@hackbyte

As discussed, uploading the screenshot here.
http://prntscr.com/gkntqd

Can you please answer the questions in the screenshot.

Btw, in the screenshot the question 'What is this blinking line?' incorrectly points to the blue line. I intended to point it to he green line (next to Eff gain*= 0.16%) which keeps blinking?

Thank you hackbyte. Much appreciated

One would have expected some detailed documentation for such a fine piece of software which involves gaining or loosing money.  But there is very little of thaat.
I find it very strnage given that Jonathan is otherwise very active on the forum and answers the questions very quickly.
I guess they are short on resources and time , as they are working hard to add new features and fix some bugs.

In such a case any information from you or any other users who are proficient in Leonardo, would be great.

I see that last couple of message have only been about newbies like me introducing themselves. No other stuff happening here.
How about people who have a bit of knowledge share a couple of tips for others?


I will start to get the ball rolling. Please note that I am in no way affiliated with any of these sites. I am just sharing what I found useful.

1. You can easily buy bitcoins using Zebpay/Coinsecure/Unocoin. Unfortunately it looks like at the moment we have to rely only on Indian exchanges to buy bitcoins. No international exchanges for Indians for now.

2. Next step could be that you want to grow your bitcoins. For eg. you might have bought 0.5 btc. Now yoy may want o increase ito to 0.6 btc and further.
The only way to do so (without putting additional money) would be trading with different altcoins.
You buy an altcoin when it is low, and you sell it when it is high, thus gaining a little more btc in the process.

3. Once you decide to start trading in altcoins, you need too settle on an international exchange to carry on the trading.
Here is a comparison of different exchanges:
https://blog.infinitemlmsoftware.com/top-bitcoin-exchange-list-2017/

Please note that we cant buy bitcoins on international exchanges, but we can very well transfer our existing bitcoins (purchased from elsewhere like Coinsecure/Zebpay/Unocoin etc) to these exchanges and start trading.

The exchange you choose should depend on:
1. The altcoins do you want to trade in. Not all altcoins are supported by every exchange. Also trade-volume of each altcoin differs between exchanges
2. The transaction and trading fees of the exchange.

4. Charts
You need a place where you can see the increase (or decrease) of multiple coins at once.
One such free site is:
coinmarketcap.com/all/views/all/

You can also look at:
https://cryptocoincharts.info/main/topsFlops

One premium (paid) tool is CoinIgy. It gives you a lot of tools for in depth analysis of trends of different coins. They provide you with tools like candlesticks, waves, different studies like MACD, Bollinger charts etc.
MACD, Bollinger CHarts etc are different forms of studies done to technically analyze different aspects of growth of a coin. Professionals use these studies to very accurately predict when the price of a goin is going to increase or decrease.

There are numerous tutorials online teaching how to study these charts.

5. Portfolio Managers:
If you have a big investment, then you should NEVER put all your coins in a single exchange. Use different exchanges so if one of the exchanges gets hacked or shutdown, not all of your coins/money will be lost.
So for a big investment, you should be using the services of a number of exchanges.
But managing your invstment in different exchanges can become very tedious.
So you will need a portfolio manager which will help you look at all of your investments across different exchanges, from one place only.

Here are some of the most common portfolio managers:
https://www.cryptocompare.com/
https://cointracking.info/
http://coinfinance.com/
http://CoinTrackr.com


This is all for now.
If you find my post is irrelevant to the thread, let me know and I will not post further.
On the other hand if someone finds it useful, then again let me know and I will try to add more information I come across.

How do we mine it. I would like to mine it too. Do you have a telegram channel?

Thats what I understand. However it does not seem to be happening so.
For eg. for Bittrex fees are 0.25% per transaction.

So, if I have purchased a pair for $100, and I wish to sell it for a minimum gain of 2%, the minimum selling price should be calculated as following:
Effective cost = $100 + 0.25% of $100 = $100.25
Effective gain = 1% of 100.25 = 2.005

Final Selling price (after deducting 0.25% on selling transaction) should be 100.25+2.005 = 102.255

102.255 = Selling Price - 0.25% of Selling Price
Selling Price = 102.255/0.9975 = 102.5113

So, the margin maker bit should put the sell order at minimum of 102.5311 to make a minimum effective gain of 2%
However, this did not happen and the selling order was at a lower price than this, and as such the effective gain was less than 0.34%

But since many users are already using this without any problem, I guess I have some incorrect settings, and I need to tweak it more to get it correct.

So far, I am impressed with the interface of the program and its responsiveness and integration with Bittrex. So thumbs from me.
I just need to get a bit more hang of this to purchase it, which I intend to do in a week or so.

Quick question: Would it be possible for you to explain what is the difference between effective margin and minimum effective gain.
And what is the minimum profit the bot aims for when I put in a negative value in min effective gain. I understand that with a negative value, it could try to take a loss on a hope for further profit. But when it has a chance to make a profit what is the minimum it aims for (with a negative value in min e=effective gain)

Thanks for your patience and help.

Thanks Jonathan for your answer. But I am still a bit confused. Does not 'effective gain' take the exchange fees into consideration ?
Also, if I have to set 'minimum effective gain of 1%' and purchased a currency at say .034 btc, would the sell bid be automatically of at least 0.03434 btc(100.01% of 0.34 to account for 1% effective gain)?

Anybody?

Can anyone using leonArdo kindly explain to me how does it calculate effective gain?

I am fiddling with demo version (with Bittrex as exchange).
I chose margin maker as the strategy with the following settings:

Trading pair: LTC/BTC:
Amount (LTC) : 15.4704
Start with : Buy
Buy Margin: 32%
Sell Margin: 30%
Trading Window: 38%
Effective margin: 1.05%
Min Effective gain: -1%


The buy order went through with these details:
Type: limit buy
Price:0.01615998
Amount:15.470393
Total:0.25000124

The bot automatically placed a sell order with these details:
Type: limit buy
Price:0.0162114
Amount:15.470393
Total:0.25079673


I am not able to understand how selling at 0.0162114 amounts to 1.05% gain.
By the mathemetical formula Gain % = [(Selling Price - Cost Price) * 100]/ Cost Price
It comes to [(0.0162114 - 0.01615998)*100]/0.01615998 = 0.31819%

The formula gives effective gain as 0.318193%, and not 1.05% gain which I had aimed for.
There is quite a strong chance I am misunderstanding the settings. In that case would someone be kind enough to tell me what these settings (Buy Margin, Sell Margin, Trading Window, Effective margin) mean and what values should I provide in these settings if I want to get a profit of 1.05% in every trade.

Thanks.

@leonArdo Guys,

Have been playing with the demo version for about half an hour and am already liking it. However I have a couple of questions

1. What if I place a order through LeonArdo and later I cancel it through the exchange(Bittrex in my case)? Will it get reflected on Leonardo as well?
More generally, does leonArdo see the orders/actions initiated through it only, or is it able to handle ones initiated through the exchange as well.
I am sure the answer is latter, but just want to confirm.

2. I have barely spent an hour playing with it so not sure it is a an intended feature or me being unable to find the correct setting. But I am not able to reduce the amount of BTC to use to buy LTC while using the Margin maker.
My balance is 0.445 BTC and the Margin maker just does not seem to like any amount lesser than it. I am not move the slider to reduce the amount (though I am able to use it to increase the amount). When I manually enter the amount in the input box, the amount automatically reverts back to 0.445 BTC

3. While launching the program in Demo mode (Bittrex Demo), the inital balance is greyed out and set to 0.5 BTC. Is it possible to adjust it?

Thanks

Got you.

I am sorry, but I did not get the context of mentioning Elon Musk here.

Also, regarding Bitstamp, cex.io, btcc, have you purchased bitcoins there? How did you deposit money on those exchanges?

@leonArdo guys

Whats up with this thread?
https://bitcointalk.org/index.php?topic=2131186.0

Hi Ashutosh,

Welcome to the world of cryptocurrency and the forum. I too am new here, but I will try to share as much as I know.

1. Regarding the amount of Bitcoins to start trading with: This is something you have to decide. As everyone will suggest you to not play with more than what you can afford to loose. At any time your investment should only be an amount loosing which would not financially/emotionally hurt you much.
But at the very beginning when you are learning how to trade start with a very small amount. Perhaps 5k-10k INR.
I started with INR 5000 as my first investment, because I wanted to see how bidding and selling works
Next time, I invested 30k. When i will gain more knowledge and confidence, I will invest more.

2. You can invest in cryptocurrency in 2 ways:
a) Trading
b) Holding as a long term investment . Eg. You could buy a bitcoin and keep it for long term in the hope that its prices are only going to increase substantially over time.
Other currencies speculated to grow substantially over time are: Etherium, BitCoin Cash, Ripple, LiteCoin, DashCoin, Neo etc.


3. Trading may be long term and//or short term trading.
For either of these, one needs to learn how to read the charts. I myself am new to this, so cant comment on this much. But there are many videos on Youtube which give you an idea about this.

4. For trading, the only way (for Indians) is to buy bitcoins from an Indian Exchange like Zebpay, CoinSecure or UnoCoin.
All of these require you to provide your identification details when you register. This is required by law and is called as KYC.
These exchanges take anything from a couple of hours to a couple of days. My personal experience was ZebPay was fastest (took only 5-6 hours in my case), while CoinSecure was slowest (took about 10 days). Unocoin took 4 days in my case.
Although CoinSecure was slowest, but I have heard very good things about it, so I want to give it a try.

To know the rates at different exchanges, see this site:
http://www.bitcoinrates.in/

5. Next step is to transfer your bitcoin to an international exchange. There are a number of exchanges like Bittrex, Poloniex, Kraken, Bitstamp, CryptopiaGDax, CoinMama, Bitfinex, C-Cex, Bithumb etc. These differ in number of currency pairs (among which you can trade), fees, exchange rate and availability in different countries.
See these links for a comparison of some of the most popular exchanges:
https://blog.infinitemlmsoftware.com/top-bitcoin-exchange-list-2017/#.WaQYzT4jGpr
https://99bitcoins.com/best-bitcoin-exchanges-comparison-review/

See this link for a list of cryptocurrencies and exchanges where they are supported:
https://cryptocoincharts.info/
coinmarketcap.com/all/views/all/

I personally use Bittrex for its extremely easy intuitive interface. However, I will soon start trading on Poloniex as well because:
a. the volume there is higher than on Bittrex
b. You should keep your coins in multiple different exchanges because if one exchange gets hacked, your rest of the coins are safe
c. There are some currenciies not supported on Bittrex, but supported on Poloniex. Vice-versa is also true

6. On the other hand, If you dont plan to trade and just want to buy bitcoins for long term holding, then remove your coins from online wallet to an offline wallet asap

This is all I have learnt till now, and I have shared it here. If I get to know more, I will add later on.

Do you men to ask which BTC website/exchange is trustworthy?

Well, if you are buying Bitcoin or any other Atcoin (eg. Ethereum or Ripple or DashCoin or Lite Coin or whatever) for long-term investment, then you don't keep it with the exchange , no matter how reputed it is. Because exchanges are prone to hack attacks/bankruptcy etc.
Better to buy them from CoinSecure/ZebPay/LocalBitcoins/UnoCoin and then transfer them IMMEDIATELY to an offline wallet.

However, if you are in there for short term trading, then after buying on any of the Indian exchange, transfer your Bitcoins to a reputed international exchange like Bittrex/GDax/Poloneix/Kraken etc. and then do the trading there.

Which exchange do you choose should depend on :
1. whether the exchange supports the cryptocurrency you want to trade in
2. deposit/withdrawal feels
3. transaction charges
4. Other factors like support response time, UI/UX etc.

Okay, will look at it

That makes sense.
But this link gives other impression.
http://www.bitcoinrates.in/

Hey Somz1 . Many thanks for replying.
I have heard about LocalBitCoins, but I have a question regarding the margins.
The sellers on LBC would be able to sell for lower price than Indian exchanges only if in the first place they would have got them at cheaper price than these exchanges.
How would the sellers be able to sell Bitcoins at lower rates than ZebPay or any other Indian exchange, if they themselves would have brought the coins from these exchanges?


Please dont take my question otherwise. I am not trying to raise a doubt on your answer; I am just trying to understand the process by which the sellers on LBC might have got the coins for cheaper than on Indian Exchanges.

@mazyrana   I will look into LBC once i have had some experience. At the moment, I am very new to all this, so just playing safe.


@onrise.  I was planning to divide my investment into 2 parts. One is long term storing of the BTC/BCC/ETH, and other was for short term trading.
But these huge spreads of Zebpay dont allow for short term trading, so I was hoping if we'd have access to a foreign exchange to buy directly from them, then it would be great. Are you aware of any such foreign exchanges? What are their fees?

Hi All,

A newbie Bitcoin enthusiast from Bareilly (U.P.). Professionally a freelance web developer

I had heard about Bitcoin around a year back, but what I read (on Quora) was written in not so encouraging words. Basically, it went along the lines of 'Bitcoin mining was once very profitable, not it is no longer even slightly profitable unless you invest huge capital in it'. There was no mention of bitcoin trading; only a list of outdated hardware that once made people millionaires but were no longer any useful...and then another list of some other miners of which you would have to apparently get a couple (10-15), to make some decent profit.
If only that article had something on Bitcoin trading, things would have been different for me at least

Anyways that is about me.

Anyone from Bareilly/U.P. here?

Hello everyone,

I am a new user here. I am new to the world of cryptocurrency.
It looks like if I have to do some trading on bitcoins, then I have to follow these steps:

1. Buy from Zebpay/Unocoin at a price 20-25k higher than international exchanges
2. Transfer to the wallet on international exchanges like Kraken/Bittrex/Bitfinex/Poloniex etc. This again involves a transaction fees (in terms of bitcoin).
3. Do some trading. Make some profit.
4. Again transfer back to the Zebpay/Unocoin wallet. Again involves a transaction fees
5. Sell at Zebpay/Unocoin i.e convert to INR at a price 20-25k lower than international exchanges
6. Withdraw.

It appears in this entire process one is bound to loose 40-55k INR and hence any profit you might have made in trading will be cancelled out.

Kindly correct me , if I am wrong.

But despite this I have heard people raving about how a living can be made by trading in cryptocurrencies.
So, I want to ask you guys, is it really possible to make a decent profit trading?

Is anyone actually doing it and making some profit?

If yes, then I believe it would be possible only if we are able to directly buy from foreign exchanges.
I browsed through some existing threads and they mentioned some exchanges allow this by Wire transfer and other methods.

 
Problem is I did not understand a single word of those thread except there are huge taxes involved and something to do with coming under the radar of IncomeTax authorities, because of some remittance thing.

I have never ever done an international transfer (except for PayPal a couple of times) in my life. In fact, I am not very well versed with different methods of funds transfer either. I mean I know how to do a NEFT/RTGS/IMPS. But thats it. I do not know what is SWIFT/WireTransfer and what are the charges. I dont know what could be the cheapest method of transfering funds to these exchanges.

So, if you guys could guide me, it would be extremely helpful for me.

I will summarize my questions again:
1. Given the huge differences between buy/sell prices of foreign exchanges and Indian exchanges, is it possible for some one to make a good profit trading?
Is there anyone on this forum who is actually doing it.
2. Is there a way that we can buy bitcoins directly from foriegn exchanges by depositing funds in their accounts. And what be the cheapest and simplest method to do that.

Thanks in advance for your help.

P.S.  What's up with Coinsecure? They are taking ages for KYC verification. I have heard they are better than Zebpay & Unocoin. But I have not got a chance to try CS, as my KYC is pending from a couple of days days. I uploaded my documents for verification 6 days back, and it took them so long just to acknowledge the receipt of the documents. I guess it will take another 5-6 days to complete the actual verification process.
I guess, they are seeing a surge in their userbase given their reviews are better than those of Zebpay and Unocoin.