What do I Need to do to Get Started?
You will need to register on an exchange in order to trade altcoins. If you live in the United States, you can use Binance US otherwise international investors can use the traditional Binance exchange.
Do My Trading Bots Settings Need to be Identical to yours?
There are millions of trading configurations that you can set up yourself. I share exactly what works for me and produce the results you see in my videos. The only exception is the base order and safety order dollar amounts will vary based on the bot I select. The critical criteria I select are identical.
Can I Run Only One or Two Trading Bots?
Simply put, no you cannot. That being said, you also do not have to run 43 trading bots like I do but finding a middle ground is important to establishing your own altcoin trading strategy. You should run enough trading bots to ensure your trading activity provides enough opportunities for profits throughout the day. Sometimes a low volume point-of-trading will get stuck for days (or even weeks) thereby taking a bot out of activity. That is why having multiple bots in action is important.
Why do I Even Need to Use a Bot?
Since altcoin trading bots only make $X/trade, why bother? Yes, they are low dollar amounts per trade but bots make up for it in trading volume. While you are off enjoying your life, they are trading on your behalf 24/7. Once all safety trades are filled, the number of trades will add up to significant profits! In theory, the more bots you have, the longer they are trading, the more money you will make!
I’m a Beginner, Which Altcoins Should I Start Trading First?
When starting out, choose an altcoin trading at a high volume. Reputable exchanges like Binance or CoinBase allow you to sort available coins based on 24-hr trading volume. You are looking for altcoins trading daily in the hundreds of millions and billions. You will discover more about selecting winning altcoins in chapter 2.
Is Trading in USD/USDT Pairs Preferable to BTC Pairs?
Typically, those pairs trading in dollars tend to follow the market as opposed to those pairs trading in Bitcoin (BTC) which can be erratic. Polkadot is a great example of an altcoin trading in USD/USDT. Altcoins based on USD/USDT are often volatile investments but tend to move together in a general direction. If you choose pairs based on Bitcoin as opposed to USD, you can easily experience more drastic swings. If you take a look at historical data, you will see how volatile BTC pairs have been. You risk funds being locked up into BTC pairs more easily than USD pairs.
Can I Make $100/day Using 3COMMAS?
It depends. First and foremost, how much trading capital are you allocating to your efforts? Without adequate liquidity to trade with you will not be able to profit. Then, how high is your risk tolerance? Some days are better than others but if you can stomach the rollercoaster your rewards will be higher than someone getting off the ride early. Finally, how many trading bots will you utilize? As previously discussed, the more active bots you have working for you, the more chances for success. Every altcoin trading strategy depends on setting realistic goals for your unique situation. Follow my YouTube channel for more in-depth looks and helpful guides!