well as the profit of all other pairs.
Keeping these factors in mind, I now want to launch a new bot with a USDT/BTC pair. This pair will accumulate me USDT or BTC, and I find that both options are good.
Since USDT is a stablecoin that has its value tied with USD itself, and Bitcoin has the highest trading volume of all cryptocurrencies, trying out this trading pair comes with certain benefits that I can’t find with altcoins.
This way, I will not need to acquire any altcoins which I don’t want to hold. That’s another benefit of trading with a pair that puts BTC against another popular asset or a stablecoin.
Another thing to note here is that I have configured a large trading corridor. This means that the bot will be working between 7600 and 8800 USD.
That’s a huge grid and the idea of this is to make a stable but small income. I will keep this in mind, test this strategy and let you know of the detailed results next week.
Coming back to the overall trading pairs and the results they have accumulated this week: the bot has shown pretty good results on the bear market. When the price of BTC went down, all the altcoin to Bitcoin pairs stabilized and started to execute a lot of orders and this is exactly what I need – more deals to be completed.
I will be going through the new USDT/BTC bot that I set up this week and accumulate the results as I notice them. With that, I will also keep an eye on the other bots to see how they are performing with their updated settings. That is to say, if they keep performing with noticeable improvements or falter unexpectedly.
I will also look into the performance of bots that are performing the most poorly among the roster of 15 trading pairs. Like I did today with IOTA/BTC, I will be adding another trading pair as the replacement of one that has generated the least profit for me.
Needless to say, it is becoming more exciting day by day. I look forward to what next week holds for my bots and the results they will generate for me.