and 1% daily means that if i start with 1btc after around 100 days i would have 2btc right?
I'm just a user but your post caught my eye. The 100% in 100 days scenario oversimplifies things in various ways. For example, if it were 100 days of a bear market, with prices constantly falling, then there could be no "sell" opportunities, thus no sales, and thus no profits. Also, the bot will do whatever you tell it to do. Think of it as a way to avoid the boredom of sitting in front of your trading screen 24/7, rather than as a magic money-making box. If you tell it to do things that result in losses, then you will lose. Put more bluntly, don't trade unless you have some confidence that you know what you are doing. The Gunbot comes with a lot of settable variables - you will have to choose the settings and live with the results - it's not magic, but it's very much worth using if you want to trade crypto. One of its many strengths is that it will follow the strategy you specify despite changes in the emotions of the moment, despite emotional news, FUD and the general noise of the marketplace. It does not have the human weaknesses that typically cause us to make bad (emotional) trades. Finally, remember that it is set to trade crypto pairs, say
BTC vs. some Altcoin - it will normally do so without regard to the ups and downs of fiat. If you're used to measuring profit/loss in terms of fiat, this takes some getting used to.
Good luck!
Hi,
without going too much into details, it is not entirely correct. You can easily even do profits in bearmarkets. It is pretty much the situation we have since the beginning of the year and with doubleup it is not too hard to make 1% a day.
How is that possible? Doubleup will average down your overall bought price, and since no market goes straight down without rebounds, the bot can average down and sell at profit with every rebound. Actually I even make the bot average down in uptrending markets, to maximize the profit. The profit taking is set in % and a trade with 5% of an averaged position will yield more, than a trade of 5% on a position that was bought low and didnt average before it got sold. Ofc you could easily raise the trading limit, to make more substantial gains in bullmarkets, BUT you still should be able to compensate that tradinglimit if the market turns around.
cheers,
br41nbug
I don't dispute your point but you've based it on a different situation than I offered. You've referred to a real-world bear market in which there is still occasional upward momentum - the classic "yo-yo operated by a person descending a staircase". I tried to draw a newbie's attention to a situation in which there is only downward momentum. I assume we are in agreement that the bot can only profit (sell high) when there is upward momentum. The length of a period of only downward momentum is unpredictable, which is one reason a newbie should not think they have a magic money-making machine.