What is Profit Trailer (https://profittrailer.com) ?
Profit trailer is an automated cryptocurrency trading bot. It operates by connecting to an exchange such as bittrex or binance through API keys. On your behalf it executes trades in order to gain profit slowly increasing the size of your main pair account (typically BTC - Bitcoin). It uses a delayed (trailing - thus profit trailer) analysis and prediction to test the direction of the value of individual pairs (cryptocurrencies) then decides whether to wait or buy. Then uses another trail based on your set strategy to decide when to sell for a profit. Using PT Feeder another add-on you can also easily set which pairs you want to HODL, exclude, or trade.
Why is restricting your pair list important?
Case 1 - Pump and Dump
Some coins are subject to "pump and dump" strategies, where a group of people artificially inflate the value of a coin only to rapidly sell and take large profits. The coin then rapidly declines and usually doesn't recover.
Case 2 - Delisting
Other coins are subject to "delisting" from exchanges. This is when an exchange decides to no longer offer the coin and when delisting occurs it rapidly declines in value and then your bot will never register a profit and will hold it until you intervene.
The Profit Trailer bot is not apt at handling these events (unless you are able to program it effectively to take advantage or avoid such instances) so the best course of action is to completely avoid these coins through the SOM list. SOM is "sell only mode" where the bot is instructed to only sell coins.
What protection can you take?
Strategy 1 - Research
It is a good practice to stay up to date on coins to find which ones are good and which ones are bad investments. During your research identify which ones are being mentioned in forums or which graphs look like this:
https://www.coinigy.com/s/i/5a64be62bec2
Strategy 2 - Restriction
Another good practice is to restrict the trading pairs with the top 35-50 market caps. These have higher volumes and make pump and dump much harder to conduct without a large amount of people finding out. You can be even more conservative and just do the top 10.
Strategy 3 - Delisting Calendar
Stay up to date on the exchanges list of coins they are delisting.
Bittrex: https://support.bittrex.com/hc/en-us/articles/115003977472-Pending-Market-Removals-1-26-2018
is the latest one for bittrex at the time of publication of this article. You can navigate there and then go to the latest date in the archive list.
Sample List
Here is a sample list of coins to add to the exclusion list:
EBST,BTCD,MYST,APX,EDG,BURST,ZEC,SAFEX,BNB,BTS,BTA,DAR,DRACO,SLING,CRYPT,DOGE,UNO,SC,INCNT,NAUT,SJCX,NOTE,TKN,TIME,TRIG,MTL,DGD,DCT,CPC,FLDC,COVAL,BTCD,BCY,AUR,GLD,XMG,GBYTE,NBT,AMP,EXCL,BLK,SLS,SYNX,PKB,FLO,RISE,1ST,CLUB,QWARK,GBG,RCN,EMC2,GRS,QRL,BITB,2GIVE,BLITZ,ERC,EGC,FAIR,MTL,DGD,TRIG,MTL,SWIFT,ARDR,SAFEX,BTA,DAR,DRACO,SLING,CRYPT,DOGE,UNO,SC,INCNT,NAUT,SJCX,NOTE,TKN,TIME
Happy Trading Everyone and Stay Safe