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Prices of Bitcoin, Ethereum and various alternate currencies altcoins are volatile and crypto trading can earn you an easy extra income. Monitoring the markets, watching indicators and placing buy and sell orders on time can be an intense job. Many free and paid Telegram groups are offering trading signals that can be followed to achieve a profit. This can be profitable, but still requires manually placing your orders.
To save time there are many technical solutions around which can automate your trading: This article describes how to set up and configure one of the most profitable bitcoin trading bots around.
After thoroughly testing many open source trading bots like Gekko and Tribeca, we found that these bots came close to what we wanted but they never realized the potential that was actually there. The bots were buying and selling too early or too late. Profittrailer is a paid bot which costs 0. This might seem a lot, but we found that the bot regained this amount easily within a week by trading with a starting balance of just 0. When trading with this bot, you can choose out of several indicators that can give you buy and sell signals.
If an indicator gives a signal, Profittrailer will not immediately place an order. Instead it will start watching the market to see if the current trend continues. Once the market reverses, it will place the order. By doing so it will easily catch peaks, giving you the maximum profit available in the market. Markets can go up, but eventually they will also go down.
This feature uses the Martingale system. If a market goes down more than expected, it can place follow-up orders which will level out the average cost of your initial order. If you have a running VPS, a Profittrailer license and a Binance account, you can continue installing the software. Profittrailer is fully configurable, you can adjust it for almost any strategy. To give you a starting point for configuring your bot, we advise you to watch the Youtube videos created by TheGobOne and CryptoGnome.
Instead, investigate the given settings and adjust them into your own trading strategy. Besides trading on the BTC pair, depending on the exchange you can also use the bot for other pairs. USDT, ETH, … With your Profittrailer license it is possible to run multiple instances of the bot on multiple trading accounts, trading different pairs.
Also published on Medium. View all posts by etherico. Your email address will not be published. Notify me of follow-up comments by email. Notify me of new posts by email. Cryptocurrency trading is hot but can also be quite demanding, a bitcoin trading bot can help!
Profittrailer After thoroughly testing many open source trading bots like Gekko and Tribeca, we found that these bots came close to what we wanted but they never realized the potential that was actually there. Getting started Follow these steps to start your bitcoin trading bot: It is recommended to run it on a VPS server.
In order to be able to trade, you need a trading account. Profittrailer supports several exchanges, we recommend Binance because of its trading fee structure. After creating an account, you should buy some BNB tokens first. These tokens will get you a discount on trading fees. As Profittrailer will make many trades, this is definitely worth spending money on. Also put some BTC balance on your account, it should be enough to trade with multiple pairs while also having a reserve for DCA trades.
Order a Binance license for Profittrailer. You will need Binance API keys. You can generate your API key via your user profile on Binance. After completing the payment process, you will get an email with installation instructions.
You need Telegram installed on your computer or mobile phone. In order to activate your Profittrailer license, you need to talk to a Telegram bot. Profittrailer has several localized and global Telegram channels, used for announcements and for connecting the community of users. Last but not least, the tool can send you Telegram notifications whenever the bitcoin trading bot makes a transaction. Installing your Bitcoin trading bot If you have a running VPS, a Profittrailer license and a Binance account, you can continue installing the software.
Instructions on how to do this can be found on this Digital Ocean help page. Once you are logged in, follow the instructions as given in the Profittrailer VPS installation guide.
Configuration of your Bitcoin trading bot Profittrailer is fully configurable, you can adjust it for almost any strategy. Tagged altcoin binance bitcoin bot crypto profittrailer trading tradingbot. Published December 27, December 27, Leave a Reply Cancel reply Your email address will not be published.