Altcoin Opportunities

Tag: auto trading crypto

  • Crypto Copy Trading

    Crypto Copy Trading

    A simple and easy way to trade digital assets. Step-by-Step Guide to Crypto Copy Trading on Bitget. Elite Trader Leaderboard review.

    Crypto Copy Trading Guide for BitGet

    In this post I’m going to review some of the Elite Traders Leaderboard.

    I’ll start with a focus on spot trading and I’m going to look for top performers in the past three months then I’ll drill down into specific profiles to find someone who is doing a good, diversified, trend-following strategy.

    There are top performers who focus on trading one market with futures long and short – but I’m going to focus on something longer term and without the added risks of leverage trading.

    This list will change all the time and I’ll be posting more reviews of the top copy trader profiles.

    What Can We Learn About The Traders We Copy?

    For example WhaleYouGo shows a great listing rank for spot trading.

    Let’s take a closer look at the profile:

    I’m seeking a diversified approach that trades each market very seldom, while WhaleGo_YouTube is taking many small positions and taking profits.

    I can’t comment on the trading strategy but that it’s not what I’m seeking.

    I have a personal preference for a strategy that is diversified when altcoin season is approaching. So there may be a phase when my positions are only held for a short time.

    This screenshot would have demonstrated better data for me if I had looked at the 6 month view.

    WhaleGo_YouTube 97% Win Rate

    Well – the 6 month view shows a very consistent winning strategy – gaining small profits on the close… holding till the trade is just in profit?

    I dunno – but some of the longest hold trades
    COULD have been the biggest winners. No?

    Can’t argue with the Win Rate?

    Top follower traded 60k volume and made $1.2k

    I’m pretty excited now I can really dig into the history of the copy trade accounts I’m reviewing.

    Let me check a few more.

    Hmm.

    Profile after profile has the same quote ‘Earning money now, too busy to talk‘. And all of them are focused on trading one single coin and showing an algo-trading pattern to the profits.

    For example:

     ➤ ➤ AlgoTrader1337 has 50/300 followers and is trading BTC, APT, MASK, AGLD, RNDR and others. Nice actually. Diversified and great win ratio.

    AlgoTrader1337

     

     ➤ ➤ CryptoTrader has 13 followers and trades a nice diversified range of coins and I also like to see the pattern of trade volume. This system is different than my approach but clearly profitable. I like it!

    Setting Up Copy Trading

    Get Started Here

    As I’m poking around and getting familiar with the platform, I’m learning more detail about how the Copy Trading works:

    1. Checking Out the Top Players: Think of this like checking out the stats of the best players on a sports team. You get to see how long they’ve been playing (that’s the “Registration days”), how many fans they’ve got (“Followers”), and their score average (that’s the “Return on Investment” or ROI). Plus, you can see their wins and how often they win (“Profitable trades” and “Win rate”).
    2. Setting Up Your Game: Now you’re ready to play. You pick the top player you want to follow and decide how much money you’re going to play with. It’s a bit like choosing your gear before a big game. You can pick the easy setup (“Common settings”) or get into the nitty-gritty if you’re feeling brave (“Advanced settings”). And just like in a game, you’ve got to know when to stop – that’s your “Risk control.”
    3. Keeping Score: Once you’ve started, you can check out your dashboard to see how much money you’ve put in (“Invested principal”), what you’ve made (“Net profit”), and how your current trades are doing (“Current copy trades”).
    4. Changing Your Strategy: Say you’re in the middle of the game and you want to switch up your tactics. You can go back to your dashboard and make changes. But just like in a game, you can’t change moves you’ve already made; you can only change what you’ll do next.
    5. Cashing In or Bowing Out: Finally, when you’re ready to take your winnings or cut your losses, you go to the “Spot” page. It’s like going to the bank or leaving the casino – you’re either putting your money in your pocket or walking away to play another day.

    It’s all about using the wisdom of the pros to make smarter moves in the crypto world. Just like in school or sports, it’s about learning from the best and using that knowledge to get ahead.

    Spot Copy Trading

    Unlock Effortless Trading with Bitget!

    Want a simple and easy way to trade digital assets? Introducing Bitget Spot Copy Trade—an easier and faster way to get your copy trades filled at low slippage prices. Here’s how to get started in three simple steps.

    Step-by-Step Guide to Copy Trading

    After logging in, hover over the Copy Trading tab and select Spot Copy Trading. Choose a trader and select Follow.

    Customize Your Trading Strategy

    Click Edit to select your spot trading pairs. You may also choose Fixed or Multiplier modes. Set your fixed or leverage amounts and risk management parameters. You can even toggle the Advanced Mode to adjust the parameters for each spot trading pair you follow.

    Finalize and Profit

    Once done, tap Next. Confirm the parameters that you’ve selected for each trading pair and select Confirm. Congratulations, you’ve now successfully copied a trader. Ready to profit? Spot Copy Trade with Bitget today!

    And that’s the gist of it. Check out the official docs to get more detailed mumbojumbo about Bitget Copy Trading.

  • Where can you find a successful crypto trading bot?

    Where can you find a successful crypto trading bot?

    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?

    Finding a successful crypto 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.