Hello everybody,
I was reading through all the automatic crypto trading bots. They have thousands of different strategies and complicated algorithms, but it seems i cant find a simple thing im looking for. I would like a bot doing an automatic buy when the price hits 24h low(or near 24h low) and an automatic sell when the price reaches 24h high(or near 24h high). Imagine the profits which could be made simply following this strategy every day. Could somebody please recommend me a bot like this or how to make a bot like this?
I'm not an expert in trading, but I really don't think that this strategy would work. Imagine if BTC price swings between $9500 (24h low) and $10500 (24h high). When price drops to $9499, according to your strategy a bot would then (because $9499 is the new 24h low) buy BTC. And what would happen when price goes further down to $8500 and then rise to new 24h high of $8900? According to your strategy, bot would then sell that BTC at a loss. How is that good strategy?