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Author Topic: GunBot Not Making Money  (Read 3730 times)

Offline Ashkaan

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GunBot Not Making Money
« on: March 06, 2019, 05:09:06 PM »
Hi guys,


My GunBot has been on for like 4x months with no errors and consistent trading (almost daily) and it makes NO MONEY.  What am I doing wrong?

I figured the default settings would be safe/good enough returns.  I have these trading pairs all on "emotionless" with about 1 BTC in the account.




Thanks!

Offline Aitor

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Re: GunBot Not Making Money
« Reply #1 on: March 08, 2019, 02:53:31 AM »
Hi Ashkaan, Gunbot is not a printing money machine. It automates trading strategies. So, you will get the same results a "human" trader would get following that strategy. My advice is: Ask yourself what you are doing wrong. IMO, one of the most important keys is pair selection.

For example, do you think is a good idea to invest on Venezuelan bolivar? Obv no, it's not. Why? Because it's extremelly hard to get profits if you buy something whose value is dropping and you try to sell it at a higher price.

What I do is, instead of adding any pair, I search for those pairs that are looking good. What does it mean? It means that secondary coin is gaining value against the base coin. Like the traders say: "The trend is your friend. Follow it".

Here you can take a look at some other basic tips for pair selection:

https://gunbot.shop/basic-pair-selection-for-trading-with-gunbot/

Hope this helps.
« Last Edit: March 09, 2019, 12:15:09 PM by Aitor »

Offline Ashkaan

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Re: GunBot Not Making Money
« Reply #2 on: March 08, 2019, 06:53:53 PM »
Thanks, Aitor.  That makes sense.

Shouldn't at least some of my pairs made money though?

Is emotionless the best strat for someone that wants to be as hands off as possible?

Offline criptonauta

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Re: GunBot Not Making Money
« Reply #3 on: March 09, 2019, 02:46:38 AM »
Thanks, Aitor.  That makes sense.

Shouldn't at least some of my pairs made money though?

Is emotionless the best strat for someone that wants to be as hands off as possible?


Hi

Can I join the convo?


It is a stable strategy, that will take small bits without risking too much. So in that sense, yes, Emotionless is a nice strategy.

But other things need to be considered. It's not ideal to leave your investing money exposed to the market all of (or most) of the time. Of course, you can (and must) consider mitigation strategies like averaging, stop losses and so on, but to enter and to exit market in appropriate times is also relevant.

Quote
Shouldn't at least some of my pairs made money though?

Yes, and also not exactly... consider what Aitor asked you about pair selection. If a significant part of your BTC (or another base coin) is spread in a pool of many coins that are losing value over time, even with positive trades the depreciation may be greater than what is being generated with good coins and good trades.

Or giving you another example: according to the image you posted, you are running 14 pairs. If you were trading manually, would you be able to study and monitor all of the 14 pairs and trade them successfully? Although it's possible, it'd be much simpler to deal with a lower number coins, especially if considering both Technical and Fundamental Analysis.

Give another shot trying a different approach.

Salut,

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Offline Ashkaan

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Re: GunBot Not Making Money
« Reply #4 on: March 09, 2019, 02:58:00 AM »
Thank you for the reply.

Yes, that all makes sense as well.

My Gunbot having run for months has only utilized .03 of my BTC.  I have 1 BTC in the account for Gunbotting, but there's very little utilization.  I realized that this may be due to the "Trading Limit" function under "emotionless".  I changed that number from .002 to .02.

Do you guys think that will get Gunbot to utilize more BTC and thus make greater strides?

Offline criptonauta

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Re: GunBot Not Making Money
« Reply #5 on: March 09, 2019, 03:10:02 AM »
Most definitely. A trading limit is what you are essentially investing on each trade, so with a 1 BTC account, a 0.002 trade would represent 0.2% of the total amount you have to trade. If 0.002 would give 1% profit in an emotionless trade, that 1% would in fact represent 0.002% of your total capital.

In a conservative position, it's ok to consider 5% of total capital on each trade. In your case, that would be 0.05. Try that or near that if you feel comfortable with it.
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Offline Ashkaan

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Re: GunBot Not Making Money
« Reply #6 on: March 09, 2019, 04:44:03 PM »
Thank you so much

Offline olliecrypto

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Re: GunBot Not Making Money
« Reply #7 on: March 23, 2019, 01:50:19 PM »
hey, just wanted to add my 2 cents.
was wondering if you changed your trading limits or if you have modified any of the settings on the emotionless strat at all.
i don't have much btc trading, but with small modifications to the emotionless strat, i still get some decent trades, but there is always a competition between decent profitable trades, and coins that get pumped and then lose tons of value.
it's essentially, aggregate profit overall.
i personally changed the buy and sell point on emotionless , such as changing the buy level from the default 1, to around 3
and the sell level from 0.5 to around 4
you wont quit trades as frequently, but at least if the trade takes place, you are making decent trades.
try it out, see if it suits you.
also, try to change your "trading limit" from the default 0.002 to whatever exposure your comfortable with.
My favorite Trading Tool :
Gunbot - the Automated Cryptocurrency Trading Bot
https://thecryptobot.com

Offline Ashkaan

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Re: GunBot Not Making Money
« Reply #8 on: March 23, 2019, 02:17:49 PM »
Thank you for the advice!

I set my GunBot to emotionless for buy and sell and the only change I made was to the trading limit to = 0.1.  Overall, it's very slowly losing me BTC.

I will try your settings out and report back  ;D

Offline olliecrypto

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Re: GunBot Not Making Money
« Reply #9 on: March 23, 2019, 03:57:39 PM »
big spender.
have fun with it.
i personally check the exchange a few times a day and focus on coins with tons of volume, and make sure that the volume isn't a p&d
i look for a the wave looking activity, and usually focus on those.
:)
My favorite Trading Tool :
Gunbot - the Automated Cryptocurrency Trading Bot
https://thecryptobot.com