With the speedy progression of financial markets and related technologies, trading bots are now a go-to instrument for a large number of investors looking to streamline their trading strategies.
In this article we will take a closer look at the world of automated trading through the eyes of a seasoned user of RevenueBot and discuss some of the challenges they encountered early on, their approximate monthly income, as well as check out a couple of tips and tricks for beginners.
What is your age, education, and how did you learn about crypto?
I’m 37, a doctor by training. Discovered crypto back in 2015, during the mining boom. Until then I knew there exists such thing as crypto, but I didn’t know much about it. That’s when I also started to study the subject of exchanges and crypto in greater detail.
How did you arrive at the idea to trade on crypto market? Did you have experience trading on traditional markets at the time?
It was at the same time that I made my very first attempts at trading. I came to realize that crypto is not a scam at all – these things have a real value like money do, so it’s possible to earn them, as well. Back then, I had absolutely no experience in stock markets, I gained it much later, but I made the move into this field as soon as I learned a lot about crypto, so now I keep developing my stock market business.
When and how did you find out about RevenueBot?
It was fall 2019 when I came to know about RevenueBot. I realized I hardly had any spare time and I felt that trading manually was quite tedious for me. I investigated into the matter, analyzing the crypto market and wondering if there’s some kind of a trading bot out there. That’s how I came upon this platform. I decided to opt for it because of the prices they offer. It seemed quite affordable for me to pay 20% service and to deposit as much as $50, especially since I didn’t really trust such kind of solutions – I’ve seen a lot of bad reviews about it on other websites so I thought it would be unreasonable to pay a fixed amount of money each time I use it. Besides, while having such a thought-out payment system, it hit me that the platform itself is concerned about my profit, so that I could share some part of it with them. So I made a 100$ deposit and started checking it out.
Was it difficult for you to figure out the basics of the platform’s functionality? How long did it take?
It wasn’t especially hard for me to work things out. There’s plenty of useful info on the platform itself, not to mention all these people in the chat who turned out to be responsive and answered to all my questions. I seemed to enjoy going through all the settings and their combinations, evaluating how they affect my income and exposure to risks. Time-wise, it took me about a week of lazy research, just when I had the time and the right mood to do it. Later on, however, poor market activity made it clear to me that I’d better look much deeper into trading bots.
If possible, could you name us your most profitable month, in actual numbers or interest rate?
Some of my most recent achievements are 500% added to my deposit as of April 2024. I set Aggressive trading mode for my bot during the booming market, but still I had to keep track of the bots’ performance quite a bit. Another thing I remember was when I first managed to set all the service fees to “0” on all three types of trading – at the time, Elon Musk was pumping his $DOGE heavily so the bot indicated the profit was ‘to the moon’.
Some time ago you said you taught your relatives how to trade using RevenueBot. Could you tell us about it in more detail: how did you come up with the idea, how your relatives took it? Were there any difficulties?
Well, they don’t necessarily trade crypto, it’s more like they just supported me in my endeavor. Though my mom once made a small deposit in crypto, which is still working and boosting her pension bonus a little bit. I still have to help her get into all of this, of course – she does need my help when it comes to withdrawing – but I see it as a pleasant trouble, actually.
Speaking of my friends, they are definitely using bots for trading, yeah. Some had been already aware of crypto but were too afraid to try it out, others I taught by myself.
In case of a long-term downtrend or uptrend, are you mapping out your strategy to avoid draining your deposit?
After my portfolio suffered a pretty huge losses and a couple of liquidations following a few drops in price of some coins, I reworked my trading strategy completely. For this reason, I implemented my own money management and risk management. As it turned out, all this time I had been trading like many others, without using these two methods.
What’s more, I refined almost all bot settings and made my own trading system powered by bots – that’s when I felt ready for ups and downs. If coin price falls, bots with short algorithm start running, generating income during futures trading, while accumulating coins during spot trading. In contrast, bots with the long algo operate during price rally, while bots with the short algo sell these coins, locking in profits. And since I trade 90% of my deposit during spot – I am no longer afraid of coin spillages at all. I think of it as an opportunity to average better and buy more.
Any suggestions on what you’d change or add to RevenueBot’s functionality it has now?
I’m totally fine with the current features. One would always like a speedier processing and a couple of perks like new filters and profit settings, but as far as your platform is concerned, there’s a lot of interesting stuff here already that can and should be implemented.
What tips would you give to RevenueBot newcomers who are not much experienced in automated trading?
Learn, learn more, learn forever. You can’t get anywhere without learning about the crypto market. Crypto is still considered a young and ever-changing industry, something new is always popping up. As time goes on, the bot configurations that you thought were useless may reveal themselves in another market stage or even in your renewed trading strategy. Trading crypto is way too tricky, while algo trading is far from being some “make big bucks” button either – it requires you to do research just like you do with any other financial instrument.
Take it slow. Lots of people do their best to earn all the money in the world in one go, for we live in a time of advertising a successful and luxurious life. That’s why beginners often dump their entire deposit into the instruments they lack knowledge of. As a result, they lose most of their earnings or just the whole deposit, feeling disappointed with the trading bots. Start with a $10 deposit, see how your bots perform in both a rising and declining market.
Keep trying something new. No matter how successful you are and how steady your profits are, there will always be options on how to gain more or reduce your risks. Despite 5 years of active algotrading, I still manage to find more and more algorithms and trading ideas for myself all the time.
Do not believe anyone who promises you “make big bucks” button. The same is true about interacting with shady bots and market players in general. Crypto is notoriously full of scammers and their number is never likely to shrink in the near future. Keep an open mind to everything they offer you because scammers can be so damn persuasive – take your time, do not rush to hand over your money to weirdos on the web.