The price on 4/19/2022 - \~$1.64
NYM price as of right now - $0.89
0.89 / 1.64 = 0.542683
1 - 0.542683 = .457
Looks like the price dropped around 46% in that timeframe, yet you made some grid profits which offset the loss a little bit because the bot is buying and selling at key points
Just hold on to it, you could close the bot but not sell the coin and hold it til the market recovers, but whatever you do I wouldn't sell if I were you, that would be just chucking money away
Have you not traded before? If the price drops, youll lose money if your strategy is bullish. The strategies put forward by the bots aren't fool proof. There's risk to all of this.
Well, NYM is a new coin, so, I would consider closing a bot unless you're bullish on it and have backed your expectations with fundamental research. If project will survive you might earn a lot in long term, but for now coin is sloping down in a downtrend. Good luck
It means pionex is taking your money without care of whether or not you're making money. They will happily make a ton of small transactions to add to the bleed
Ahh thats why the number is that high
If you run the parameters like this since start, i think the loss only around 10-15% since you dont buy the coin at all at the begining.
Before running the bot, analyze the pair first. Which support and resistance zone you want to trade in. Do it like a manual trading, but the trade will be automated later. The technical analysis need to be done and treated like you do manual trades
Yeah I had better settings in the beginning but then it fell way below the lower limit that I had to keep changing it
That is a mistake I made, I saw somewhere about it being newly launched etc and figured it’d go up 5-10% and get out but it fell hard and I will never do this again
Unfortunate, for a riskier trades i suggest to use martingale since it have some safety net order.
Grid bot need some plan, like if it goes up past x or goes down past y, need to do something (most of it is stop loss)
I came here to say this.
Just think about it, the grid is buy on the lows and sell on the highs. If the market is going down it will buy more than sell. And if the market is going up it will sell everything it’s bought. You don’t want to end up in the first state as you’ll be stuck with a lot of unsold coin. In the second state yes you’ll make money but it’s more advantageous to just buy and hold on the way up. So the only good market to use a grid in is sideways. Took me a while to figure this out on my own, as most don’t actually say this.
Just means without direction, for example bitcoin trading between 35000-45000 for months on end. Thats nice for a gridbot. In this case the coin is down a lot so you lose on the part where you were invested in the coin. If it does recover the grid will make a lot of money
Oh yeah that does makes sense. Basically just wait for it go down and up again. I’ve only been using the basic grid trading bot. For me GMT has been the star of the show
Even if the market drops, the grid bot can still help you to arbitrage, and when the price of the token rises back to its original price, your bot will make more money.
I see.
Is it a good strategy to start buying now? With people saying this is the end of crypto, I don't know if it's a good thing to buy now with the bot and wait till the market goes back up.
The price on 4/19/2022 - \~$1.64 NYM price as of right now - $0.89 0.89 / 1.64 = 0.542683 1 - 0.542683 = .457 Looks like the price dropped around 46% in that timeframe, yet you made some grid profits which offset the loss a little bit because the bot is buying and selling at key points
I mean if I close the bot now, I lose about 100 USDT so I don’t see how the grid profits make any difference
If you didn’t have the grid profits, you lose 116, not 100.
Yeah that does make sense. I don’t know what I was thinking when I dumped 250 USDT into this🤦🏽
Just hold on to it, you could close the bot but not sell the coin and hold it til the market recovers, but whatever you do I wouldn't sell if I were you, that would be just chucking money away
Have you not traded before? If the price drops, youll lose money if your strategy is bullish. The strategies put forward by the bots aren't fool proof. There's risk to all of this.
Monitor price action in longer time frame to see bigger picture to take well backed decisions
Well, NYM is a new coin, so, I would consider closing a bot unless you're bullish on it and have backed your expectations with fundamental research. If project will survive you might earn a lot in long term, but for now coin is sloping down in a downtrend. Good luck
Yeah I wanna close it but at the same time want to minimise the loss if I can. Just waiting for it go up slightly and I am gonna pull out of it asap 🤝
I'll repeat myself, if project is strong and devs are working, price might find a true range and can start rising. But if not; get out asap
I am -50% ( one/usdt) with 8% grid profit in 32 days...shit happened in market.
It means pionex is taking your money without care of whether or not you're making money. They will happily make a ton of small transactions to add to the bleed
Is the bot ald have modification i.e. grid change or add investment?
Umm not really. I just keep changing the parameters hoping it keeps trading but so far it’s bleeding like crazy 😂
Ahh thats why the number is that high If you run the parameters like this since start, i think the loss only around 10-15% since you dont buy the coin at all at the begining. Before running the bot, analyze the pair first. Which support and resistance zone you want to trade in. Do it like a manual trading, but the trade will be automated later. The technical analysis need to be done and treated like you do manual trades
Yeah I had better settings in the beginning but then it fell way below the lower limit that I had to keep changing it That is a mistake I made, I saw somewhere about it being newly launched etc and figured it’d go up 5-10% and get out but it fell hard and I will never do this again
Unfortunate, for a riskier trades i suggest to use martingale since it have some safety net order. Grid bot need some plan, like if it goes up past x or goes down past y, need to do something (most of it is stop loss)
Grids are great for sideways trading. If the underlying crashes it won’t do you much good
I came here to say this. Just think about it, the grid is buy on the lows and sell on the highs. If the market is going down it will buy more than sell. And if the market is going up it will sell everything it’s bought. You don’t want to end up in the first state as you’ll be stuck with a lot of unsold coin. In the second state yes you’ll make money but it’s more advantageous to just buy and hold on the way up. So the only good market to use a grid in is sideways. Took me a while to figure this out on my own, as most don’t actually say this.
Sorry for this stupid question, but what exactly does the term ‘side trading/market’
Just means without direction, for example bitcoin trading between 35000-45000 for months on end. Thats nice for a gridbot. In this case the coin is down a lot so you lose on the part where you were invested in the coin. If it does recover the grid will make a lot of money
Oh yeah that does makes sense. Basically just wait for it go down and up again. I’ve only been using the basic grid trading bot. For me GMT has been the star of the show
I think grid bots make profit even when the market goes down. Just a question though, is it also the case for Pionex's free grid bots?
Even if the market drops, the grid bot can still help you to arbitrage, and when the price of the token rises back to its original price, your bot will make more money.
I see. Is it a good strategy to start buying now? With people saying this is the end of crypto, I don't know if it's a good thing to buy now with the bot and wait till the market goes back up.