PalmaBot users and Coconut Club members expressed a desire on me writing about my experiences on trading with PalmaBot. The idea is that I write about what I’ve learned as a trader beginner while testing PalmaBot features. These are my own notes that I have taken while doing it. I must stress out:
- I am NOT a professional trader,
- I am CEO and Co-founder of PalmaBot, but my priority task is not trading at all,
- one-third of my life represents spending time with my family (8 hours), while the other third represents work (8 hours),
- I sleep 6 hours per day on average, which gives me 2 more hours per day (24 – 8 – 8 – 6 = 2) to spend on trading or to better put it – testing of PalmaBot chatbot app,
- on the other hand, I am THE TRADER that gets all the new features among the first to try out with real money and this is the primary cause I started trading in October 2017. And later blogging about it.
So, I am sending a detailed report on my successful trading using advanced Palma features.
Setup / goals:
- trade exclusively on mobile
- use only tools and resources that are accessible via PalmaBot
- real money on a single exchange (investor package is enough)
- doing it by the way – while doing other usual stuff like work, family visits, etc.
- goals in this session:
- wife and coworkers do not feel neglected 🙂
- increase automation profit
- aggressive trading technique
- retain liquidity!
- I started on the 2nd of September and ended on the 12th of September 2020 (10 days).
- Overall profit was 15,01% – which is 1,5% per day!
- Tools that I used:
- coinalyze.net liquidations alert
- Trading pairs:
- As learned in the previous trading session (link), I made deeper stop losses,
- I managed to do more than 1.5% profit per day without having to follow notifications – so I just checked a couple of times per day when I had time – notifications were helpful just to be able to quickly figure out what is going on when I checked,
- time used fell to approx. 15 mins per day,
- this time I was trying out our PalmaExecutor with Coinalyze real-time alert engine, liquidations. My plan was to catch liquidations of Bitcoin and automatically execute trades if there was some USDT (in case of longs liquidations) or Bitcoin (in case of shorts liquidations) available – if not, Palma just notified me there not enough funds to execute and continue normally.
- My usual workflow was:
- every morning I would check only notifications that arrived within the last 2 hours and then set up trades,
- short and long liquidations alert was set and automated via PalmaExecutor test message (see picture 2 below),
- during the day I checked if something significant happened only now and then,
- and would set additional trades if the situation was appropriate,
- or cancel existing pro trades if the situation turned the other way around
- or edit orders that already triggered but were not closed (SL or TP) – this way I was able to increase profit by 1% a couple of times (SEE PICTURE below – you can very well see dots of trades on graph = B/S).
- As I speculated Bitcoin will rise more, I settled Bitcoin as market and traded pairs that are “fiat market free”, which makes their price more independent on BTC market even when BTC makes uptrends.
- don’t be too quick on buying – rather set lower buys but for more pairs as you have the multi-order possibility,
- humbleness pays off – if you catch uptrend while in trade, you can lower you sure profit but let yourself possibility on higher profit in case of a further uptrend (very nice use of /trail_stop_sell),
- If you are waiting (non-liquid) in a position like BTC, trade and use the volatility of coins that are not on fiat or USDT markets and do not fall if BTC rises.
Jernej Vrčko, CEO & Co-founder of PalmaBot
Add me on Telegram and experience real time trading – with me in your hands you are living in the future!
Click the blue icon below.Yours, PalmaBot