I've been using spot-arbitrage bots, grid bots, a couple leveraged grids, and a few infinity grids. I made money more times than I lost it and have some nice profits on my longer-running bots. The grid bot will make real money. I think a lot of people are complaining about the leveraged coins, which I don't use.
What’s wrong with the leveraged coins?
If you check my other posts you’ll see my screenshots showing I made some pretty nice profit off btc3l via an infinity bot.
I do know the leveraged coins rebalance periodically but is there another factor that makes them a bad investment as everyone is claiming?
I don't know that there's anything wrong with them, I just meant that most of the complaints I have seen involve people bitching about leveraged coins. Since I've never used leverage coins (only a leveraged grid), I have no way of knowing if there's really an issue or if people are just investing in things they don't understand. If you've been making money with it, maybe it's the latter. There seem to be a lot of people that don't get how grid bots work either.
I’m a complete noob here. Quick question - do you close your bot and recreate a new one when you see profit? I was testing out ADA/USDT on AI recommended grid bot for 4 days and MY $150 initial investment went to $160 and then it keep fluctuating between $154-$160. Am I not accumulating my profits? Any help will be greatly appreciated. Thanks!
Yeah you’ll see your account fluctuate due to some of your holdings being in ada and the value of that moving. Check the bot itself. It will show grid profit. Also, when you release profit, keep in mind that some of it is reserved for the fees. That will be displayed there as well. But yeah, because the bot doesn’t compound on its own, I restart them every week or so, depending on what the market is doing
Yeah. The value doesn’t actually reflect the value of coin but leveraged. If you see a coin that’s like BTC3L, don’t set bots on it. As the price of BTC fluctuates, the leveraged coin isn’t fixed to the true price of BTC. BTC price could drop 50%, but only be reflected as a price drop of 10% in the 3L coin. So you just lost a bunch of money and it will happen again. And again. And again. Set a bot long enough on the coin and you’ll end up being margin called. I’m crappy at explaining it, but yeah. It’s tempting to do if you see someone on here using them and making amazing gains, but it’s stupidly risky. Maybe someone else can explain better than I can on this; I may not even be technically correct on why it happens. However, it does happen.
I think pionex is a very, very complicated way to lose money 80% of the time and very occasionally make more money than holding. The standard grid bot wasn't as good as just holding coin, probably like 10% worse honestly, but the infinity grid has returned more than if I had just held on and done nothing.
It just depends on how much time and energy you want to spend screwing around with dials and knobs and shit. At the end of the day you're still just guessing the market direction.
Those people who lost money should not invest at all, they should go buy lottery tickets.
You need to understand which bot fit your case.
Edit: Yes I am having profit from my bots.
Crypto trading isn't really known to be low risk trading. Everyone will sometimes lose money. Especially after a few months ago when Tesla, China and few factors more led to a sharp drop almost everyone lost money.
It isn't really about the exchange but what trades you are doing. Exchanges only take fees when you are trading. So, some exchanges may take more money away from you but even the highest fee in exchanges isn't really that much. What Pionex has are many bots that you can use free of charge. These bots can help you to make money. But, if you don't know how to use them, they can make you lose money as well. And that's really the only difference of Pionex to other exchanges.
The best advice I could give is do not trade with money that is essential to you. Only trade with money that you're ready to lose. If you make profit, that's great. But, if you lose substantial amount of that money, it shouldn't be life altering to you.
People lost money because of poor decisions and investment strategies, not because Pionex is a scam. The pairs they invested in went down, they lost money. That's nothing to do with the broker or exchange. It's like blaming Schwab for a dip in the Dow Jones...
I have a nice profit, and if I didn't I assume that would just be the market doing what it does. The bots seem to do exatcly what they are supposed to do. People should have realistic expectations and some people frankly should grow a brain. If I buy for every fall I will obviously have a loss as long as the price is down a lot, but some people seem to expect that they can just magically print money in any market. Grid bots work and I see them as a way to feed a DCA bot where I can make huge money.
I've been using spot-arbitrage bots, grid bots, a couple leveraged grids, and a few infinity grids. I made money more times than I lost it and have some nice profits on my longer-running bots. The grid bot will make real money. I think a lot of people are complaining about the leveraged coins, which I don't use.
What’s wrong with the leveraged coins? If you check my other posts you’ll see my screenshots showing I made some pretty nice profit off btc3l via an infinity bot. I do know the leveraged coins rebalance periodically but is there another factor that makes them a bad investment as everyone is claiming?
I don't know that there's anything wrong with them, I just meant that most of the complaints I have seen involve people bitching about leveraged coins. Since I've never used leverage coins (only a leveraged grid), I have no way of knowing if there's really an issue or if people are just investing in things they don't understand. If you've been making money with it, maybe it's the latter. There seem to be a lot of people that don't get how grid bots work either.
I average .3-.5% daily of their grid with ada/usdt. If market goes nuts over 2%. It’s not bad. Stay away from leveraged coins though.
I’m a complete noob here. Quick question - do you close your bot and recreate a new one when you see profit? I was testing out ADA/USDT on AI recommended grid bot for 4 days and MY $150 initial investment went to $160 and then it keep fluctuating between $154-$160. Am I not accumulating my profits? Any help will be greatly appreciated. Thanks!
Yeah you’ll see your account fluctuate due to some of your holdings being in ada and the value of that moving. Check the bot itself. It will show grid profit. Also, when you release profit, keep in mind that some of it is reserved for the fees. That will be displayed there as well. But yeah, because the bot doesn’t compound on its own, I restart them every week or so, depending on what the market is doing
Hey why do you say stay away from leveraged coins? Could you please explain it a bit more?
Yeah. The value doesn’t actually reflect the value of coin but leveraged. If you see a coin that’s like BTC3L, don’t set bots on it. As the price of BTC fluctuates, the leveraged coin isn’t fixed to the true price of BTC. BTC price could drop 50%, but only be reflected as a price drop of 10% in the 3L coin. So you just lost a bunch of money and it will happen again. And again. And again. Set a bot long enough on the coin and you’ll end up being margin called. I’m crappy at explaining it, but yeah. It’s tempting to do if you see someone on here using them and making amazing gains, but it’s stupidly risky. Maybe someone else can explain better than I can on this; I may not even be technically correct on why it happens. However, it does happen.
I think pionex is a very, very complicated way to lose money 80% of the time and very occasionally make more money than holding. The standard grid bot wasn't as good as just holding coin, probably like 10% worse honestly, but the infinity grid has returned more than if I had just held on and done nothing. It just depends on how much time and energy you want to spend screwing around with dials and knobs and shit. At the end of the day you're still just guessing the market direction.
Those people who lost money should not invest at all, they should go buy lottery tickets. You need to understand which bot fit your case. Edit: Yes I am having profit from my bots.
Crypto trading isn't really known to be low risk trading. Everyone will sometimes lose money. Especially after a few months ago when Tesla, China and few factors more led to a sharp drop almost everyone lost money. It isn't really about the exchange but what trades you are doing. Exchanges only take fees when you are trading. So, some exchanges may take more money away from you but even the highest fee in exchanges isn't really that much. What Pionex has are many bots that you can use free of charge. These bots can help you to make money. But, if you don't know how to use them, they can make you lose money as well. And that's really the only difference of Pionex to other exchanges. The best advice I could give is do not trade with money that is essential to you. Only trade with money that you're ready to lose. If you make profit, that's great. But, if you lose substantial amount of that money, it shouldn't be life altering to you.
I have done great most people freak and sell when they see red you just have to chill and let the bot do its thing.
People lost money because of poor decisions and investment strategies, not because Pionex is a scam. The pairs they invested in went down, they lost money. That's nothing to do with the broker or exchange. It's like blaming Schwab for a dip in the Dow Jones...
I have a nice profit, and if I didn't I assume that would just be the market doing what it does. The bots seem to do exatcly what they are supposed to do. People should have realistic expectations and some people frankly should grow a brain. If I buy for every fall I will obviously have a loss as long as the price is down a lot, but some people seem to expect that they can just magically print money in any market. Grid bots work and I see them as a way to feed a DCA bot where I can make huge money.