This is my first week participating in this. Couple caveats, I transferred to Binance to begin this, so account balance fluctuated as I waited on transfers and got pairs set up, I don’t know if I have good PnL this week to show for it.
I started this with one coin and 500$, transferred some coins over from Mex_Gunthy and hit 0 balance, so had to transfer some USDT to be able to DCA again. Market tanked a bit, coins were brought over bagged, and I let this strategy work to unbag.
You can see where the bot stopped trading because it hit 0 balance in both above.
I am very happy with the activity and general results, am trying to figure out the PnL feature, since Binance and Gunbot don’t agree. Gunbot says I made $116 this week. I will do better at tracking now that my account is fully set up and the bot is working non stop!
This week has been a bit weird because Binance made 2 maintenances that stopped the trading operations for many hours, and in the middle of it, during 24 hours aprox, their server was so overloaded that a lot of multiple buys and sells happened. I see multiple buys / sells affected you, specially at the beginning of the second pic, it’s like your bot turned into a machine gun hahaha
Regarding PNL: My idea was to post both Binance and Gunbot PNL, but I have reached to the conclusion that Binance PNL is useless. I mean, suppose you are trading USDT-BTC and you have 2000$ and 0.10 BTC. Suppose your trades are 0, you do nothing. Ok, if BTC price raises… you have more USDT as Binance just convert the value of your assets to USD.
What happens if BTC price drops? You have less USDT, so you lose even if you didn’t make a single trade? It has no sense. Also is important to remark that in this case despite the value of your assets is a lower USDT amount, BTC value would increase in this case, so it would be a win for some people.
What I think about this? After analyzing it, I think Gunbot PNL calculation is much better as it just calculates the profit / loses when a trade is closed. If we are trading USDT-XXX our goal is to increase USDT, so when a trade is completed, it calculates the USDT profit / loss. In my opinion, Gunbot PNL calculation is the way to go.
Nice profit. I have seen some people saying “my bot is only using 20% of the funds, I’m going to increase TL”. I know it’s tempting, and increasing TL 2x = increasing profit 2x BUT medium-large dumps happen from time to time. And once alt seasson ends, I think a lot of alts will suffer huge drops. Just saying IMO is better to be ready to handle big dumps. Also note that after big dumps, the profit you get when closing the cycle is much higher.
Agreed, at 11AM yesterday everything dumped and my bot fully utilized all reserve funds bagging up. I only made 48$ yesterday. Bot started trading today with a few coins that came back but the rest of my coins are still bagged. Currently looking at $120 today earned by some of those coins making big profits due to the dump. I think I’m going to just leave TL where it’s at and let it build reserve funds so I can CT once we get into tighter markets.
Just to follow up, I haven’t transferred any money in, and the bot has been pretty tied up with bags due to things tanking. Some coins were able to clear their bags, and I set them to stop selling and use those funds to help DCA, but it’s looking like I’m going to have to bring in some funds to get out of these bags or just wait it out. Got a bunch of -20% positions to have fun with, definitely lowering the TL again to have some funds in reserve for DCA going forward.