Trading bots have grown quite popular in recent months, with Profittrailer leading the way by far - they now have over 11,000 users and rising. Bots are actually welcomed by exchanges like Bittrex & Binance as they increase volume and liquidity.
Profittrailer costs 0.03 BTC per license and they currently give them for Bittrex, Binance & Poloniex. Given a lot of their nearest competitors charge almost 3 times as much and with the recent dip in BTC value this may be a good time to buy if you are interested in getting into a trading bot. You can use it with BTC, ETH, USDT & even XMR (on Poloniex)
OVERVIEW
I am running my Profittrailer on a VPS, which allows the bot to run 24/7. It has an excellent user interface (GUI) - you can see a running demo here:
Password: superSecret
https://demo.profittrailer.io:8443/monitoring
I initially started with 0.025 BTC and added a little to a total of 0.04 BTC capital - this is quite a small amount to begin with to test the bot, but it is totally ok and will make a profit even on low balances.
I have been running the bot for 12 days and made about 1.6% daily during the first 10 days by letting the bot trade a maximum 4-6 pairs at any one time. I am running a strategy called Anderson DCA which in effect buys double if the price drops below a certain loss percentage which means your buy price is kept as low as possible and gives you a greater chance of getting a profit quickly.
Most people set their profit wanted at 1% but the great thing about Profittrailer is that it won't sell at that 1% profit if it detects the price is continuing to rise. Virtually every setting can be tinkered with and adjusted to your taste and there are lots of other strategies for both buying and selling as well as the one mentioned above.
Profittrailer will switch to sell only mode during a downturn or fast spike in the market, again according to your settings.
Now for the downside...
Profittrailer does not have secret mystical powers that will save you in the event of a total market crash like the last few days. Here are a few of my 'bags' currently held.
So in situations like the last few days, you can expect ZERO profit days with a low balance because you do not have enough money to allow the bot to DCA multiple times to keep your negative profit reasonable. The only thing to do is wait it out, until the market corrects.
The bigger your balance to play with the better (as always, right?) and if you have 1 BTC you can expect $100-200 days of profit. I think the absolute minimum to get the best out of Profittrailer is 0.1 BTC
If you want to check it out (and I am not an affiliate) you can do so at:
https://profittrailer.com
If you are interested in how to set up PT, or want to let me know your own results & settings etc please leave a comment.
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hey there! i have been using it for a couple of days now, but still my sales are low, even having arond 0.5 btc to play with...are you using it?? thanks!
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Still using it yes... are your settings too conservative maybe?
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Great article. Thanks for your point on minimum capital to be successful
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Profit Trailer doesn't look to be profitable at all.
Why does Profit Trailer lose BTC and the profits it shows keep going up? Actual BTC amount goes down while daily profit percentage seems to be going up.
Can someone please help me understand Profit Trailer trading strategy? It seems to only lose money.
Using BTC as a base coin (not even comparing to USD yet) then the object is to earn more BTC by trading alts. Only you get bagged up if BTC goes UP OR DOWN! I understand settings are important and you have to stay on top of them adjusting all the time. I am not talking about that.
In order not to get bagged up you have to keep only a small amount in Profit Trailer trading at any given time. Which means, if you can get it to profit, those profits are very small. And you could just buy and hodl BTC instead and come out ahead without Profit Trailer.
It seems Profit Trailer could only make money if BTC is going sideways on any settings. There are people who publish their earngings all the time. And their BTC amounts just keep going down while their daily earnings showing on the Profit Trailer are going up. That simply doesn't make sense.
I guess I just don't understand how Profit Trailer could ever be profitable?
Is anyone really making a profit on Profit Trailer over a few months time (not just the first two weeks they turn it on)?
And where/how do I get those settings? I have already tried several different settings on multiple bots over the last few months.
Can anyone help with something better than, "Yes, I profit. You just have to figure out good settings on your own by tweaking Profit Trailer yourself."
Otherwise, if you have to keep adjusting Profit Trailer all the time on your own then you might as well just trade BTC manually. It would be easier.
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