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Starting with Gunbot: Basic tips

A very common question is “What are the minimum requirements to run Gunbot?”. Old Gunbot versions needed a high amount of RAM memory, but latest versions can be run even on older computers, as far as you are running a 64 bits OS, which is something very easy to meet, especially if your computer is not older than 10 years.

The first step is to purchase a Gunbot license from a trusted source like Gunbot.shop, so you will assure you will get very good service and support.

So, computer requirements are very easy to meet, what some people forget is about the minimum knowledge needed in order to be able to run Gunbot successfully. Mainly there are two important things:

1- Basic computer knowledge: The installation is very easy and we have step by step videos and tutorials. You only need basic computer knowledge, we are not talking about coding knowledge, we are talking about basic skills like download a file, uncompress a file with Winzip or Winrar, load a link on your browser etc…

2- Understand what crypto trading is: It should be something obvious. Why would someone try to earn money from something he doesn’t understand? It’s ridiculous, isn’t it? Well, I have seen some people in this situation, saying things like:

a) The bot is running since 10 minutes and it didn’t make any trade. It doesn’t work.

b) I started running the bot yesterday and my balance was 0.50 btc and now it’s 0.4987 btc. What’s the problem?

c) My bot is doing profitable trades but despite of that, my btc balance is dropping. What’s happening?

If you don’t understand why these sentences are ridiculous and they have been written by someone who has no idea of what crypto trading is, then you should trade manually yourself for at least 2 weeks and come back when you have an idea of what crypto trading means. Just to make it clear, I will explain it.

a) The bot is not a drunken teenager with a credit card, the bot is meant to execute professional trading strategies, that is, PATIENCE is the key. I don’t know any successful trader who purchases anything at any price, under any conditions. Obviously the bot will only buy when the conditions set in you config file are met.

b) Anyone who has traded manually, knows that crypto market is very volatile, and it’s always going up and down. Everyone, human or robot, has winning days and days with loses. If someone is surprised because he had 1, 2 or 3 days with loses… he has no clue of what crypto trading is.

c) For example, if you use BTC as base coin, you can buy a coin for 100 and sell it for 120 and at the end of the day it’s possible to have less funds that at the beginning of the day. Why? Because when doing trading, you buy other coins, and those coins could lose relative value against BTC, so your “Estimated BTC value” amount could be lower despite every single trade has been profitable. Anyway, there isn’t a loss until you sell a coin. Anyone who has traded manually should know it.

Note that we are not talking about deep trading knowledge, there is no need to know about advanced trading indicators, just to understand what you are doing.

Ok, said this, let’s talk about some tips / advices. Note that I’m not a financial advisor, just a guy who started using the bot and succeed, that is, just another guy who is getting profits with the bot. There are a lot of people out there getting better profits that me. I just want to share the things I learned and helped me to improve my results. Ok, let’s go:

1- Your attitude is very important: I have noticed that active people have better results in the mid-long term. Some people don’t even want to read a manual or spend some time learning, or just choosing pairs to trade with. My advice: don’t be lazy. There are lot of tutorials and videos to learn from. You will learn much more if you learn yourself, especially if you enjoy doing it. In the case you bought Gunbot from gunbot.shop and you have access to our Vip Zone and our support team, we can help you.

2- First things first: Where to start?

a) First of all, it’s important to know how Gunbot licenses work, and how to change your API keys

b) Pair selection is one of the keys. Take a look at this basic pair selection tutorial:

https://gunbot.shop/basic-pair-selection-for-trading-with-gunbot/

c) Here you have a video that explains step by step how to install Gunbot: https://gunbot.shop/video-gunbot-xt-v6-0-1-presentation-and-installation-tutorial/

3- Exchange selection is important: IMO right now Binance is the best choice. Why? Because it has the highest volume and the lowest fees.

4- Try to save fees: Sometimes we don’t give importance to fees because we feel it’s a very small amount. Many Exchanges deduce between 0,20% and 0,30% for each trade, and considering the amount of trades Gunbot does, it’s a lot. Remember Binance has the lowest fees (0,10%) and also you can buy BNB (Binance coins) and you will reduce by 50% those fees. The difference between 0,30% and 0,05% is HUGE.

5- Do it easy: Don’t try to do things you don’t know how to do. The ideal scenario is to customize Gunbot to automate your trading strategy (in the case it’s a successful one, of course). In the case you are bit lost at the beginning, maybe you prefer to start with Emotionless, which is the easiest one to configure.

6- Start low: Some people start trading with 0.01 btc and some others start with 4 btc. The bot can handle any amount, it’s your choice. What I recommend, as always, is to use common sense, that is, start with low amount until you understand how the bot works and you have tried several settings and you know which one is the best for you.

7- Enjoy learning: Gunbot has a learning curve. It’s very easy to install and leave it running, but is hard to learn how to get the juice from all the advanced features. “Easy to play, hard to master”, you know. Ok, maybe it’s not that hard, but it takes time to learn. You can read about Gunbot strategies and parameters here:

https://gunbot.shop/vip_category/strategies/

8- Focus on important things, don’t waste your time: Try to avoid checking bitcoin price every single minute. Don’t spend 2 hours / day watching videos about crypto news, just subscribe to 1 or 2 channels where you can get important info etc… Same for Telegram, Twitter and other networks. You don’t need 20 groups or news sources.

9- There isn’t a magic setting: Some people think they will earn money just by pushing a red button. I have been getting profits online from many different sources since many years and I can assure you the magic money printer doesn’t exist. Gunbot is an amazing tool that allows you to get profit with low effort if you focus your work on the right way and you use common sense. Don’t try to find a magic settings for any market conditions. The best would be to have different settings for each kind of coin and market conditions. For example, classify the coins on 3 types: shitcoins or very low value coins with high volatility, strong coins like ETH, LTC … Also note that the most important thing is to have different settings for each market conditions: Bull market, Bear market, sideways market

10- Learn to find solutions: It’s normal to get some errors, questions or problems when configuring or running Gunbot. Do not give up!! The way to succeed is the persistence. We have a have a blog with interesting tutorials and fixes for common errors and problems. Also on Gunbot.shop Vip Zone you will find detailed information about the parameters used by all Gunbot strategies, special tutorials and ready to go settings shared by members of our community.

11- Don’t suicide yourself: As you should know, it’s much harder to get profits during a bear market, especially if you are a novice trader and / or a bot that knows nothing about external news affecting the market. Do not trade during bear markets, especially when external news are affecting the market (BTC forks etc…) if you don’t know what are you doing.

12- If you want to try some settings, GIVE IT TIME: I have seen some people changing settings and / or pairs 47 times per day. You will waste your time, you won’t get any valid conclusion and you will drive the bot crazy. If you really want to try some settings, leave it running for at least 1 week or 10 days and compare results under same conditions. For example, suppose you have 2 Binance accounts and a friend also has 2 accounts at Binance, you can run 4 different settings using the same pairs, during the same period of time and following the same plan, that is, same bag management, same time to start / stop the bot etc… Then you will get valid conclusions on what settings performs better.

13- Follow a plan: Don’t let your emotions control your actions. On my experience, taking decisions under pressure is not a good idea. It’s better to define your plan and follow it. Maybe you will decide to change some things later and redefine your plan.

Ok, but how to define my plan?

First of all, you need to define the amount of time you want to spend. Obviously if you change your pairs every week, most likely the results will be better than doing it every 2 months. Same applies for addapting the strategy. For example, I know some Gunbot users who spend 30 / 40 minutes day addapting the settings for each pair, so Gunbot will execute the same buy and sell operations they would execute trading manually, and some of them are getting excellet profits. On the other hand, 30 minutes may sound like “ohh, so much time”, yes, but doing it manually it could take 12 hours!! On the hand, a bot doesn’t need to eat or sleep :)

Anyway, as I said, you can define the amount of time you want to spend. In my case, I don’t have much time, so my plan / strategy requires almost no time.

In this link you will find my plan / basic strategy when running Gunbot (link only available from gunbot.shop users with access to Vip Zone)

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