Day Trading Cryptocurrency with Trading Bots 2024!

Day Trading Cryptocurrency with Trading Bots 2024!

in this video we’re going to be talking
about trading with crypto Bots is it
worth setting it up what are the pros
and cons in this video we’re going to be
going everything that you need to know
so if that sounds interesting definitely
stick around now when it comes to crypto
bot trading I think there’s a lot of
misunderstanding on how bot trading
works so hopefully this video is
informational gives you a better idea of
how bot trading works for this entire
video I’m going to be using an exchange
called PEX they’ve been an amazing
partner of this channel I do have
referral links down below if you guys
are interested in signing up I do have
referral links down for the US exchange
and for the non US exchange what I want
to do first is explain how everything
works then I’ll kind of show how to set
it up step by step and go over the pros
and cons of Bot trading also just a
reminder that I am not a financial
adviser nor anything that I sharing this
entire video Financial advice so make
sure you guys do your own research and
due diligence before you make any
investment decisions so right now we’re
looking at a grid trading bot that I set
up with ethereum I invested a total of
$10,000 and currently I am up around 26
% at
$2,600 if you look at the chart you can
see a bunch of green lines and you can
see a bunch of red lines to keep it very
simple and there’s no overe explanation
needed when the price of whatever bot
you set up in this example it’s going to
be ethereum goes down it’s going to buy
every single little line that you see so
basically whatever I invested it’s going
to dollar cost average down and then
when the price goes up it’ll sell in
little increments and it’s going to to
continuously lock in profits so what the
bot is doing is it’s buying when it’s
dipping and it’s selling as it goes up
if we zoom out of the chart there are
bunch of lines multiple lines and this
is basically parameters that we’ll be
setting and I’ll show that that as an
example but as long as ethereum is
within that $2 to $4,000 range it’s
going to continuously buy the dips and
sell as things go up if ethereum price
ends up dipping all the way down to like
$2600 then all of this will turn red and
as ethereum price goes up it’s going to
turn all green I hope that made sense I
don’t want to overe explain how this
works I feel like it’s pretty
self-explanatory we’re going to go
inside the app and we’re going to go
ahead and set up an bot so you can have
a better understanding of how this works
now before you set up a bot you can
always go to the homepage on the preset
bot section and you can scroll down and
explore other people’s bot that they
have set up uh there’s one called a
money printer someone from catawampus
pf5 I don’t like I don’t know who all
these people are but these are people
who have set their Bots up that they
want to share like money printer says
meme coins on salana are skyrocketing
these days hold tip with this new Soul
AI bot you can click on the details of
the bot you can see how the bot is
performing and you can also scroll down
to see what the community is also saying
about the bot if this is something that
you’re interested in you can always
click on Create and then decide how much
you want to invest but before we do that
we do have to deposit funds into the
account so the first thing you do once
you sign up for an account is you’re
going to have to deposit funds into your
account account you click on deposit and
you have three options you have the
debit card the wire transfer and you can
deposit cryptocurrency that you may
already own on a different wallet or
exchange in my case I want to deposit
some cryptocurrency and specifically
usdt once you have funded your account
you can either copy a bot that already
exists on the homepage or you can click
on bots on the bottom center click on
create on the top left and then there’s
the GD trading bot option the DCA bot
rebalancing bot there’s a lot of
different bot you can experiment with
but for the purpose of this video we’re
going to be specifically focusing just
on the grid trading bot 24/7 Buy Low and
sell High which is pretty much what it
does and now you have two options here
you have the AI strategy or you have the
customize option where you can set your
parameters on what price range you want
to trade at and how often you want your
grids or your trading Bots to buy and
sell for the AI strategy there’s a back
test right you can you can see how it
did the past 7 days it would set the
price range between 54.6k and 73k and
it’s going to have 59 grids on the 30day
back test it’s going to have 71 grids
and trade between the 51,000 to
$78,000 range and then there’s the moon
option I actually have no clue what this
is but I do like how the 30-day uh looks
right I like the the fact that it’ll
trade Bitcoin when it’s in the 51 to 78k
range cuz that’s a that’s a pretty nice
range right it it’s it’s only going to
be setting up 70 grids so it’s going to
not trade too often which I do like as
well so we’re going to go ahead and
invest all click on Create and just so
you’re aware anytime there is buying and
selling within your trading Bots there
is going to be A3 to. 58% fee for some
that might feel like a lot and for some
that might sound reasonable considering
that there is a bot that will be trading
for you on a regular basis so when you
look at the parameters you can see that
it says about 60% Bitcoin and about 40%
usdt in other words the moment I set up
this bot it’s going to use $600 to buy
Bitcoin at its current price that way
when things go up it can sell and it’s
going to keep 40% on the side in case
when Bitcoin goes down to buy the dips
it all makes sense in just a second so
we’re going to go ahead and click on
okay and right now you can see that the
bot is being created and the bot has
been set up and basically I let it sit
and let the bot do its work and check on
it every now and then to see how it’s
performing now let’s go over the number
one biggest misunderstanding about
crypto trading Bots and that is that you
will not automatically be in profit the
moment you set up your Bot the most
common comment that I see about Crypt
trading Bots is this does not work I’m
already down on my trade or I’m red or
I’m negative this doesn’t work this is a
scam and that’s how it could be if the
market goes down because why the entire
crypto trading strategy bot is designed
for you to buy in and dollar cost
average in and dollar cost average out
if the bot automatically went Green from
right from the beginning you either
bought at the bottom of the market and
the market rallied up or it’s a complete
scam because if anything turns green the
moment you buy it everyone would flood
into it but there’s that’s also a huge
red flag so let’s go back to my ethereum
gray trading bot as an example right
let’s say you set up your Bot right here
at this current price and then all of a
sudden an hour later ethereum decides to
just crash 10% remember how earli of the
parameter you saw that it was like 60%
Bitcoin and 40% usdt well what’s going
to happen is you will be down on your
initial investment you set up your Bot
over there basically you bought there
and the price dipped so you’re going to
naturally be down on your position but
if the market decides to recover and
rally back up instead of being at break
even at your initial cost basis you’re
actually going to be slightly in profit
because you bought the dips or the bot
bought the dips on the way down and it’s
going to be selling on the way up now
earlier when we set up our bot you had
the option of copying someone’s bot or
the AI option or the customized part you
can customize your own AI bot with the
parameters uh customizing your
parameters right I’ll try to explain
this part as simple as possible so when
I set this bot up I set up a parameter
of 2,00
and up to $4,000 so as long as ethereum
is trading within $2 to
$4,000 it’s going to be buying and
selling in that range if ethereum dips
below $2,000 there are going to be no
more green lines and in the same way if
ethereum decides to shoot over $4,000
there are going to be no red lines now
the amount of grids you could set up is
going to be completely up to you let’s
just use this whole range as a example
you can either choose to set up 20 grids
in here like 1 2 3 4 so forth and so on
or you can actually set up like 70 grids
and there’s going to be a lot of micro
lines and that is going to determine how
often you want your Bot to buy and sell
so if you have less grids it’s going to
be buying it’s going to Gap out the buys
and so it’s going to be buying in bigger
chunks and it’s going to be selling in
bigger chunks whereas if you have more
four grids then it’s going to be buying
more frequently in smaller increments
and also selling more often in smaller
increments so for this ethereum bot that
I’ve been sharing the parameters were
trade between $2 to $4,000 and set up
250 grids if uh the range was tighter
let’s say like $2 to
$33,000 I might have maybe set up only
100 grids but because it’s like a
slightly wider range I decided to set up
more grids so that can can buy and sell
a little bit more frequently the grid
itself from buying and selling made a
total of
$1,135 and right now the unrealized
profit is at ,450 which adds up to about
25% at
$2,500 this bot uh has actually been
lasting
772 days so it’s been alive for quite a
while within this bot it’s already used
up
$6,200 uh to hold an ethereum position
and has around $3,400 on the side to buy
the dips if I click on the parameters
you can see the parameters in a little
bit more detailed you can see that per
grid I’m making about .1 to. 3% uh that
number will increase the less grids I
set up so the more grids you have the
less profit you’ll make frequently the
less grids you have the more the less
your Bot will buy and sell but the
profit range will be a little bit higher
that’s probably something that you can
set up try experiment see what you like
and stick with what works for you now
the one last thing I want to go over is
the start price I set this bot up when
ethereum was at
2709 so on March 8 of 2022 ethereum went
down a little bit bought the dips it
probably sold on the way on top and this
is probably where I was up a decent
amount right ethereum went up 30% and
then we had a giant crash right this is
the bare Market of crypto went down
about 67% and unfortunately because it
went out of my parameters right it went
under $2,000 it wasn’t buying and
selling any of this range until probably
right around here it probably sold a
little bit in profit and then I was kind
of like holding holding holding holding
until 2023 when ethereum got back above
$2,000 it was selling selling selling
selling selling selling selling selling
selling and then it was buying buying
buying selling selling buying selling
buying buying buying and it’s probably
buying and selling in these ranges so
from the time I said my bot around
$2,700 to the current price of ethereum
if I just held on to ethereum without a
trading bot I’d be currently up around
14% but because the bot has consistently
bought and sold I am actually up
25% so let’s go over some of the pros
and cons of trading Bots first let’s go
over the cons or the bad things about
setting up a bot and there really is
only one con and that is that when price
action moves up when there’s momentum to
the upside you won’t be able to fully
experience the gains of the market
percentage so in other words if
something moves up let’s say let’s say
like 100% right Your Position will won’t
actually be up 100% you’d be up a little
bit less maybe around like 70 or 60% and
that is because when you initially set
up the bot it used about 60 to 70% of
your Capital to buy bu therefore when
the market goes up you’re only going to
be experiencing the gains on that 70%
versus the 100% so for example my
ethereum bot was set by
$2,700 and if I just bought and held it
I’d actually be up around 50% where was
the bot at the time well the bot was up
around 43% now 43% is still pretty good
but the only reason why the bot was up
43% was because it locked in profits on
the grid but if we look over here when I
initially set up the bot I was only up
around 23% during that time if I just
bought and held I’d actually be up 31%
instead of 23% but there is one catch to
this and that is that you had to have
sold at the exact top to maximize your
gains the question is would you have
actually sold uh at those gains and so
in hindsight yeah it would have been
better if you just bought and held and
sold but most people don’t do that what
most people do is they they end up
buying or dollar cost averaging in and
when things go up they enjoy their gains
and when things go back down you’re like
oh man I should have sold and so yeah
the con may be that you won’t be able to
experience the full percentage of The
Upside but it only plays in your favor
if you’re actually able to sell now the
pro is similar to the con where when
things are going to the downside you’ll
also be experiencing less downside or
unrealized loss so for example I bought
a $1,000 position on my Trading bot 60%
$600 was used to buy Bitcoin if Bitcoin
decides to drop 10% I’m not going to be
experiencing a $100 loss on my ,000 bot
I’m only going to be experiencing like a
70 or $60 unrealized loss and when
things go back up instead of being at
break even I’ll actually be slightly in
profit because the bot bought the dip
and it’s sold on the way up so in that
scenario the bot is actually really nice
because it’ll outperform just buying and
holding probably the biggest Pro to a
crypto trading bot is during a sideways
market so when the market is just
consolidating and trading sideways that
is when the bot will probably perform
the best and the third Pro is that the
bot will trade for you on a regular
basis now some people think this is a
great thing and people like it and some
people don’t like it at all and I think
it comes down to your personal strategy
and your portfolio management now would
I recommend you go all in on crypto
trading bot probably not right I think
just setting up a small percentage of
your portfolio and setting up a bot
makes sense but I think to go kind of
like all in on it I would not recommend
it I’m going to keep this ethereum grid
trading bot and probably my Bitcoin grid
trading bot live for as long as possible
I don’t know if I’ll ever close it out
maybe I’ll just keep it open forever and
we’ll see how it performs compared to a
lot of other things the one neat thing
about uh setting up a trading bot is
that you can adjust and edit your
parameters along the way so if things
are at a lower price or at a higher
price you can always adjust it to be
honest my ethereum gr trading bot I kind
of set it up and I completely forgot
about it and I Revisited it a couple
weeks ago and I was like wait it’s
actually outperforming uh me just
holding and buying so from a longer term
perspective and and looking at the bot
now yeah I’m glad I set it up instead of
just buying and holding but like any
sort of Investments it is a long-term
Outlook and long-term View so I don’t
want you guys to think that hey I set
this bot up how come I’m only up x
amount we’ll see how it does in the long
term but at least at the time of making
this video my ethereum bot is
outperforming me just buying and holding
well with that said I hope you guys
enjoyed this video if you did please
give it a big thumbs up if you guys have
any questions or comments leave it down
below and I’ll see you guys in the next
video over good night good morning adios

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0:00 Intro
0:53 How it works
2:14 Bot set up
5:32 Crypto bots explained
10:01 Pros and cons

All opinions expressed in the video and this description are for entertainment only. You should consult a licensed professional before buying any cryptocurrency or digital assets. Everything in this YouTube channel is for entertainment only.