Cardano will probably go down now

VSYNC said:
No offence, but I seriously, seriously, doubt that's true.

Institutionals getting a reliable 5 - 10% per week with their bots is amazing. You're not getting a reliable 6% per day.
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Here is my most recent ADA bot, I have multiple other ones running other pairs....
 

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KevinRB said:
Here is my most recent ADA bot, I have multiple other ones running other pairs....
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No probs, did you buy this bot, build it yourself or hire someone to build it?

Also, how long have you been running it for, and is 6% an average of backtesting, an average of all traded days, or a rough guess at the average DROI?
 
VSYNC said:
No probs, did you buy this bot, build it yourself or hire someone to build it?

Also, how long have you been running it for, and is 6% an average of backtesting, an average of all traded days, or a rough guess at the average DROI?
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There are a number of crypto exchanges that now provide a wide range of both free & paid bots for crypto trading, this latest bot as previously indicated is just a couple of days old....but I have several others across multiple exchanges using different ADA pairs that are older pulling all very similar results. In terms of backtesting the results from that are typically higher than the real active bot results....

In terms of DROI, I budgeted on it being considerably less than what I am achieving(the original idea came from discussions with @Yoblo)....and maintaining that on a single component coin would be difficult I guess over a period of time....but how many different coins/tokens out there that you could milk short term profits from?.

I didn't post my original comment as an "oh look what I am doing"....it was posted as a tongue in cheek response to the lighthearted nature of the thread....hopefully readers will see it as just that.
 
KevinRB said:
There are a number of crypto exchanges that now provide a wide range of both free & paid bots for crypto trading, this latest bot as previously indicated is just a couple of days old....but I have several others across multiple exchanges using different ADA pairs that are older pulling all very similar results. In terms of backtesting the results from that are typically higher than the real active bot results....

In terms of DROI, I budgeted on it being considerably less than what I am achieving(the original idea came from discussions with @Yoblo)....and maintaining that on a single component coin would be difficult I guess over a period of time....but how many different coins/tokens out there that you could milk short term profits from?.

I didn't post my original comment as an "oh look what I am doing"....it was posted as a tongue in cheek response to the lighthearted nature of the thread....hopefully readers will see it as just that.
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Yeah all good mate, not try to be a prick either. If you've gotten that ROI for a few days then all good. My point is just that algos need extensive backtesting to understand the consistent profitability of them. A few days of making 6% could be based on the price action in the market, or 400 other things that might be completely different next week.

Also, pre-made bots, especially ones given out by exchanges or that are free are never going to be long term sources of reliable profit. The he reason is because each strat gets hugely saturated because some many people are using the exact same strat.

Like I saw that you've got about $400 in that bot.. I'm imaging that if you tried to run it with $25,000 then you wouldn't be able to get anywhere near the same ROI. Likewise running 50 of the same algo with $400 would instantly saturate it too.

Good on you though if you are running multiple bots and making good coin mate... like I said, not trying to come across as a dick, just have a good amount of exp with them.
 
Realistically there's no chance for ADA to take off to the moon, believe me. Circulating Supply made ADA weak.
 
VSYNC said:
Yeah all good mate, not try to be a prick either. If you've gotten that ROI for a few days then all good. My point is just that algos need extensive backtesting to understand the consistent profitability of them. A few days of making 6% could be based on the price action in the market, or 400 other things that might be completely different next week.

Also, pre-made bots, especially ones given out by exchanges or that are free are never going to be long term sources of reliable profit. The he reason is because each strat gets hugely saturated because some many people are using the exact same strat.

Like I saw that you've got about $400 in that bot.. I'm imaging that if you tried to run it with $25,000 then you wouldn't be able to get anywhere near the same ROI. Likewise running 50 of the same algo with $400 would instantly saturate it too.

Good on you though if you are running multiple bots and making good coin mate... like I said, not trying to come across as a dick, just have a good amount of exp with them.
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I am not accusing you of anything....i am inspired by your crypto contributions on BHW, I have learned a huge amount from your posts. :)

Agree with your observations on daily bot profit %....there are MANY different factors that can hugely influence your results, minute by minute, hour by hour & day by day.

Agree with your comments on free bots, but there are also highly credible AI assisted bots that now take a large degree of the "licking your finger and sticking it in the air" out of the decision making process, but even so that does not negate the need for extensive personal backtesting.

Also agree on the saturation of algo driven strategies....but with the number of exchange and coin permutations, I don't think that will diminish the returns in the short term....but the number of folks jumping onto bot trading daily and thinking it is just copy paste profits is mind-numbing.

In terms of the ROI, I typically "bet" $400-$1000 per bot....the results I have seen from others betting considerably larger amounts on the same pairings have been exponentially higher....but I have not studied whether my own range of gambles overall provides a better use of resources....

Anyway onwards and upwards....many thanks for your feedback on my post, and the high value you provide to others like me on BHW.
 
KevinRB said:
I am not accusing you of anything....i am inspired by your crypto contributions on BHW, I have learned a huge amount from your posts. :)

Agree with your observations on daily bot profit %....there are MANY different factors that can hugely influence your results, minute by minute, hour by hour & day by day.

Agree with your comments on free bots, but there are also highly credible AI assisted bots that now take a large degree of the "licking your finger and sticking it in the air" out of the decision making process, but even so that does not negate the need for extensive personal backtesting.

Also agree on the saturation of algo driven strategies....but with the number of exchange and coin permutations, I don't think that will diminish the returns in the short term....but the number of folks jumping onto bot trading daily and thinking it is just copy paste profits is mind-numbing.

In terms of the ROI, I typically "bet" $400-$1000 per bot....the results I have seen from others betting considerably larger amounts on the same pairings have been exponentially higher....but I have not studied whether my own range of gambles overall provides a better use of resources....

Anyway onwards and upwards....many thanks for your feedback on my post, and the high value you provide to others like me on BHW.
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You know I've never really looked into grid trading more than a casual quick look, but it's actually quite interesting. If you're getting good results with what you're doing then more power to you mate.. ride the white horse while you can ;)
 
VSYNC said:
You know I've never really looked into grid trading more than a casual quick look, but it's actually quite interesting. If you're getting good results with what you're doing then more power to you mate.. ride the white horse while you can ;)
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IF you are a long term HODLER....then using grid trading bots can better make your investments work for you as well as increase your overall holdings ;)
 
Please look at coin market cap, not at coin price. Before you invest, think if that amount of money can double. 100x cardano is a LOT of money.
 
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