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Crypto - Bots - my Journey - (10% per month min.)

mjbarlow

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This is actually really cool, the crypto market is the wild west, so there definitely must be inefficiencies and money to be made. It seems like the bot strategy is to buy into over-sold conditions and wait for a rebound then sell?

As shown by your screen-shots this can result in you bag-holding the coins when the they keep going down, as your strategy is never to sell losing coins? What happens if the coins keep going lower? you never sell at a loss?

Surely the fastlane approach would be to set up your own crypto bot-building guide, videos etc, that guide people on how to do this, then sell that course or a related products. Basically sell shovels.

I'm following!
 
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PlastikMan

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Hi Cryptocurt how is your bot strategy panning out? I am interested in seeing your continued results. I have adopted a similar strategy to yours and it has been working well for me. Averaging 10% month on month.
 

pat9000

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Crypto bots are pretty sweet.

I actually made a bot for fun last year and then in April I created an excel sheet to track its performance just out of curiosity.

I pull the balance once a day and put it into my sheet which pumps out an average price. I do think holding performs better but this is pretty fun.

1634414815947.png
 

CryptoCurt

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Hey @CryptoCurt

How is your bot doing, brother?

I wish you could give us more feedback!
Hey - sorry for my long absence.
Feedback is coming....
Overall, the bot only makes serious money, as long as we are in a bull cycle. During the whole downturn that we see the last months, bot is in the deep red and will take some months to get back into the green.
I will shift more to hodling in this situation.

This is nothing new and some people told me that upfront but i couldn't believe it.

New idea was to use an arbitrage bot, which makes money through trading on different exchanges.
What i found is, that you need to put 1 Mio. EUR into it to make a living from arbitrage bots. Soooooo, maybe in the near future :cool:
 

ericaung

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now seem its rebound back! howis ur bots doing
 

CryptoCurt

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now seem its rebound back! howis ur bots doing
Hi, i had to sell 5 positions with 50% loss.
I created a new rule to close all positions after 120 days.
This frees up capital but of course kills $$$.
Lets see.
 
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Sega Saph

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People, this thread it Ia evidence of MJ words. DO NOT TRY become rich by crypto, do it through your business and self improvement.
A huge pice of experience you showed us, sir. Thank you so much!
 

CryptoCurt

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People, this thread it Ia evidence of MJ words. DO NOT TRY become rich by crypto, do it through your business and self improvement.
A huge pice of experience you showed us, sir. Thank you so much!
Well it was intended to show success. But I am glad that i documented the journey, either way. Thats why we are here right? To show what worked and what not.
 

mksa22

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Well it was intended to show success. But I am glad that i documented the journey, either way. Thats why we are here right? To show what worked and what not.
I've been trying this bot thing since November. Which means that I have not been fortunate enough to experience a bullish period.

In my experience 10% per month is quite possible, in my case I take more risk and use leveraged tokens.

What does this mean? Let's use Solana as an example

- If Solana goes up 10%
- My leveraged Solana token goes up 30%.
- If Solana falls by 10%, the value of my leveraged token would then be -30% (so basically i m losing the 30% of my capital doing that)

In these months when everything is falling, you can create inverse bots that when the market falls, they increase in value.


I have been reading a lot of problems about this type of bots and it seems that the biggest problem is :

1 - The bots work well until the market drops (this can be solved with : choosing good coins, having inverse bots and PATIENCE... and this patience thing only works say top 30 tokens)

2 - Taxes (This factor you can control if you live in a low tax country or without taxes.... here we have enough control)

3 - Take Profits : It's funny how there are programs out there that talk about never sell and hold (this is a strategy and is fine) but in the case of Bots, you have a daily profitability... and in my case I use leverage which means my daily profitability can be very high but I know that the value of the token can be one day at +20% and the next at -40%.... (here the importance of not choosing new tokens or tokens out of top50)

I have only had one token that has never recovered and it was "Luna" but at the same time in Luna I had an inverse bot betting downwards (and there I recovered everything I had lost in the normal bot and even with benefits).

4 - Stop Loss : Well if you are choosing good tokens i dont recommend to use stop loss (because the idea is have patience and wait)

5 - Psychological Problems I believe that if most people really lose money it is because they can't control their own mind.

In this case I must admit that I was like that, but I had some time managing advertising campaigns, especially on fb... and this changed my mentality a bit regarding the importance of seeing results with a long-term perspective.

Basically I was one of those who closed a campaign if I had no sales in 3 days because I was losing money... with time I learned that even if the first 3 weeks everything is lost it does not necessarily mean that the results in the fourth week can not make that campaign good.

It's a little complicated to explain but I'm sure that those who do advertising campaigns can understand what I mean.


-------
The topic of getting rich through entrepreneurship I think has some bullshit and a lot of positive marketing

It is true that the main way to build wealth is through a business but it is not the only way and each person should have some self-knowledge of who he/she is and what he/she wants.

Building a business is not easy that is the reality and the vast majority of businesses will fail .... very few will be privileged to become the next google or facebook.

On the other hand, I think we need an analysis of what an entrepreneur needs when building a business.

- Solve a problem or entertain (let's be honest there are products that solve real problems and that really don't need almost no marketing to attract people... for example curing cancer and others that really don't have a utility that we can consider very essential) like the fashion business.

- You will need to put your energy, time and money into it and there is no guarantee of success.

- Finding talent and managing people : As mj marco himself mentions in his book, this is not at all passive and can give you a lot of headaches.

- Regulations and taxes : This varies from country to country but can be very cumbersome.

- Knowledge : Let's be realistic, every industry has a very specific set of knowledge and it takes time to get it. On the other hand finding experts that you can hire and that will do a good job.

In conclusion ... the reality is that many paths can lead you to get rich ... some with more chance of success than others and everyone should do some introspection work and in a way try both ways until you know what fits better.

I personally believe that there are quiet investments (which will not make you rich... and are the typical ones recommended).

- Bonds
- Investing in index funds
- Investing in stocks
- Real Estate (Personally I don't understand people who like this way of investing... I see a lot of headaches and in my case I would probably rather start a business than deal with this investment)

These are the basic ones and the ones that are recommended to earn 8 - 10% per year in the long term. And as Mj mentions in his book... of course you will be a millionaire but at a very late age with this form.


Then there are other more interesting ways in my opinion

- Pre-IPO : The problem is that it is so regulated that not anyone could invest here.... but this is still the equivalent of starting a business... it is putting money in a company in an industry that you like, that has a team of people prepared and with future projection (You can lose your money...). Sure, but you can also lose it if you are the one who creates the business.

- Crypto: The same is high risk and high profit but the difference with the first option is that it is not so regulated and anyone can access this investment.
 
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