Re: Butter Bot!: New Bitstamp, BTC-E, and MtGox EMA Trading Platform
Lost 10%+ of my funds in one day. uninstall thanks for the $500 loss.
Using recommended settings.
Butterbot buy btc at price x. btc prices drops $180, Butterbot sells at $150+ loss per BTC. Butterbot buys back at high price just below my initial purchase price. 10%+ loss. Better just leaving your BTC as BTC.
Closer to 20% loss.
What we are seeing is extreme movement in the market.
Anybody trading in the market should understand the market, understand EMA and how it works, and make informed decisions on strategy.
Butter is the best bot I have found to assist me in my trading. However, "magic" does not exist in trading, and one still needs to be informed and responsible for their trading. Depending on what your research leads you to believe (nothing but up? Bubble?), you may or may not want to pause the bot in certain market conditions.
In the end, these are traders decisions, and as you become better at it you will make the correct calls more often.
This is a fundamental problem that needs to be addressed. I use another bot that is far superior and gives you the options. This has very little to control your losses in a high volume market.
There are countless trading strategies, and many have proven successful over the years. Anybody that claims to have "the one" or the "only" is conning you. I have purchased/tried every bot I have ever been able to find, and enjoy testing them.
This bot fits best (so far) with the strategies I use. It may not for yours. I would of course recommend using the bot that best fits your strategies.
I do find one thing strange. I am not a member of and do not post in forums for the bots that I found to be less useful. Why would I? I spend my time in the forums and areas that have brought me the most profit. There are those that have been posting recently that could be classified as "detractors". I mostly ignore them, because I am not sure of their purpose. They say things that are either uninformed or intentionally misleading, and I am not sure why. I suppose we can all draw our own conclusions.