I am thinking like if I learn to program a trading bot,
knowing programming is only like 10% of the things you need in order to actually start making profit while trading with a bot.
the most important thing you need is experience in trading and ability to be able to speculate with high accuracy. and also know what to do in difference situations.
- I would try to put limits on loss like 5% then automatically sell the my coins to avoid further loss
- Then program to buy when coin started to raise by 5%
- Put on sell when reached 10% of profit but will buy again if there is a raise of another 5% on the price.
see that is the problem, it looks good on paper but in reality you will face a volatile and unpredictable market. there is a lot of times when they start to pump and altcoin for example but fail that means a very sudden dump right after a small rise. no bot can act that quick (there is delays in executing order, getting the updated price,...)
If there are people who understands what I'm trying to point out here, do you think would that work? Or the figures are a little bit high already. Just want to get an idea about the limits like which is suitable.
it could work but in my opinion there are a lot of other easier ways to make more money trading cryptos.