Daily Profit Cryptocurrency

Daily Profit Cryptocurrency – This is my experiment in automated cryptocurrency trading. I’ve been a crypto-bitcoin hodler for quite some time, but I’ve recently changed my perspective. I want more profit, yes. But they also recognize that the cryptocurrency market has changed and more retail and institutional investors have stepped in. I realized the volatility of altcoins and saw the opportunity of the traditional DCA (dollar-cost averaging) investment strategy. I will try a crypto trading bot to profit on the volatility of the cryptocurrency market.

This is my plan. Let me show you my progress. I try to update this post as regularly as often, usually weekly. I have been using TradeSanta for over a month now.

Daily Profit Cryptocurrency

I was introduced to Bitcoin, Ethereum and blockchain technology and its cryptocurrency market by one of the nomads in the Thai coworking space. I was traveling the world as a digital nomad at the time (2016). To tell the truth, crypto has changed my view of financial markets.

Most Traded Cryptocurrency Worldwide 2022

While exploring blockchain and cryptocurrency start-ups, he visited many crypto events in Europe. I love connecting face to face with entrepreneurs, investors and interesting people. Unfortunately, Covid-19 hit our world in 2020, and all events are online. I’m sad because I can’t connect with people on the same level as before. Also, my travel was stopped and it affected my open mind as well.

From time to time in 2017 – 2020, I traded a few coins, but to be honest, most of the time I broke even or took a small loss. I mean the loss compared to staying invested in Bitcoin. I’m lucky if the benchmark is US dollars. But I lost some BTC because I wanted to profit from the rise of altcoin.

You probably know this strategy. Trade altcoins and get profit to buy more BTC. Clever but hard to execute.

I’ve been investing in stocks since 2015, so I know a little about the psychology behind investing. I believe that regular investing pays off in the long run if you are willing to stay on track for a long time. This strategy has brought me a nice profit so far. It is also known as DCA strategy; below, I write more about it. I am a more fundamentally oriented investor and always look for asset value.

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After several years of holding crypto assets, I have seen retail investors step into the cryptocurrency market. I know I have to change something. Hodling is great, but the cryptocurrency market has huge potential, doesn’t it?

I decided to try TradeSanta, an automated trading bot platform. You don’t need to install anything; it is a cloud based software. It has a very intuitive UX, easy to navigate and very easy to configure. I have tried other auto trading bots before including the free Cryptohooper trading bot but it was kind of hard to set up and I’m not sure I set everything up right.

TradeSanta crypto bot is a paid service. You can use the free 3-day trial and see how it works. Honestly, those 3 days are not enough to give you an idea whether the trading bot is working for you or not.

And that’s why I want to share my experience with you so you know what you’re signing up for.

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After reading many reviews, I decided to pay the advanced plan for a one-year subscription and give it a try.

I work in marketing and also see how advertising works in the crypto space. Reviews are written by bloggers who do not use the service; they just want an affiliate commission. To be honest, I don’t really like this type of marketing. I also do affiliate marketing, but I believe in transparency and honesty with my readers.

Many crypto trading bot reviews are written just to earn affiliate commissions. Sometimes it can be difficult to distinguish whether the review is the opinion of the author or just marketing.

Affiliate marketing is great and can be done right and right, I believe. Once the article brings value to the readers, it is perfect to promote the service.

Chart: 2021: Year Of The Cryptocurrency

I wrote this article with my knowledge to give you an honest and transparent TradeSanta review. So you can decide whether it is the right tool to try or not. I would appreciate it if you sign up through my affiliate link.

Full disclosure, I will receive a commission. But you can be sure that your price is always the same, you don’t pay more. And I always write about profit and loss as transparently as I can.

I started using TradeSanta on March 9, 2021. It’s been almost a week. For the first four days I experimented with my trading bot setup and I didn’t use all the balance which you can see in the image below.

The daily profit these days varies from 30 to 40 USD, having a balance of around 7000 USD.

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I chose DCA, the dollar cost averaging strategy, because I believe in this investment strategy for all financial assets. This is one of the main reasons why I chose to try the DCA robot. I can make regular purchases manually, but not as often as my trading bot, and my emotions will play out and probably ruin my plans.

Dollar Cost Averaging (DCA) is an investment strategy in which the investor divides the total amount to be invested into periodic purchases of the target asset to reduce the impact of volatility in the total purchase.

Below I am sharing my trading bot setup. Here is an example with the ADA – USDT trading pair.

If you want to be sure you can make a 30% correction, make sure you ideally have 500 – 700 USDT (or equivalent) per trading pair in your budget. I usually set a budget of 500 USDT per trading pair. In other words, it means that if you set up 13 trading pairs, you should have at least 6500 USDT (or equivalent) in your balance on your crypto exchange.

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I use Binance as my crypto exchange. If you are new you can sign up with my referral link and get 10% off trading fees as a bonus.

The PRO Trailing Take Profit feature that comes with the advanced plan is not required, but based on my research, it is more profitable.

Trailing Take Profit waits until Take Profit is reached and then activates Trailing Stop. The stop order only flows in one direction. Take a look at the video below that explains the Trailing Take Profit feature.

Don’t go long on coins you don’t like, because if the market goes in the opposite direction by more than 30 percent, you could end up with the coin. If it’s a coin you trust, that’s great, because you bought it cheaper. But if it’s a coin you’re buying because you want to trade, you’ll be sad if not angry.

How To Trade Cryptocurrency: A Beginners Guide

2) Set the long strategy and short strategy combined for a trading pair if you want to profit in a volatile market.

This is one of the favorite strategies because they buy coins and sell coins and basically make a profit in the meantime. It could be a strategy for a currency you like or dislike or see the pair trading sideways.

How much money do you pay in fees when you use TradeSanta? It depends on how many bots you have and what activity you want. Let’s calculate that you have set up about 20 robots and use the equivalent of $10,000 to trade; You can spend about $200 in transaction fees.

It may seem like a lot, but trading bots will pay you back. As you can see from my first week, it was worth it.

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I use it to manually turn the bot on or off. I also check twice a day that my coin and USDT balance is fine and I still have funds to run my bot. The mobile app is really UX friendly.

6) TradeSanta shares the most profitable crypto pairs so you can create new trading bots based on general user knowledge

This is how I set up bots for Chiliz (CHZ) and Enjin (ENJ) coins. You can also find new rising stars in the cryptocurrency market and invest more in them.

I’m not sure if setting to take profit at 0.7% is the most effective for all trading pairs. Maybe not. I will be doing a more in-depth research on cryptocurrency volatility in the coming week to better understand the issue. I will share it in one of the next reports.

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Network strategies and smart orders are trading features on TradeSanta worth exploring. I may configure the new bot with these features in the coming weeks. Before that, I want to solve it, so I’m giving him some time to learn more.

I want to make sure I know and stick to my crypto strategy. I know my place in the cryptocurrency market. I’m a hodler, not a trader. I use

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