The Trials and Tribulations of a Noob Crypto Trader - Part 2

If you are interested, read my initial post, give it a read here.

It is roughly 2 months since I last posted, the market is still kicking my ass and I am still hurting from the painful lessons that I have now learnt. Most importantly, TAKE PROFITS!!! I cannot stress that enough. There are 3 things that I am raising money for this year; a car for my son to learn in, an overseas trip for my daughter with her dance school and a family cruise at the end of the year. I had enough profits there to cover it, all of it. Now, I am only a couple of thousand up and full of remorse.

Of course, I will be ready next time there is a surge. I am not going to make the same mistakes again. Only thing is that I am not convinced that we will ever see the crazy run that crypto went on in January 2018 ever again. i have no doubt that Bitcoin will get to it's ATH and beyond, I just don't see it going in the same crazy manner again. People like myself are going to be a lot more cautious, taking more money out of the market, slowing the ascent. That is of course, pure speculation and I am wrong more often then I am right.

Since I last posted I have bought into micro trading with a bot. I have looked at a few but finally settled on Profit Trailer.
(https://profittrailer.com/)

There is a bit of tinkering to get it started, but to be honest there are enough youtube videos available to step you through everything and the community is very open on Discord so it is dead easy to copy and modify other people's settings files.
Am I going to get rich and tick off any of the purchase listed above? Nope. But it is addictive!! I can't help it, I am checking my bot constantly to see if I have had any more sales. Have my DCA bags improved, am I up on yesterday. It goes on.

I am not playing with a lot of money here. I have about 1 Eth invested and it is up to about 1.2 Eth in approx 6 weeks of trading. I have had just under 600 trades to make that 0.2 Eth profit so you can see that it does not pull in a lot of cash each sale. In fact the average profits that I am pulling in anywhere from 10c to a couple of dollars. If you add that up over the course of the day, an ok day might be $10. This is all compounding though so over time those profits will start to get a little bigger. Again, I have no expectations of making a fortune off this, but it is a nice way to keep the interest alive while the market is so horrible. Even with the prices dropping, you really only need upward movements of about a percent to get things moving.

Full disclosure, Profit Trailer is not free, it set me back 0.03 Bitcoin for a single exchange license where you can use it on Binance, Bittrex, or Poloniex. You can trade either Bitcoin or Ethereum pairs. I started with Bitcoin pairs on Binance and found it really tough going. Might have just been the timing, I am not sure, but I changed to Eth and had instant results. A week or so ago was really rough but it is slowly working its way out of the doldrums and sales are picking up. I hope to have it payed off in another 6 weeks or so and then I am in the clear.

Something that is available as an add on that will not set you back anything, is Profit Trailer Magic.

It is in no way affiliated with Profit Trailer as far as I understand, but my god is it a great add on. The devs are incredibly active and update it very regularly with requested add ons. Pretty much anything that you can think of as a great idea, they will put into practice in good time. It helps analyse all of your Profit Trailer data is a way that is clear and concise and can modify your bot's buy and sell settings based on what the market is doing at any given time. This is perfect for a volatile market where you cannot be watching it 24/7. Again there is a heap of help available online for configuring PT Magic and without that help it could be quite confusing. I would highly recommend this ad on should you get Profit Trailer, and remember, it is free.

That's all for now, I will update the Profit Trailer soon.