Hello there all of the followers of my blog. I do apologize for not posting any updates for the entire month of January and half of December. The Christmas and New Year celebrations took a lot of my time and since it was technically the holidays, I decided to award myself a little rest and relaxation.
However, I do have some good news for all of you. I just hit an all-time record with this week’s report! This week’s Bitsgap bot performance completely smashed the previous records that I have. Now, let’s not keep you guys waiting and let me go into detail on the bot performance.
The Nitty Gritty
Like I said earlier, we have broken the previous record that was set around mid-November. If you remember correctly, I hit an all-time high around the middle of November when the balance hit 0.466 BTC, and it got stuck there all the way up till the final report I did during December.
However, just earlier, the trading bots made a breakthrough and finally hit above that. I am currently sitting at 0.4848 BTC. It is a 0.018 BTC increase since the last report and I am really happy about it.
The other thing that somehow stands out here is that the trading volume I did for the past 30 days is really not that big. I think it is due to the fact that the price of Bitcoin the past month somehow hit a plateau. This trading volume will grow faster though now that the price of BTC has picked up in the past few days.
The other good news that I want to talk about is that all of the 15 bots are showing a positive profit. Granted some have more profit than others, but overall this makes me very happy since I am making money.
The Finer Details
Now let’s head over and take a look at the finer details. Out of all the bots, there are actually 4 pairs that currently have no unrealized profit. This means that these bots have already crossed the upper limit and sold the coins the used to have.
I will keep these bots running because more than likely, they will return to the original trading corridor it was at after the BTC price correction. These 4 pairs are ONT/BTC, LSK/BTC, EOS/BTC, and BTC/USDT.
The other pairs that I have are currently being traded inside the price range it was set in and it is raking profit in. This is exactly what it should be doing so I will be leaving them alone. If it ain’t broke, don’t fix it.
And now for the grim news; the trailing feature does not really work well on usual pairs. It seems that the trailing feature is only good for the market that is steadily growing.
However, the market right now is at a standstill, so the feature does not work as it really is intended to be working. According to the results that I got from the three pairs with the feature on, it is much better to keep the bots working with the trailing feature turned off.
I will exactly do this for the LINK, NEO and the ZRX pairs. What I will do is re-launch these pairs with the trailing feature turned off. For me to be able to do this, I will need to cancel the current bot and then create a new one with the same balance that it has. All the other bots will look like this LINK/BTC one after I re-launch them all with trailing off.
Now I have made all the adjustments necessary for the bots to continue working in optimum performance. That means I put my whole bankroll to work, with bitcoins being booked for buy orders and the current altcoins I have set to sell when they hit the limits.
I still do have $323 available at the moment. These consist of the altcoin “dust” and the BNB that I use to pay the exchange fee for the order execution.
Like I said earlier, this is the biggest balance I have in my account from when I started this experiment half a year ago. If I do the math, my balance has increased by 21%. Remember, I set out with this experiment starting out with 0.4 BTC. So, let me ask you guys a question, is this a nice profit margin given the time elapsed and the amount initially put in?
I think if I have spent more time managing the bots closely and also skipped the trailing option back in October, the balance would be way bigger. Doing that much work, however, strays far from the original reason I set out with this experiment. On the other side of the coin though, if I never started out with this experiment with Bitsgap, I will never see that 21% profit if I just held on to my bitcoins.
I will make a deal with you guys though. I will keep running these bots up until I hit the 0.5 BTC margin on my balance and then finish this experiment. To be fair, it is not that far off from the current balance I have.
After that, I will be moving the balance to another trading solution and repeat the process again and see if I can make a profit on it. So see you guys on my next report which will happen when I hit the 25% profit margin on it. That will also be my final Bitsgap report so I could find a different platform to transfer my balance into for testing and repeat this process all over again. Fair winds to you all!