Danger! What to Do With Out of Range Crypto Bots… Even if They’re Down a Mammoth 70%
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With the crypto market, along with every other market, down so low at the moment, many crypto bot traders on Bitsgap are experiencing crypto bots that have fallen out of range… and are wondering what to do about them. We have a few suggestions that will get you back in the game!
The following is an edited version of the video transcript…
ARE YOUR CRYPTO BOTS EXPERIENCING THIS?
Hello, it’s Jodie here. I’m writing this post with the hope that it will help anybody who actually has experience putting on Bitsgap bots.
Or, if you are following The Plan, with the settings and parameters from Dan Hollings, and you have an experience that looks something like this…
Maybe you started a crypto bot and then the coin value just went down, down, down, and then your crypto bot fell out of range.
This screen capture is a shared Bitsgap account from one of our Bot Buddies who has been busy traveling and wasn’t able to get back in touch with our community until just now.
I’ll get right back to discussing the Bitsgap account, but do want to quickly explain what the Bot Buddies Community is.
When you join Dan Hollings The Plan through our affiliate link, among eight other valuable bonuses you receive for free, you become a member of our exclsusive Bot Buddies community where you get 24/7 support from us and other Plan students, plus twice-weekly live calls on Zoom. As a member, we are here for you at any time and you can reach out to us.
It’s amazing how many people just try to work their crypto bots out on their own. But, why?
We provide everything for you. We provide the support, we’ve got a Slack chat group. We’ve got live weekly calls. I know not everybody can get to the live weekly calls, but we are here available and here to help if we can.
So, back to this particular crypto bot here. I believe this crypto bot shouldn’t have been left this long, it’s been out of range for a very long time. It has virtually no daily wiggle because it fell out of range at the end of November.
Yep, in the first week of its life, this crypto bot fell straight out of the bottom of the grid. That was the big December crash.
So to follow Dan Hollings rules in The Plan, we absolutely are told to do nothing.
But there came a period where Dan Hollings was actually giving some updates through January about the choices of what could be done for our crypto bots while we’re waiting out this bear market to pass.
Where we’re sitting right now it really does feel like it’s about to turn around, but nothing’s ever guaranteed. So please take what I’m about to share with you as absolutely no financial advice. This is just an example of what I would do with our crypto bot if I was in this situation.
In this actual account, there is one active crypto bot at the moment, and there are two out-of-range crypto bots.
And the crypto bot that’s been out of range for the longest period of time actually has a loss if it was to be shut down today, of over $2,000.
Okay, it’s pretty much just over $2,000 when you consider that a little bit of profit did get made in that first week. So taking that $79 off here, it’s $2,120 if it was to close right at this point in time.
You can see this in the screenshot below.
So when is it that you realize or actualize a loss on your crypto bot?
It’s when you just close the crypto bot and sell the coin.
This particular bot started with just 3,377 RFOX.
Because it went down, down, down and down, what the crypto bot does is almost like a DCA, dollar cost averaging, buying more and more and more of that coin.
So as the market turns around, you start selling more of that coin, and you get all the profits on the way back up.
This particular crypto bot didn’t do that. It just went down and it has stayed down right through these last three months of this bear market we’ve been experiencing.
Now there are 11,356 of these RFOX. But the problem is the crypto bot got started when this coin was worth about 29 cents. And currently, this coin is only worth 6 or 7 cents.
That’s why there is a total P&L saying -$2198. But as I said, we take the $79 off. That’s already been paid out in profit. So it’s just over $2,100 that would be an actualized loss.
Now, before I actually say what it is that I would do, I’ll just quickly show you the other crypto bot that’s out of range. So let’s pull up the information here.
So this crypto bot, or this token, started with 2,909 STEP and it’s now got 13,461 because it did wiggle along for a while and it made profit, and the profit’s already been paid out in US dollars into the exchange, which is the FTX exchange (our favorite exchange BTW!)
To actually realize or actualize what looks to be a loss here, you have to calculate that even though you’d be closing out the crypto bot taking just $3,000, when you started it with $3,400, you’ve also already received $700. So in this case, the net balance is still a $300 gain.
The decision on this STEP/USD one above, I don’t know. It’s a tough one. It’s saying that there is a minus 11% change. There is a good chance that this crypto bot will come back into range. We’ve started having quite a bit of movement in the last few days. So this one, I would probably sit and wait it out, do what Dan says, follow the true Plan, and actually just leave this one alone, do nothing.
We know that sometimes the crypto bots are going to go out of range. So really this is a case of just letting it sit. But the first crypto bot we looked at, just had a bad start to its life. It was unfortunately timed and it probably went on for far too long. And it’s almost like a rite of passage when you do get into a market that suddenly has a huge dip.
As we always say, the crypto bots will work in a down market. But they don’t work that great when they were working fine in an upmarket and then the market totally crashes.
So if you pick that bridge between being in a down market and previously being in a high market, then there are aspects to the crypto bot that you can’t change that can result in this loss, but only if it stays down for as long as it has been.
It’s one of those things, wisdom in hindsight, and again, showing the importance of coming along to a community.
We created our Bot Buddies Inside The Plan so you can learn from the people that went before you. By having direct experiences, we have been picking up how to start to see the signs for our crypto bots.
We’ve now gone through a couple of down markets and a couple of high markets. And the people that only just recently started The Plan back in December 2021, they’ve really only experienced the down market. So they’ve been getting great wiggle along the down market, but now they’re about to experience their first up market, or at least that’s what all the indications are showing anyway.
So my suggestion here, again, is not financial advice, but in my case, with the RFOX/USDT crypto bot above, I would be looking at my overall available crypto funds. And I would probably actualize or realize this loss in the sense that there’s $800 here that can be going to one-third of a new crypto bot.
I believe it’s worthwhile putting in another $2,000 to start a brand new crypto bot that could actually be wiggling really, really well.
Even one of my own current crypto bots has just blown out the water. It’s like over 2% a day. So with that kind of daily wiggle and daily profit on top of what the value will be in the coin going up, I believe personally that this amount here of minus $2000 wouldn’t take very long to recoup.
That’s just my suggestion and probably what I would do. It’s not even about the crypto bots.
If you literally had just bought a coin on the 29th of November-this was the day the coin was bought in order for the crypto bot to start running. And then it lost a lot of value.
That’s what happened to the people who bought Bitcoin when it was at $60,000. Now it’s back to $47,000, and it got right down to nearly $30,000. It can be really firing off some emotions inside going, “Oh, I made the worst mistake! I’m like the worst person ever. I hate crypto. Crypto sucks. Everything’s wrong with it!”
No! The point of The Plan is to teach you that you can actually profit from the volatility of crypto. You just need to understand the overall rules and even the different ways of looking at the wallet you have.
So in this particular case, one hand would say, “Oh, I’ve just lost $2,000 worth”… then put a little bit more in. It’s not gambling. It’s literally like putting some more in to say, right, let’s actually now make this new crypto work, and bring the balance of the books back together.
Then eventually it will go the other way as well. It’s like borrowing from one hand into the other. Oh, I could talk about it for ages! It’s the mindset and just remembering that there is no loss until you sell a coin.
That’s what I’m saying to do. It sounds crazy, but I’m saying to do that in this particular case, and this is really coming off the back end of one of the updates that Dan Hollings gave to all the people in The Plan just only a week or so ago because it can be made up when you have a broader portfolio.
There is actually a crypto bot working great for this lady in our community. She’s got one crypto bot here that’s making 5% average daily (LOOKS/USD below). That’s just crazy, that the numbers can be like that.
But yes, you can actually make it up, is how I look at it.
So one thing we do love to say inside The Plan and our Bot Buddies Community is “don’t dread the red” because it can turn back around.
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About Nat n Jodie
Hi, we’re NatnJodie, full-time travelers, international house sitters, and lovers of crypto!
In 2012, we lost everything in a business startup in Dubai. Instead of going home to Australia, we started our full-time traveling lifestyle as international house sitters… with just $300USD to our name!
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