I just want to let everyone know that we are on track for V2 release next week.
The code has been entirely rewritten from scratch and several important features added such as:
-Support for BTCE
-Server Back End to improve stability and support
-Fiat Reserve
-BTC Reserve
-Increased speed, and versatility.
-No need to reset, just set it and go.
-Recoding of "Trailing Stop Loss," bot is disabled when TSL is triggered to avoid rebuy fess.
The website and the bot interface are also going to be relaunched, we hope everyone loves the new product!
BUY NOW: There is still time to get in on the "Early Adopter" deal before we launch V2. Anyone who purchases before the V2 launch will receive a FREE 1 year subscription to V2, an HUGE value.
If anyone has any questions, please drop me a line.
Pablo.
www.btcbots.com-Recoding of "Trailing Stop Loss," bot is disabled when TSL is triggered to avoid rebuy fess.
Could you explain more about this particular feature?
Hi,
Yes, I'm happy to explain
.
Trailing stop loss allows you to set a value which is a percentage. Then the bot will sell all your BTC for USD if the max price of BTC since you turned on the bot falls below your Trailing Stop Loss setting by the percentage you have specified. It is a safeguard feature in case of a crash.
In the past, if the TSL was triggered but the market went up again, the bot could in theory rebuy incurring possible losses through fees. We have recoded it so that a TSL trigger will pause the bot until an operator has had a chance to review everything and reset it.
We believe this mode will be much more efficient.
Please let me know if you have any other questions
,
Pablo.
Trailing Stop Loss = A percentage value. (Got it)
"Then the bot will sell all your BTC for USD if the max price of BTC since you turned on the bot falls below your Trailing Stop Loss setting by the percentage you have specified. "
TSL is 1.0 %
If Max_Price_of_BTC < TSL
Then
Sell_All_BTC_For_USD
"It is a safeguard feature in case of a crash."
Huh....?
< I am confused.
=================
I understand that TSL is made to tackle a very critical problem of the average price going
up rather than
down. In day trading you cannot honestly lose if you turned all BTC to USD and the price plummets. (except in cases where it reaches zero)
You'd always want to increase your BitCoins by following a basic principle.
A) Sell your BTC for USD At the highest peaks, B) then when the price plummets buy the coins you sold plus whatever else extra you can afford at the lower price point. C) Then, when the price goes up again, you resell the BTC for USD again and you end up with more USD than the first round.
The only way to lose in this strategy is if (Part C) never happens again OR (In part A) you sell too low and misjudge where the peak is.
So Trailing Stop Loss is there to prevent (Part A) from happening or limiting the loss (Stop Loss percentage?). Do I understand this correctly? Or is a Trailing Stop Loss different than a regular Stop Loss?
----------------------
What is catching me off guard is that you are supposed to be using TSL as a function to determine where there is a loss by the average price in a period going up (after a Sell_All_BTC gets triggered). Or did I just read that wrong?
Usually a "crash" is defined as a downward market. If this is the case wouldn't it be extremely profitable to ride the market downhill and at the lowest crossover signal to trigger a Buy_All_BTC?
Or is B-Bot's strategy completely different from what I have described? (I know, I know, "Trends" not "Day Trading")
