The Cryptocurrency market is unlike any other mainstream market. The currency trades 365 days a year, 24 hours per day, 7 days per week making it an ideal market for automated trading bots. When I first entered the market I immediately began searching for a trading bot that could continuously monitor and execute buy and sell strategies within the market.
Profit Trailer is a market leading automated trading bot that I use to assess, monitor and trade cryptocurrency on the markets leading exchanges (Poloniex, Bittrex and Binance). Profit Trailer allows me to set custom criteria for buy, sell and dollar cost averaging strategies. The bot will then execute the strategies 24/7 365 for a seamless trading experience.
Implementing and modifying the buy settings provides a successful boundary for the bot to operate in. Profit Trailer offers several different buy strategies to use to adjust to all different market conditions. The bot also trails the buy price and sell price to ensure you are buying and selling at an ideal cost.
Base Pairs:
Supported Base Pairs: BTC, ETH, USDT
V2 additions: XMR (Poloniex) and BNB (Binance)
In V2, the expansion of the base pairs will provide even further flexibility on trading. Allowing users to accumulate a base pair of choice.
With 5 base pairs supported the buy strategies can be modified to fit the base pair and current market conditions to allow for a fully customized experience.
Buying Strategies:
By setting the right combination of buy strategies the bot can operate at an optimal level ensuring to make several checks based on the indicators below before placing a buy order on the exchange .
Supported Buy Strategies: LOWBB, HIGHBB, EMAGAIN, EMASPREAD, EMACROSS, SMAGAIN, SMASPREAD, SMACROSS, LOSS
V2 additions: RSI, STOCH, STOCHRSI, MACD, BBWIDTH, OBV or DISABLED
V2 provides the ability to combine multiple buy strategies to hone the bots buying based on up to 5 strategies.
Example: Using a LOWBB strategy combined with RSI requires the bot to buy at a specific point on the LOWBB line as long as the RSI is under a particular value.
LOW BB = 10
RSI = 35
The values above will tell the bot to wait until the coin pair has reached a LOW BB value of 10 and the RSI is under 35% to ensure an optimal buying entry point.
Selling Strategies:
By setting the right combination of sell strategies the bot can operate at an optimal level ensuring to make several checks based on the indicators below before placing a sell order on the exchange.
Supported Sell Strategies: GAIN, LOWBB, HIGHBB, EMAGAIN, EMASPREAD, EMACROSS, SMAGAIN, SMASPREAD, SMACROSS, LOSS
V2 additions: RSI, STOCH, STOCHRSI, MACD, BBWIDTH, OBV or DISABLED
V2 provides the ability to combine multiple sell strategies to hone the bots selling point based on up to 5 strategies.
Example: Using a GAIN strategy combined with RSI requires the bot to sell at a specific point when the coin pair has gained a set % as long as the RSI is under a particular value.
Gain = 1.00
RSI = 75
Dollar Cost Averaging (DCA):
Another unique feature of Profit Trailer is its ability to DCA the coin pairs in the event the market conditions change. This provides a way for the bot keep average down the cost of a specific coin pair (further detailed here).
Supported DCAl Strategies: LOWBB, HIGHBB, EMAGAIN, EMASPREAD, EMACROSS, SMAGAIN, SMASPREAD, SMACROSS, LOSS and ANDERSON
V2 additions: RSI, STOCH, STOCHRSI, MACD, BBWIDTH, OBV or DISABLED
By combining multiple DCA strategies the bot continuously monitors the existing coin pairs and will buy more of the coin when the indicators are met. By purchasing more of the coin the bot is able to average the cost of the purchase points. This allows the bot to have a greater chance to sell a coin pair at a profit.
Conclusion:
With the release of Profit Trailer V2, several major enhancements will be made to provide additional features and strategies for buying, selling and dollar cost averaging within the bot. V2 also includes enhanced bot intelligence by allowing the bot to look at the past market history of the coin over a 24 hour period to ensure optimal entry and exit points for the coin pair.
A new GUI provides real time data on the bots performance as well as real time market trend data and price points.
Base pairs trend data and current price
Overall sales for today, yesterday and the last 7 days
A detailed look into the pairs, dca and sales tabs
Head on over to our Community Wiki
to learn more about the bot’s features, full setup guides, and grab our free settings.