Below are recommendations on the strategy that is best suited for using RevenueBot, on the rules that you should follow to reduce risks, as well as on how much you can earn by using our bot.
- 1. Do not chase big profits, by increasing the risks of trading and using aggressive bot settings.
Our bot is more suitable for accurate and careful trading, which does not require a lot of time for controlling and tracking the work. Use the "easy" settings to make even a small profit (0.2%-0.7% per day added to the deposit), but without taking on big risks.
- Use a price change overlap (Price Change Overlap %) of 50% or more.
- Use, in the grid of orders, a Martingale percentage of 5% or more. This will allow you to make a profit on smaller price rebounds. The higher the Martingale percentage, the smaller the price rebound needed to make a profit.
- Use a profit percentage (Profit %) of between 0.5% and 1%. It is better to complete several cycles at 0.7% profit than to wait until one cycle is completed at 1.5% profit.
- 2. Split the deposit into several parts for trading with several bots in different trading pairs.
- Part of the deposit can be allocated for trading in large and reliable cryptocurrencies. The profit made will not be big, but there will be stability and results as expected.
- Part of the deposit can be allocated for trading in promising cryptocurrencies. Even if the deposit allocated to the bot goes to such a coin, it does not unequivocally mean that the result will be bad. It is possible to switch/reverse the trade (by changing the bot's algorithm to the opposite one) and trade the other way, so that the deposit will not stand idle until the price returns to the level needed to close the original trade with a profit.
- A part of the deposit may be allocated for trading with an automatic switching of the trading pair on the basis of the results of the volatility analyzer. In this case, the bot's downtime will be minimal, because, at each new cycle, the bot will choose the trading pair that will be the most profitable to trade here and now.
- 3. Choose your trading pairs carefully.
- Only trade cryptocurrencies you know or trust.
- Don't trade cryptocurrencies that are little-known, very cheap (price < 0.00000070 BTC) and subject to pumps/dumps, the price of which can change dramatically and for long periods of time.
- Do not trade to fiat currencies. They are the ones whose price changes are usually the strongest and last the longest.
- 4. Always use filters to launch the bot. Using filters to launch a bot will allow you to avoid starting a bot’s cycle on a pump/dump (start buying too early and too expensive or start selling too early and too cheap).
There are various trading signals and indicators that can be used to set up filters:
- RSI, CCI, Bollinger Bands. They reflect the relative strength of the trend.
- A trading volume indicator for the past 24 hours. You should not trade a coin that had a trading volume < 500 BTC during the last 24 hours.
- RB indicator. It shows the amount of price fluctuations that have occurred over a specified period of time.
- Indicators of the presence of a pump/dump over a specified period of time.
There is more information available on Filters for launching a bot.