Entering the World of Cryptos – An interesting study over 1 month…
I worked with Pradeep Simhan, one of the Carnival regulars, over the last one month and learnt from him insights to Crypto Trading, concepts, strategies and tricks of the trade. The guy appears to be brilliant at his craft.
Twitter followers of @traderscarnival may recall Pradeep and I had gone on a 3 day fishing trip recently – he has all the serious fishing paraphernalia – all professional stuff.
A simple bot was used to automate trades. It included most non leveraged coins – altcoins, also called ‘shitcoins’ which is something I have never understood.
The study was put into implementation on 4th Feb 2021.
I then set out tweaking those inputs with a simple bot and achieved the following results.
Start of study – 4 Feb 2021
No. of Trades activated till date – 257
No. of successful trades -253
No. of ‘panic sold’ trades – 3
No. of active trades – 1
Profit per trade – 1% to 3%
Oh, did I tell you this strategy does *NOT* have a stop loss? yes, and it is all in cash, no futures/perpetual contracts.
Beginner’s luck or a brilliant discovery?
Time will tell.
Well, Pradeep and I plan to present this study together e on stage for about 20 minutes at Goa sharing details on this fun experiment. Those participants interested are most welcome to join this discussion.
For the record, one exchange with an API and one 3rd party algo trading platform was used for this study.
Leave your comments and inputs on the tweet please, thank you