When it comes to a successful crypto trading bot, there are a lot of questions you can ask, but the best ones are those that will help you make your money make more money!
I’m John. I’m from the great white north, but it’s not that cold in my part of Canada.
Well, let me tell you a little story about my own experience with crypto trading.
Back in the day, I made some money in the bull run of 2017… and I thought I was a real hotshot when it came to investing in crypto.
But boy, was I wrong.
Since then I made all kinds of rookie mistakes, like buying high and selling low, getting hosed by sudden market shifts, and generally just proved that I did not actually having a clue what I was doing. It was a real gong show, let me tell you.
But instead of throwing in the towel, I decided to do something about it. I started learning all I could about copy trading services and automated trading bots, trying to figure out how I could leverage these tools to help me get back on the right track.
How Bots Changed My Life
And you know what? It made all the difference. By using these services and bots, I stopped being so addicted to watching the charts because I knew my bot could stay on top of the ever-changing crypto market.
What a relief.
Sure, there were still some bumps in the road along the way, but I sure stopped having all those horrible days of stress worrying about my trades. And now, I feel like I’ve got a real handle on things (and I’m a lot nicer person to be around).
So, if you’re feeling like a terrible trader yourself, it sucks… that’s for sure, but don’t give up hope. hahaha you don’t have to do the trading!
There are all kinds of resources out there that can help you improve your returns, with copy trading services, automated bots, or good old-fashioned research and analysis.
Q: What is the most successful crypto trading bot?
Finding a reliable crypto trading bot that aligns with a diversified portfolio approach can be a real mess, eh? Especially if you’re new to the crypto game, it can be tough to know where to start.
One of the biggest issues with a crypto trading bot is how volatile the market can be. The price of crypto can dump faster than you can say “double-double,” which makes it a challenge to keep your investments on the up and up.
That’s where a trading bot can be a real lifesaver, bud. With a proven track record of success, a good bot can help you ride the ups and downs of the crypto market with ease. Plus, with a bot that takes a diversified approach to investing, you can increase your odds of catching those unexpected pumps that make crypto famous!
When you’re on the hunt for a trading bot that fits the bill, make sure it trades a wide variety of cryptocurrencies against the same trend following strategy. The long term track record already proved the risk management strategies, and the track recork also proves that the bot takes profits when the altcoin season wave has run its course.
That way, you can get in on the crypto scene without watching the charts all day in case you might be getting hosed by sudden market downturns.
So, whether you’re a newbie or a crypto veteran, a solid trading bot can be your bestie when it comes to investing in the world of crypto. Just make sure you do your homework and find a bot that’s the real McCoy, and you’ll be laughing all the way to the bank, eh?
Q: What should I look for when researching cryptocurrency trading bot?
You’re really looking for a crypto trading bot, aren’t you?
Well, let me tell you, it’s not just a matter of finding the first one that comes down the pipeline. When you’re researching automated crypto trading bots, there are a few key things you should keep in mind to make sure you’re not getting rekt on autopilot.
First off, make sure the bot you’re considering has a strong track record of success during altcoin season bull markets.
You don’t want to be stuck with a bot that’s all hat and no cattle, if you catch my drift.
Look for a bot that has a proven ability to catch market trends and keep those profits. Those two things don’t always come together in the same bot like you think they would… 😉
Next up, you want to make sure the bot you choose has a wide variety of cryptocurrencies available for trading. The more coins it has access to, the easier it will be for it to diversify your portfolio and increase the odds of catching some insane and unexpected moves.
Finally, you want to make sure the bot you choose has a maximum drawdown limit on any individual coin in the portfolio. Crypto trading is proven to be risky business and it certainly will continue to be risky and uncertain in the future. Make sure your bot is going to protect your investments against sudden market shifts and downturns.
So, whether you’re a seasoned crypto pro or a forever-newbie by choice, like me, these are the things I look for when researching crypto trading bots.
Stick to these guidelines, and I’m betting you’ll be able to find a bot that can help you stay on top of the ever-changing crypto market, keep your investments protected and most importantly – gives you back your peace of mind.
Leverage Bot? or Spot Bot?
A guy on our Discord forum asked me
“should I follow a high leverage bot that does longs and shorts or should I follow a spot trading bot that can only buy low and sell high?”
As a long term guy who favors trend following with small positions in a diversified portfolio, I would generally recommend that you consider following a spot trading bot that can only buy low and sell high.
The reason for this is that high leverage bots that do longs and shorts can be super risky, and high frequency short-term trading may also give you huge tax headaches.
Listen up, bud! I say it a lot and people seem to skip over this…
If you’re lookin’ to limit your risk in crypto trading, you might wanna focus on markets that are makin’ bottom formations off of historical lows. These markets have already taken a hit, so there’s less chance of ’em droppin’ even lower.
I’m ok to wait for those bottoms. We only need to double our money once a year so it can sit there doing nothing for months until the right time sets up – and all is good.
Think about this obvious fact, if a market is makin’ a bottom formation off of historical lows, there’s a good chance it’s been oversold and is due for a rebound.
Now, don’t get me wrong, there’s always gonna be a risk involved when you’re tradin’ crypto. But by focusin’ on markets that are bottomin’ out, you can help to reduce your risk and increase your chances of long-term gains.
My Successful crypto trading bot
By doin’ your homework and keepin’ an eye on market trends and current events, you can develop a solid strategy that’ll help you navigate the wild and woolly world of crypto tradin’.
Ya gotta do your own research but start with well known services like BitGet Copy Trading or 3commas for great bot selections. You are sure to find a successful crypto trading bot to match your needs.
