This week I started using TradeSanta. I always wanted to tryout a Tradebot and see what happens. With my posts I'll share what I'm experiencing. This because I'm completely new into using Tradebots.
Finding a bot
So my first steps in this journey started with finding a Tradebot. Because I want to start slow and don't loose to much money in the starting phase I started Googling for Free Tradebots.
Soon I found TradeSanta and after Googling a bit more I made my choice to register on this platform.
Registration is nice and easy, and it's also fairly easy to connect TradeSanta to Bittrex or other Exchanges. Currently they have Binance, Bittrex, Bitfinex and HitBTC.
Setting up my first bitcoin bot BTC-XRP
So, the next step was sending some Bitcoin to the exchange, wait, and setup a Trading Bot.
The first bot I had was a BTC-XRP bot. This because I also had some leftover XRP in my exchange account. Because I have very little experience in trading I just started setting up one.
TradeSanta has 3 types of strategy templates. Long, Short and Custom. Without any knowledge I picked Short for the BTC-XRP.
I used the following settings for this first bot:
Strategy: Short
Take profit value: 0.5%
First order volume as: Fixed Value
Fixed value: 25 XRP
Extra order volume as: Fixed Value
Fixed value: 25 XRP
Step of extra order: 1%
Count of extra orders: 1 (1)
And that were the settings. I saved them and just ran the Bot. Withing a few hours I had a $ 0.05 profit made via the Tradebot.
Bot nr 2 BTC - RVN
So, i thought well.. this works out a bit. Lets try more. So I started setting up other bots. Also by looking at popular trade pairs. Therefor I selected BTC-RVN and decided this would be my second Tradebot.
I used the following settings for this first bot:
Strategy: Long
Take profit value: 0.5%
First order volume as: Fixed Value
Fixed value: 0.002 BTC
Extra order volume as: Fixed Value
Fixed value: 0.002 BTC
Step of extra order: 1%
Count of extra orders: 1 (4)
This resulted in a $ 0.53 profit after several hours of running
Bot nr 3 USDT-BTC
I also wanted to setup a USDT-BTC bot because this is a popular trade pair according to the active bots I can see on the TradeSanta Platform. But to start trading in these pairs I had to buy USDT. So I bought some and setup my 3rd and last bot.
I used the following settings for this first bot:
Strategy: Long
Take profit value: 0.5%
First order volume as: Fixed Value
Fixed value: 25 USDT
Extra order volume as: Fixed Value
Fixed value: 25 USDT
Step of extra order: 1%
Count of extra orders: 1 (4)
This resulted in a $ 0.68 profit after several hours of running
Running for almost 2 full days
Now I'm running these 3 bots for almost 3 full days and i have made about $ 4,-
So I'm thinking about letting my Bots run for a While, and just see what happens to them.
How is your experience in using TradeBots? Do the things I have written above make sense? Or can a Noob like me get better at using Tradebots? Is a $ 4,- profit margin with the settings above okay?