They say you don’t have to sit constantly in front of the chart, waiting for green and red candles. The market will always be there the next day with a new opportunity. Is that really so? Can we safely miss opportunities, can we still be positive in the long run?
In this article, I will show you what happens when we can’t always trade. How much does this simple fact affect your results? And I will also show you how to solve this problem once and for all.
What happens when you sleep?
You sat in front of the chart all day. Your favorite coin has been siding all day. Small candles, no price action. Your strategy based on the stochastic indicator gave signals three times that day. You got into the trades, and all 3 became losing trades. It’s late, and it’s been dark outside for a long time. So you decide to go to sleep and sit down again to trade tomorrow.
Does it matter?
The crypto market, unlike stocks and even the weekend forex market, never closes. As long as you sleep, the market is still moving. The other part of the world just started its day. Someone is still trading.
If you live in Los Angeles, you have done very badly in the example above.
Why is this important? There will be another setup tomorrow anyway.
When building a strategy, it’s good to keep in mind that we won’t win every single trade. We can only win a certain percentage of trades. Eg 60% or 50%, i.e. we win in half of the cases.
Imagine you are playing a game with one of your friends in your kitchen. You are tossing coins one after the other. If it is a head, your friend will give you $5. If it is tail, you give him $5. Your first 2 tosses are heads, then come 3 tails. But then you receive a call from your uncle who lives 2 blocks away. Your friend continues to play without you. Now, you don’t see the next 5 tosses. Just like when you are sleeping.
The next 5 tosses are 4 heads and 1 tail. Since you left the game, the next 5 tosses are not counted. Even though you had won four times in a row now, you couldn’t participate in it. You should have won $10 in this game, but you have lost $5.
In trading, this is what happens when you sleep.
You have a strategy with a win-rate of 60%. This number can only hold itself if you enter each trade setup. If you miss more, you may miss exactly the ones you would have won. So even a winning strategy will lose. After that, you won’t stick to it and you will sit back at the table of eternal strategy testers.
The opposite is also true. Sometimes the strategy gives good results, but only because you were present at the very opportunities that came in. In the long run, this benefit is sure to start losing.
You can only be sure that a strategy works if you don’t miss out on situations to make a profit and you still succeed. You’ve been making real money consistently for months, right? This is the goal that every trader desires.
It is impossible to monitor the markets 24 hours a day.
This is also one of the leading reasons why only five out of a hundred traders are successful.
What is the solution?
So you need something that doesn’t sleep and doesn’t miss out on opportunities to make a profit. The answer is automation.
A Trading Bot watches the market for you in every minute of the day and responds when you need it. Not only does this give you free time, but it also reduces the stress of trading.
Do Trading Bots Work?
Undoubtedly, it is difficult to find a good trading bot. It’s even harder to develop.
Here are the results of the b-cube.ai Bulls & Bears AI Bot:
This Bot is the result of intensive research work. It was developed in collaboration with the world’s number one university of mathematics, Universite Paris-Saclay. We have been testing since March 2020 and have been showing excellent results ever since. At the time of writing, +67.34% is the total profit we have generated so far.
From this week, you too can start using this bot. Available from November 2020 on b-cube.ai. At €59 subscription per month. Plus, you will need a Binance account on which the Bot will trade.
Algorithmic trading has taken over 80% of the markets over the last 40 years. Why would you stay out?
DISCLAIMER
Trading cryptocurrencies involves risk. The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the article’s content as such. Author, website or the company associated with them does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions. Lastly, this article is not targeted at French citizens or residents.