BTC Crash | 3Commas Bots Performance
We saw that bitcoin had a sudden crash on 7 Sept 2021, despite that, we can see that bitcoin had a huge huge wick. So this would have been great for a lot of bots as long as your safety orders are sufficient to capture all these wicks. And once it has its reflex bounce back up, you should be able to exit most of your deal. Because if you have quite a substantial safety order configuration, you would be able to buy the dips. Your average price would have been somewhere around the lower end of the wick. Afterward, you should be able to exit your deals, once it bounces, if your safety orders are all filled.
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Watch the full video here: https://youtu.be/DJTbr1L3HTw
I filtered the top five deals that have closed on 7 Sept 2021 In terms of bots that have contributed the most amount of profit, we have the Perpetual DCA Bot, QFL 7 Bot, and thirdly the Doomsday Aggro Bot.
Perpetual DCA Bot:
Taking a look at the safety order configuration, the max safety order count is 10 safety orders, the price deviation to open the safety order is at 2, safety order volume scale is at 2 and safety order step scale at 1.3. So what does this mean?
Let’s take a look at the table here.
So the first base order would be at zero percent deviation. Afterward, you can see that when it hits its 6th safety order, it would be opening order at 25.51206% deviation from the base. This would bring your average price down quite substantially and the required price for you to take profit will be brought down as well. This means if you manage to average down you should be able, when it bounces, to exit it quite easily. As long as you have these safety orders in place, you should be good to go.
Next will be the QFL 7, RSI 5. Some of you have been saying that this hasn’t been opening a lot of deals for you; likewise, it hasn’t been opening the most number of deals for me, it’s quite sporadic. However, yesterday itself it closed the highest amount of profit.
Let’s take a look at the condition. I didn’t change it and it’s quite normal (as I have shown you guys in the previous videos) except for the base order and safety order size. However, that’s because my account size changed. So if you look at my QFL 7, which I mentioned in Portfolio Update (August), I changed it to Day Trading instead of Original.
The max safety trade count is at 4, price deviation to open safety orders is at 3, safety order volume scale is at 1.5, and safety order step scale is at 2.5 which is the same as the previous video.
But what we can see is that yesterday, normally for my QFL 7 it stops at the first safety order, I saw quite several deals hitting the second safety order which means that it’s opening at a 10.5% deviation from the base. Imagine your initial price is 2.664 and having a second safety order will bring down your average buying price to 2.4919, you just need a little bit of bounce and you should be able to exit from the deal already.
Here’s a sample number of safety orders we can observe that has been filled:
1. Perpetual DCA Bot — 7 SO (Took 1 day)
2. QFL 7, RSI 50–2 SO
3. Doomsday Aggro Bot — 1 (But this is a very old one and it took about one month to close because of the take profit)
4. Perpetual DCA Bot — 6 SO (It took 12 hours)
You can see a number of safety orders definitely increased because of the dip yesterday. But as long as you have sufficient money to fund the dips you should be able to get out of your position.
Let’s take look at the current deals that are currently being closed, here is:
1. Perpetual DCA Bot that closed faster, 6 minutes, compared to deals that closed yesterday.
2. Avoid Local Top LTR that closed in 3 hours with 2 SO. This is a new bot that I’m trying out and I haven’t shared it because I’m still trying out and this bot is very very new, i have only been running it for only one to two days. But once I have more results of it I’ll share it with you.
3. Perpetual DCA Bot with 2 safety orders in 31 minutes.
4. Algo Non-Stop with 1 Safety Order in 30 minutes.
5. Perpetual DCA Bot with 1 safety order in 9 minutes.
6. Avoid Local Top LTR with 1 Safety Order in 8 minutes.
So, in general, all these deals closed rather fast and the number of safety orders required is rather low. If you were able to fund all your safety orders yesterday, you should close those deals yesterday and today you should be able to take on new deals and that should be able to help you in terms of your profit today as well.
However, what I would recommend you guys to do if you still have outstanding deals is to reduce the take profit level. Make it more conservative, in case it continues going down. It will ensure that you have sufficient funds to fund the subsequent dumps and the safety orders required. And the other thing that I would recommend is reducing the number of active deals.
What is exactly is number of active deals? Let me show it to you:
For example, Perpetual DCA Bot. Initially, for this bot, I have 10 active deals but right now I reduced it to five because I’m afraid I do not have sufficient money to fund all these safety orders if the market continues dumping.
I know that it can be scary and you might be tempted to stop loss everything but do not stop loss it because of what we have just seen from the chart itself, yes there is a huge wick down but afterward there’s a reflex bounce. What you want to do with all these bots is to capture the bounce, so if you can buy your way down, DCA down you would be able to offload your position during the reflex bounce and this should work fine for most of the situation.
If you are really afraid, what I recommend you to do is to curate a set of coins that you would like to trade and don't mind hodling and just trade on that set of coins. If you are too afraid right now:
- Turn off your composite bots and only turn on your simple bots
- Reduce the number of active deals,
- Reduce your base order as well as your safety order size.
However, the caveat here is that if you are wrong about the direction of the market, instead of going down and it goes back up, you will be stuck not having many deals again. That’s the reason why even though I do reduce some of my take profit levels, I do not reduce all of it. In the event that I’m wrong about the direction, I am still able to get the reward that it sowed today.
For example, for my QFL 7, I still have some ongoing deals. The reason for that is because I know how hard it is to open a deal. So the last thing I want is to act hasty and miss out on the potential gain from it as well.
You have to let the bot do its own thing and you can’t just stop the bot whenever you’re feeling emotional or scared about it. So I would say to just try to not look at the charts and don’t panic stop loss. If you want to take profit faster, sure, if that gives you better peace of mind. But at the end of the day, I would say, trust what you task it [bot] to do. if you know that this bot has 80% safety order (max safety order price deviation) is more or less kind of okay. Just make sure you have sufficient funds.
If you have any further questions please do feel free to ask on the Discord server. To sign up for a 3Commas account: https://3commas.io/?c=messenergy
