thetradingparrot
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Now, later and market cipher update
🕑 Added 2021-05-23 18:28:07 +0000 UTCNow
I got rid of all my 3X leverage tokens. No way to recover them when a market crashes like this.
I'm going to be holding my spot positions and using spare USDT to run extreme bearish bots.
Later
I'm planning to add my largest red bags to grid bots as soon as we find a bottom for BTC. There's no point doing so now as the price keeps free-falling.
Once we find it I'll start running bots against BTC/ETH so I can accumulate it and have more for the bounce back (which can take weeks to months to make new ATH depending whether we can hold or not the 30K last low for BTC).
Market cipher Future bots are ready but
1) it's not the perfect time to run futures bots. Volatility is HUGE now, no market protection can't help on a market that moves from 2.6T to lower than 1.2T USD in a few days while fear index marks minimums not seen since start of COVID.
2) whenever the market is dumping, 3commas is not reacting to some of the signals (I guess it's the issues with Binance? we are investigating).
You can submit your futures bots and keep them OFF. We'll find a better time to try them. I checked the backtests of today and they look fine, but the reward now is not worth the risk.
Something positive
I'm convinced that this shake off, the more dramatic and the longer it last will eventually enable a larger pump back into unexpected ATHs. Markets repeat the same story over and over, "too high too quick? you get then a heavy and painful correction" and the same for the opposite "heavy and long lasting correction? unexpected massive pump from the bottom". For BTC to achieve new ATHs in this same cycle it needs to first dump. When BTC dumps new large investors, institutions and whales enter. Exactly that enables the price to rally back up. But they only enter once all the weak hands have already sold. They want the price to go to the 20s to enter. I personally save funds for this. But even if I didn't I will just use those red bags and BTC (even if it was bought over-priced) to accumulate more.
The last thing I will do is to panic sell at the bottom. That's what they want you to do.
Those come-back pumps tend to kick off as soon as you hear EVERYWHERE in social media that "there's no hope, that we are entering a terrible and indefinite bear market, etc etc".
Very soon we are going to see all media switching to bear, even in the news. And then suddenly one day: new bitcoin rally!
When even the strongest bulls turn bears, then the market flips back to bull. Not before.
Catastrophe bots
Extreme versions of Merita, Martyn and Dilan have been added to the bot dashboard, the bot risk page and each of the DCA bot pages (links are in the dashboard).
Make sure when you copy the bot that you are actually copying the "extreme" link and not the normal. I'm currently only running extreme versions as its the only type of bot that stands a chance to be able to close deals (Bakker is still on).
RSI levels of all these 3 bots have been reduced to become even more conservative for what could happen if we can't hold 30K tonight. Make sure you check them out again in case you don't have the latest copy.
Comments
looks like the bots page is blank , https://thetradingparrot.com/bots-dashboard?swcfpc=1 It worked for me yesterday, seems empty now.
Can you point us to how to setup a good grid bot for this market?
Can you elaborate on what an example grid bot strategy with red bags might look like?
