And since then, bitcoin has fallen from forty thousand dollars to twenty thousand dollars and i made but to find out exactly how much i made youre going to have to stick around until the end of the video. But first i want to cover what is a crypto trading bot and the different types that are out there. Crypto trading bots are simply computer programs and algorithms that trade different cryptocurrencies based on different parameters and predefined conditions, and once those parameters are set, theyll automatically make profitable trades or at least thats the goal. And not only can they make money when the markets going up, but some can make money when the markets going down, and this is achieved by betting on bitcoin or that crypto is going to go down. So when i was looking for different crypto trading bots, i wanted to make sure that the bot i was going to use was going to have this feature. However, coming up with these profitable parameters is one of the most difficult parts of creating a successful trading bot, and i saw three ways i could try and achieve to do this, the first one being. I could take a course or study on how to create profitable parameters, and this would definitely take a lot of trial and error. The second is, i could hire an expert or a third party contractor to build the bot for me, or the third thing i could do is just buy a bot thats, already pre, packaged and ready to go.

Before i tell you which route i went like the algorithm of these trading bots youtube runs on an algorithm that has a constant hunger for the like button. So if you could do me a favor and hit that like button, it would really help the video out. So the first option of me taking a course or learning how to create a successful trading bot myself wasnt an option. I dont have that kind of spare time which led me to go to option number two. So i tried to find a third party contractor to help me set up a successful trading bot. So i headed over to one of my favorite freelancing websites, upward and thats when i posted an ad looking for someone to help me out, and i sat down with about 10 different people, and what i found is is that they would help me create the bot. But thats different than setting up profitable parameters, and i would have to find those on my own. In essence, i would be paying a few grand for this trading bot and i really wouldnt be able to do much with it without having those parameters. So then, i began the hunt of trying to find one thats already set up that i could buy that i could plug my money into, but these trading bots arent, cheap, theyre, ranging from a few grand upwards of 10, 000 plus and my biggest skepticism is – is That if these trading bots are so great, then why are all of these day traders still trading manually? I would think that they would all just be using trading bots at this point.

Secondly, is i would see all these youtubers talking about their profits, theyre making from these trading bots and these youtubers? I saw talk about them. I really just didnt trust to begin with, so i didnt feel comfortable forking over three thousand dollars on a trading bot. So i decided to just put it on the shelf for the time being, but thats when i had a friend hit me up and hes actually selling his trading bot for 10 grand, but he was going to. Let me try for free. So i figured hey: what do i have to lose here? Im going to throw in you know 12 527 dollars, which is what i had on me at the time and im just gon na see what happens here. I figure it would be a great case study and he did show me his accounts before i put my money into it and at that time this was peak oron mind you. He turned about thirty thousand dollars into about fifty thousand dollars in the course of two months, and i was told on average that a fifteen to twenty percent roi is typical, but a worst case scenario, being five percent roi per month and thats a pretty great worst Case scenario: five percent per month, so im still having some hesitation at this point, once i put my money in how exactly does this work in theory? The way this should work is once my bot is set up, i put in twelve thousand five hundred dollars and it will take a portion of my money and start placing trades, but no more than three trades at a time, and this means that if i get Into a trade on a steep decline, it could be in a trade for a while, and essentially this is the worst case scenario where the bot could get stuck in a trade and theres an opportunity cost there, where the bot cant make trades to make money, and Given the fact that the crypto markets are 24 7, this bot is 24 7 as well.

So lets say that the bot saw that bitcoin was at 40 000 and the boss sees based on the trading patterns that bitcoin might go down to ‘k itll place a buy order with a fraction of your bunch for bitcoin at that price and then sell when It goes back higher, locking in your profits and, as time goes on, it will take your profits and then compound it on your original investment and in theory, your money should grow over time, but this bot also uses leverage, so it could take out of your 10k Balance or, however much you put in it, might only put in 100 into that trade, but on a 10x leverage that hundred dollars is now a thousand dollars and leverage is generally more risky. However, given the track record with my friends and the parameters of this bot, i went ahead and i just went with it now its also worth noting that i couldnt pick the cryptos that i wanted to trade with this spot. Originally i had a few cryptocurrencies that i liked that i wanted to build my position on so i thought it would be a great way to trade those cryptocurrencies. However, this one is completely random. It picks the kryptos for you now. The bot that im using is autocoinbot and i will leave a link down below it – is 10 grand and be sure to stick around to the end of the video before checking that out – and this is not an affiliate link im just leaving this here.

For you, and whatever you want to do with, it, is your choice. So, after setting up my auto coinbot account, which took me about 15 minutes now, auto coinbot is just where the parameters are set and where the profit is recorded. Private is where the funds are transferred into and where the trading actually happens. So what you do is you just hook up the parameters from your auto coinbot account to buybit, and then it will mirror those trades on your bybit account so heres what you came for. How much did i make or lose in the process on april 14th, when i put my money in bitcoin was forty thousand five hundred dollars and at the time of me recording this video bitcoin is now twenty thousand to three hundred dollars, so its decreased. By about fifty 50 now had i just put my money into bitcoin. My original investment would be worth about 50 of its original total, but as of right now, its completed 28 trades across 12 different cryptocurrencies and i have a profit of 227.83 cents on one account and 90 on another account for a whopping total of 317.83. And this is about a two and a half percent roi, or about a 1.25 roi per month very far from that five percent promise per month. However, it doesnt end there. There were two instances where bitcoin had substantial losses within a 48 hour time period. In this two month, time frame, one was the day tara luna crashed, and we can all remember that bitcoin went from about forty thousand dollars to thirty thousand dollars in about a forty eight hour time frame and the other is when celsius crashed, causing bitcoin to go From about 28 to 29 k downwards of about 20k, and this extreme volatility caused the scenario to occur, which i talked about earlier, where i ended up getting stuck in trade.

So as of right now, im stuck into two trades, which, if i were to take a loss on these trades right now, i would lose about 200, which would pretty much wipe out all of the profits ive made. At this point now, i asked if they had stop losses to prevent something like this happen. I feel like it could have easily been avoidable. Had stop. Loss has been in play with the parameters, and they said, as of the time of recording this, they do not have stop losses which, if i paid 10 grand for this bot, i would be pretty upset. However, despite the extreme volatility within the market, im not totally upset with these results, im – probably gon na. Let my money play out over the course of this bear market just to see what happens, even though i think we could be here for another year or two in this bear market its going to be interesting to see what happens and if something significantly changes ill. Definitely be posting an update, video. Let me know down below what other ways you want me to see about making money online. As always, i drop new videos every single week if you did find any value be sure to like and subscribe.