When to turn on & when to turn off your tradingΒ bot?

This question is probably one of the most important questions you should ask yourself.

You can have a great bot strategy that’s netting you 1% to 2% a day on your entire portfolio but if you end up with 5% bags doing so you’ll need a day or 5 to get to break even and that’s not really a great strategy is it?

Avoid weekends

Weekends usually mean less volume, slower markets and more chances to fill up bags, from my experience it’s not worth it. If you have to trade during the weekend do a few manual trades. Your wife and children will also appreciate you spending less time watching your bot trade and more time with them (admit it you’re watching that screen 24/7 even at work).

Use triggers

If your bot has trigger functionality (Crypothopper or Apex) use it to monitor BTC (or ETH if that’s your base currency) fluctuations. You can set up triggers to turn the bot on or off or switch strategies.

Keep an eye on an altcoinΒ index

https://controlaltshifts.com has an Altcoin Trend Index and it shows you the best moments for trading alts.