Bitcoin

MattL

Well-Known Member
Location
Erda
I've been playing with Profit Trailer and I bought Profit Trailer Feeder too. I have to say I'm pretty impressed. Despite the huge shit the market has taken this weekend, I've still made money. I started with ~$500 trading in this and used that up until this afternoon when I put another $500 into play. I've been making ~$15-$30 per day. So I'm not retiring early because of this, but I'm doing way better than anyone hodling right now :D and I've done this without having to sit and actually trade myself. So much to learn in the trading world with terms, strategies, what to watch, etc.
Ive been meaning to ask for a follow up with the market tanking. Ive looked into the bot a bit the last couple of days, and with BTC dropping it makes the purchase that much better.
In regard to your settings how aggressive/conservative are you. Also on your settings are you running pretty stock or have you tweaked them. I think that $15(3%)-$30(6%) (pending if you reinvested) is pretty good return at this time for doing nothing more than enabling the service and setting it up.

I am with you on learning. Different perspectives, strategies and trying to keep terms, tools and coins apart is huge info overload. There is not enough time in the day to do this and have a family/work life at the moment. Such is life. Just wish I would have taken steps a couple of years ago to learn about this tech. Super cool!!!
 

Caleb

Super Moderator
Super Moderator
Supporting Vendor
Location
Riverton
I'm not convinced my settings are as good as they can be, but that will come as I better understand what the different terminologies mean. I ran it nearly stock for the first night and actually made some pretty good buys/sales. I think it was mostly lucky. I found some recommended settings from a community member that seems to be fairly respected. Those seemed to do quite good. I worried though with the market falling over as it has been, I was going to end up getting way upside down. So I bought Profit Trailer Feeder, which is a bot that adjusts the other bot :D. You define settings for different market types and scenarios and then it will automatically watch the market and make adjustments based on what's happening. Mine's running every 5 minutes and pretty much every run, there are adjustments made. This tool isn't magic and isn't going to be printing you money without you doing anything. There's still a lot of tweaking you have to do and you have to stay on top of things otherwise things can turn sideways pretty quickly. There are some safety measures in place to help prevent that, but with any automation, there's always going to be edge cases you can't account for.
 

Caleb

Super Moderator
Super Moderator
Supporting Vendor
Location
Riverton
So, before Binance decided to crap the bed, my bot was going pretty strong:

Screen Shot 2018-02-07 at 8.16.45 PM.png

I still haven't put any more than the $1000 in, so in a matter of a few minutes it had made almost $33. I'll take 3% profit daily all day long :D. (I had probably 30 other sales yesterday before that but most were under $1profit) Once Binance comes back up, I'm going to move a couple thousand more over for the bot to use.
 

mesha

By endurance we conquer
Supporting Vendor
Location
A.F.
There aren’t a ton. Gemini and Uphold are some other options. You can through Kraken as well.
Thanks, I will look into them. I created a coinbase and got started. About 5 minutes later they informed me they had to close my account. So I guess they don't want me. I was just looking into Bitpanda, but I have no idea?
 

Caleb

Super Moderator
Super Moderator
Supporting Vendor
Location
Riverton
I've never used Bitpanada but have heard they have high fees if you're buying small amounts. That doesn't surprise me about Coinbase. They have some weird situations that will trigger their fraud and instead of just locking the account or flagging it, they close them. If you really want to, you can usually open a case with them and they will reverse it. Their support is really slow though.
 

Caleb

Super Moderator
Super Moderator
Supporting Vendor
Location
Riverton
waiting on authentication from gemini
Goodluck, they are really really backlogged...It'll probably be two-three months :( . If you're looking to do something right now, Kraken account setup is near instant including all the validation. I've never used them but do have an account there.
 

Herzog

somewhat damaged
Admin
Location
Kamas, UT
Goodluck, they are really really backlogged...It'll probably be two-three months :( . If you're looking to do something right now, Kraken account setup is near instant including all the validation. I've never used them but do have an account there.
I have an account at Kraken too. It was pretty quick, couple days to get a higher verification... but just like you I haven't used it yet.
 

nnnnnate

Well-Known Member
Location
WVC, UT
With coinbase I couldn't submit the deposit amounts for verification which I didn't understand. Like the submit button didn't work. I added a card number and it worked though.
 

Caleb

Super Moderator
Super Moderator
Supporting Vendor
Location
Riverton
What do you mean? Are you referring to the value of BTC year to year? If so, it depends on when you entered and sold really. If you bought in at $500, and sold at $9K even though it went much higher, you claim capital gains on the $500-$9K difference. If you bought in at $17K and sold at $9K, then you would claim a loss. It's the same as a stock or any other investment. Where it's going to get interesting is if you're trading a lot. I didn't start really trading till January of this year so I'm not sure what all will be involved but I'll get to find out next year :D
 

nnnnnate

Well-Known Member
Location
WVC, UT
Yeah I guess I just didn't know if it was treated different than stocks. i.e. only liable to pay out when you cash in. For me stocks are put money in and leave it for 30 years so there isn't any tax issues on my horizon. I guess if you are using the bot to buy/sell then thats something that will have to be taken into account. If you roll like @Herzog and HODL then it is exactly like stocks (with more volatility.)

I just didn't know if anyone here had sold at the peak last year and was dealing with this now that its tax time.

I'm only into it $40 out of pocket and I bought in January so no biggie on that front for me.
 

Caleb

Super Moderator
Super Moderator
Supporting Vendor
Location
Riverton
I did sell some last year and bought my truck, taxes hurt a little more this year year, but the truck makes it feel a little better :D . I've been in since ~2013-2014 bought in at under $200 for most of mine when my company started investing heavily in to BTC and cryptos in general. I've continued to buy when it makes sense.
 

Herzog

somewhat damaged
Admin
Location
Kamas, UT
Yeah I guess I just didn't know if it was treated different than stocks. i.e. only liable to pay out when you cash in. For me stocks are put money in and leave it for 30 years so there isn't any tax issues on my horizon. I guess if you are using the bot to buy/sell then thats something that will have to be taken into account. If you roll like @Herzog and HODL then it is exactly like stocks (with more volatility.)
I'm holding because I think it will be the way of exchange in the future and because I believe in the decentralization of it. I believe in the power to take away the control of currency by the central banks (which I know can be debated, I'm not completely blind to the fact that large buy in by central source can control in many ways, but the fact that they hate it makes me like it)

This is not the final form of crypto currency. It's going to ever evolve. Bad ones will come and go. Good ones will thrive. Sounds like say.... a free market of currency! Think fractal.
 
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