Profit Trailer- Ultimate review and strategy guide

This  article is the ultimate guide to Profit Trailer on the internet. No one  else has provided as much information in one go about what it is, the different settings, and how to use it effectively. I am am an  experienced botter and trader and have far more knowledge than most users and have conducted hours of tests as well as analysing price  movements and hundreds of charts. 

This is pretty much everything you need to know to get you to make money with Profit Trailer stripping away  the mystery and showing you what a devastingly powerful tool it can be, plus managing risk and knowing how to trade with high level security. Originally published on Bitcointrading.com (Profit Trailer Review, Profit Trailer Settings and medium. (note the images are on the original articles).

There are many ways to trade crypto. Some people day trade or are swing  traders. There are also people who invest in ICOs. And finally there are  people who use trading bots like Profit Trailer.  I do a bit of all, but because I’m a busy guy and don’t consider myself  a genuine daytrader primarily, I like to use bots to execute most of my  trades on my behalf.A  few years ago I was trading a little in FOREX and tested a small number  of bots. In the FOREX market I found a lot of bots were inconsistent,  semi scams or ones that performed well in demo trading didn’t get the  same results in live trading, so I left it.Jump  forward a few years and having entered the crypto space, I started  looking around at Bots again out of curiosity. In particular there were a  number of people on Bitcointalk discussing  trading bots. The ones I have tested include Gunbot (more about Gunbot  another time, Profit Trailer is essentially a fork/evolution of Gunbot),  Leonardo Margin Trader. But the best I have ever used is Profit Trailer.  

I have been amazed at my results and increased my trading accounts  dramatically In a way I could never have done if I were actively trading  as a daytrader whilst I was still learning unless I was exceptionally  experienced from the start. 

I even had a month where my holdings increased by a factor of over 500% (December 2017) on Binance– from 0.15 btc to 0.85 btc!Edit- I have now uploaded my entire sales log from the month of December  2015 to January 15th as proof. Click on this link- the green  highlighted column is the %profit per sale and third column to the right  of that is the USD value in terms of profit!Of  course you will not have such unusually large gains as often as that,  and that huge growth was of course in part due to BTC and altcoins  booming in the leadup to Christmas. During bearish times you will of  course not be getting such returns but even so in my other primary  trading account on Bittrex, which has grown a lot slower I have steadily  had gains from 20–50% in most months, and there were even days where I  was doing 8–10% gains on Binance.

Why bot trading with Profit Trailer?

First  of all it goes without saying a lot of traders don’t use bots or like  the idea of using bots. Is it true that an experienced expert trader  could potentially trade better than any bot? Of course. Someone like  Warren Buffet would of course laugh at the notion of bots but he also  doesn’t understand crypto, and his game is very different. Also there  are definately a lot of bad bots out there, and really there are only a  handful that actually work. Profit Trailer is  one of them and a star performer. People who are experienced successful  traders will have their own methods and to be honest don’t really need  to change their system if it’s already working, but for the majority of  people starting out in crypto trading learning the required knowledge  can be daunting (and costly if you are rash or don’t know how to manage  risk). However using Profit Trailer has distinct advantages, especially for someone  who is not very experienced in picking manual trades, and is also a very  handy tool/compliment for intermediate traders.

1)  A human cannot be awake 24/7. A bot can run on a Virtual Private Server  (VPS) and monitor hundreds of currencies and trade without ever  stopping unless you tell it. Some of my best sales come in the middle of  the night when I am asleep and the Asian markets are alive and I wake  up to see some amazing sales.

2)  A bot is emotionless. Once you give it parameters, it sticks to them. A  human will have emotions. All but the best traders who have honed years  of discipline and stick to the rules will not be able to do this and  make rash decisions rather than logical ones. The bot will consistently  do what you tell it to without fail.

3)  Consistent steady profits. Unless you are a truly experienced expert  trader you will mostly likely make bad decisions, and may lose money or  fluctuate your trading balance a lot. I have made a big profit nearly  every month I have used Profit Trailer- the sole exception being the  January/Feb crash, and I have survived numerous other altcoin crashes  which were not as extreme and come out with more in the end once the  market stabilises, and my trading accounts remain higher considerably  than what I started with.

4)  A big supportive community all with the same goal of making decent  money. Profit trailer has thousands of active users and people share  tips, strategies to help newbies. I’ve learnt so much from talking to  other experienced traders and botters. Some people who use completely  different strategies do just as well as I do proving there is more than  one way to win. If you use my referral link for either or both of Profit  Trailer or Binance  and email me or contact me via telegram I will give you some advice on  settings. I also offer a comprehensive coaching service on how to  maximise profits with so you get a more detailed understanding of my  trading strategy with PT and I will show you my exact settings.

5)  Detailed monitoring of profits and account balances. Profit Trailer has  a very detailed log of your buys and sells including a calculation of  the USD of your account, sales, daily, weekly profit amongst many other  things. There is also a possible buy list, which are alts getting within  buy range. PT will show you the exact buy trigger prices where it would  make potentially make a buy, thus there is a strong level of  transparency into how it works.I  do add though that of course not every one gets the profit margin I and  some of the experienced users do, but I firmly believe on default  settings you will make money in normal and bullish market conditions.  The difference is I spent a lot of time looking at live charts- I use  both Coinigy and Trading View  and have professional accounts with them and have a good understanding  of how prices behave an the relationship between the candlesticks,  indicators and buy strategies and have done a lot of tweaking. 

I also spent a while testing smaller amounts with different settings and  have come up with a formula which is extremely profitable, and even when  the market turns, it turns defensive and is much more cautious about  using the Averaging Down (Dollar Cost Averaging/DCA) feature (more about  that later. I also have some failsafe nuclear options if the markets  implode extremely (this would be on the scale of the January crash we  saw or a Mt Gox style meltdown). My settings with only a little tweaking  will be enough to survive a lot of mini crashes and corrections though.  

Your account will fluctuate of course- an analogy I would use is like a  big elastic band, during a downtrend your entire portfolio will  contract, and as soon as the bulls return it will expand and explode  upwards- as long as you know what to tweak in what market conditions,  and remain calm when you see lots of red you will win long term.Obviously  knowing how to set the bot up and optimise it and what precautions to  take in different circumstances is vital in achieving this. Profit Trailer also has a range of excellent safety features to stop trading in certain market conditions. You do have to understand the different ways a bot will trade (more on how Profit Trailer works shortly).

Profit Trailer- under the bonnet

How does Profit Trailer actually work?First of all Profit Trailer has numerous strategies  you can use to buy. You can also pick pairs individually to trade or  filter by volume- I use the volume filter, though I have also manually  blacklisted certain coins and blocked PT from trading them which I deem  to be worthless shitcoins, particularly on BTRX (I provide an exact list  to those who use my ref links). The two buy strategies I have used the  most are based on Bollinger Bands and EMASPREAD which is based on the % size spread (space) between a fast and slow Exponential Moving Average (EMA). A visualiation of EMASPREAD can be seen below on my Coinigy chart. SMA/EMAGAin also has huge potential and once I’ve conducted enough tests on it I will be sharing my experiences with it. 

The white space below the centre line (which is a 20 period EMA) represents  a number which is translated into a % space of the fast EMA dropping  below the slow EMA. For example using a setting of EMASPREAD at -1 would  be making the bot buy where there is a -100% gap where the faster EMA  drops below the Slower EMA. The bottom of the spikes in the white spaces  seen here would probably represent around figures of -2 to -3. You can  also do the inverse, so if you set EMASPREAD at 0.5 it would mean PT  starts looking for a buy as soon as there is a 50% positive spread/gap  between the fast and slow EMA. 

I know people that use both positive and negative EMASPREAD and they do  well, and having used both I can say they both work, at a later date I  will explore the pluses and minuses of them both and compare them. It  just goes to show there are many ways to profit with the bot, you could  test using small amounts until you find a method you like. You can  change the Bollinger Band and EMA settings as well, the default periods  for BB is 1800 seconds, which is 30 mins and EMA slow and fast by  default are 20 and 5. If you changed it to say 900 seconds (15 mins) and  EMAs to 20 and 3, you would get much sharper faster movements, which  could be good for quick short sharp profits. Using 3600 and changing the  EMAs to 30 and 15 will give you much smoother slower movements which  are better at riding downtrends and buying closer to the bottom, but you  will get less buys and sells.

With  BB buy you can get it to buy within a range of a BB band on a  timeframe. For example buying at BBLOW 15 means you will buy anywhere  from the bottom 15% of the lower BB band upwards. If you want an exact visualisation of the buy zone is using EMAspread and LOWBB setup a free trading view account and use these scripts  by Helmi, who is an experienced Profit Trailer/Trading View user that I  know- you will need to need to click on chart, then click on the Indicators, Fundamentals, and Economy button which is a squiggly line highlighted by the red rectangular box below.

Then go to a script called LOWBB and HIGHBB for Profit Trailer.

The  thick red line shows the end of the buy zone. You can also use a  negative number (this has been one of my favourite strategies) which  means it will make a buy outside the bottom of the lower BB band- I have  used a 1 hour BB period because it looks for an extreme low point where  sooner or later price will rebound upwards- so on the Coinigy chart you  will see where there is a wick/tail at the bottom of the BB band which  would be the trigger if you are using LOWBB -1 -2, -5 etc. I have also  effectively used a 5 minute period BB band using a really large minus  number such as -35 which can be good for lots of short sharp scalps.

Buy  zone using positive 15 LOWBB (Note that PT is not available for  Coinbase/GDAX and BTC/EUR is not currently a pair PT trades on so I am  only giving a chart example)

The example above with STRAT shows what would happen with a setting of -20 on 1 hour candles and 20 BB period.

DCA (Dollar Cost Averaging)

If DCA is turned on PT starts averaging down  (which is buying more of a coin at a lower price if the coin drops to  reduce the average cost of the coins you have) when a coin is below a  certain % of price dropped- aka the buy trigger number  (which you can set- I vary this from around -10 to -20 depending on the  market conditions) it will only make a DCA buy based on a second and  third criteria e.g. setting it to -3 buy level on a 1 hour BB band, or  using EMA or SMA SPREAD at positive or minus 1 or 2, or any other  strategy you can also limit the maximum number of times it does this, or  allow it to go unlimited (not recommended!). There is is also the ANDERSON DCA Strategy. 

I would not turn DCA on until you understand what it does or how to tweak it.  What I do is limit the number of buy times to 4 or 5 max (the default  is 6- which is fine if you are making very small initial buys, but my  buy amounts tend to be a little bigger- I tend to use about 1.5-2.5% of  my account for each initial trade) as well as make sure it does not  start averaging down until bigger drops.

A  dangerous way (and this is how some newbies can become unstuck) is to  have ultra aggressive DCA settings where you have a low buy trigger say  -4, don’t change any other parameter beause it may start  trailing down to buy as soon as the coin reaches -4 in dropped price,  which I think is just guesswork and could leave you with a heavy bag if  it’s tanking as it will make a bag disproportionately larger  potentially. Anyone who understands markets knows that when the trend  changes that’s the time to play very defensive so it makes no sense to  have such an aggressive set of buy triggers.A  wise way to do this is to wait for the coin to finish tanking, or buy  at a very extreme low at a bottom and there are ways to set your DCA up  to work like this. One specific example would be to use 1 hour BB Period  on INDICATORS, and set buy trigger low, say -19 (larger during a crash)  and buy level to -6. If you put these settings on Helmi’s Trading View  plugin you will understand what I am doing, it will buy at an extreme  low where price is likely to rebound from. I have through testing and  observing price action also devised a method which is as close to only  having DCA buy when there is a clear trend change and as prices start passing through the Ichimoku Cloud-  for those of you who are unfamiliar with the term it is a master  trading strategy where you measure the trend current based on the  position and movement of the candles to the cloud, shape and colour of  the cloud. This is something I will explain in detail to any coaching  client. 

I have a very specific Trading View setup on which I guage the trend on different timeframes using the Ichimoku Cloud, MACD, Stochastics RSI, look for swing highs and swing lows, plus custom indicators which recalculate for each asset the VIX aka Wall Street volatility “CBOE “fear Index” .To  manage risk I would suggest that you do some calculations to work out  the amount of your total balance you wish to allocate for a pair to DCA.  I set various limits on mine as of course if a coin is crashing, it may  not recover for a while, though some of my most profitable trades and  biggest sales have also come from pairs that had been DCA’d multiple  times and have finished downtrending after the 4th or 5th DCA buy- by  then the average price may only be -7% after having been down as low as  -40% at the bottom of the market, and a quick recovery and good day  follows and it sells for enormous profits! Of course each pair will be  at different stages of the market cycle and I watch each of them  individually (a small number I may sell at a loss manually). You can  also manually stop PT from DCAing on any pair. There is also an  automatic stop loss feature for PT which can be turned on. My view is  that you should not use both DCA and stop loss, use one or the other. I  look at each case individually, and I will only sell a coin if it looks  like it’s on a longterm downtrend and not likely to recover soon.One  method of DCA which is popular is ANDERSON, where you pre define a  number of levels and triggers. This can be very effective if you know  how to use it. 

Let me  give you a big tip, do not put your buy triggers to small numbers like  Level 1 -2, level 2 -3, level 3 -4 etc as you will quickly be unstuck  during a normal correction, and will be extremely painful during a real  crash! The reason why is that if the market turns, you will quickly run  out of btc balance to DCA if you set such small triggers, and you can  end up (as many newbies who use such settings have done) with some  disastrously disproportionately large bags. I  would set Level 1 to at least -10 or -15 (I sometimes have it as high  as -24!) because even on an uptrend it is not unusual for a coin to  correct to -10 or more before reversing again. 

Also when the  trend changes, you can’t just guess when it will recover. Sometimes I  will leave DCA level 1 on Anderson very large say -20 to -24 so that the  vast majority of coins only need a single DCA hit before being sold.  Also on occaision I may manually DCA, I do this according to the Ichimoku Cloud (which  is not currently a PT strategy, but it is possible it may be in the  long term- here’s hoping anyway!) and will only make a single buy when  the trend has clearly changed again and is back on the rise. 

The way I have set up ANDERSON DCA very few coins will ever reach level 4  let alone 5 or 6. If you are using ANDERSON, my view is that your levels  1,2,3 should be very deep. Ideally your bag should be gone by the first  1–2 levels and level 3, 4 and 5 should only be kept for last resort, and it will be almost impossible for any coin to even reach level 5 the way I use Anderson. I would encourage you to look at some price charts on Tradingview,  and you may notice that when a coin dips (especially after it collapses  underneath the cloud on the Ichimoku Indicator, and you see a red twist  of death showing trend change imminent), it can dip further and longer  than than you expect, which is why even your first DCA, in an ideal  world should be at the right at the bottom when the coin has stopped  tanking. 

To me it makes  no sense at all (and is also suicidal from a risk management point of  view) to have DCA as quick as 2, 4, even 8.My  first DCA buy level on ANDERSON is never smaller than -10 (this would  be on an uptrend!), I usually have it around -15 to -19. and level 2 is  from -20 to -30. Having a very deep level 1 and 2 means typically almost all bags in normal conditions are popped by the first DCA levels,  and likewise level 3 around -30 to -40 (you see where I’m going with  this now?). Level 4 -40 to -50 -and as you can almost no coins will ever  reach as far as L4,5 except for in an extreme crash (and I might have  panic sold long before that anyway!)

Trailing buys and sells

Profit Trailer also has a trailing buy feature which is where it will look for the lowest possible price, which is the inverse of a trailing stop, explained here on Investopedia.  This means if a price keeps on dropping it won’t buy until it reverses  at a defined variation you can change. This feature is integrated with  most buy and sell strategies.Likewise  Profit Trailer has a trailing sell/stop feature, which can be set to a %  variation, on the default it’s 0.5 which means if price keeps going up  it will trail the stop up so that it only sells at a 0.5% drop. Trailing  buy/sell is also integrated with DCA. Occaisionally I have woken up to  see sales over the night where the gain was over 50% and the profit on a  single trade was $200! Most of my sales are in the 10–15% profit range.  Some people prefer lots of smaller trades and smaller gains but I  prefer bigger gains and a smaller number of trades and pairs to manage. Personally  I prefer using a larger number- the reason why is that I have observed  using a tiny number like 0.15 means PT will often sell far too early.  The default at 0.5 is fine but I have been testing it at 1 and I’m  finding it really does often trail up to a high number much more frequently before price starts to reverse and it puts in a sell order.

Gain sell level.

This is the minimum gain you set before PT starts trailing. The first thing is my gain is set much higher, than the default between 5 to 9% typically.  If you are recovering from a crash and lots of bags I may have it lower  but not much, I haven’t had my gain lower than 5% since the first week I  started using PT. The reason why is that I suggest you look at some  price movements to see how far price goes up further after an initial  sale, you may be surprised. From my analysis last year in November I  found that on average price went further by at least 10% on average and  in many cases further. Right now (as of March 2018) probably not, but  even so it will go further than you think. In normal markets I have it  around 9%, very bullish I may put it to above 10%. Even now I have it  around 8.75%. 

Why?  because having a tiny gain skews the risk to reward ratio strongly  against you. If you are unfamiliar with this term, check out this  article on here. https://www.investopedia.com/terms/r/riskrewardratio.aspThink  about it, if you have a gain of like 0.9%, and even if a few of them  trail up further, lets say your average sales maybe come out around 1.5%  in the end which is what a few guys seem to have, how many trades do  you need to win to nullify even one deep bag or a coin you decide to  sell at a loss? The answer is a lot. Most of my sales are around 10% and  a few hit 15–20% or more, and on occaision 30–50%+. This essentially  means one of my sales is worth ten, fifteen, twenty etc of the sales  done by someone who has 1% gain, think about it.One  additional feature of Profit Trailer is that it will manage the coins  you buy manually yourself. And if you already had alts in the account  before the bot started, it will calculate the average price if it is  less than 30 days old. Any older and you can input the bought price  yourself. For any alts you already had, if you want to HODL them, you  can switch PT to ignore them, WATCHONLY mode. If you are happy to let PT  trade them it will manage them just like any other pair including  DCAing them when required. So if you wish to practice manual trading  with small amounts, PT can help as a safety net!

Risk management

Risk  management is an absolutely vital skill in any form of investing or  trading. Unfortunately many newbie traders and botters haven’t a clue  about it and thus their accounts fluctaute very wildly, or their gains  can quickly be wiped out. I regard risk management as the cornerstone of  being profitable long term and will teach people how to do it a  pragmatic way.The  best thing overall with Profit Trailer really is that because of its  wide range of monitoring and safety features it can really help as a  risk management tool. For example, once you get more experienced you  could also just use it on semi automatic mode (which sometimes I do)  where you do your own buys and it sells or DCAs for you. Because it  monitors your portfolio on an exchange (you will have seperate instances  of PT and monitors on different exchanges).Another feature I use is the ALL_min_buy_balance_percentage =parameter. This  is an important feature as it locks up a % of your base trading  currency and not use it except for DCA- you can also lock up a % of your  buy balance to allow/not allow DCA too. Let me give you an example, if  you set ALL_min_buy_balance_percentage to 50% (which I think is a fairly  decent figure to use, but I vary it from around 35–50% depending on the  market conditions) it means as your account grows, you keep more btc as  a % of all your holdings. For example if your account grows from 0.3 to  0.6 it will lock up that 0.3 btc and not trade with it except use it  for DCA (if you allow it to DCA, or don’t set a DCA minimum buy  balance). This is a good risk management strategy as this means you are  reducing the amount of exposure to risk when the market turns.

The nuclear option can be to set it to PANIC SELL.  I would use this with caution but it can be very useful once a crash is  confirmed, because you can simply save your btc before your alts tank  more. However you  absolutely need to time this right, if you PANIC SELL at the bottom of  the market you have effectively cut off your nose to spite your face.  Again some newbies have become unstuck because they were unable to know  when a market had bottomed out and panic sold after the market couldn’t  go any lower. And guess what? After they had panic sold, altcoins and  BTC started recovering. To coaching clients I will explain in detail how  I determine market bottoms, and at some point I will be either making a  Youtube video or another post about this.

Sell only mode triggers will turn off the bot upon certain market conditions. For  example you can set the bot to stop buying after a certain number of  buys without a sale or upon a btc price rise or drop, very useful if BTC  is mooning too fast, or there’s a correction. Alts have somewhat of a  complex relationship with btc and some alts have almost no correlation  to btc whereas others do.

Development

A  final word about the creator Elroy, who an excellent and very helpful  and well organised developer. Many of us have used other bots which had  less reliable developers, who ignored bugs or provided poor customer  service or we had been left scratching our heads as to why the bot made  those buy decisions. Profit Trailer in comparison is a brilliant  experience, very stable and it does what you tell it to with no mystery  once you understand it’s inner workings. Bugs reported are usually gone  by the next release or the one after, it’s refreshing to work with a  team which is so streamlined and capable, which can’t be said about the  vast majority of other bots I’ve used.Additionally Elroy constantly adds new tweaks and features. He has told me personally, eventually he wishes to add a MACD/ Stochastics crossover strategy to PT (a very method popular with professional traders)Profit  Trailer is constantly evolving and the creator Elroy is getting  feedback all the time, from some very experienced botters and traders  and inputting it into the roadmap, and it gets bit by bit more advanced  with each release. For example in one of the feeder groups we were  discussing a good oscillator that could recognise when a market had  already peaked and then allow no buys once those triggers are hit, 2  days later Elroy (I’m not sure he even saw the conversation but it was a  nice coincidence!) announced  he is running a competition where the top 3 suggestions who get the  most votes on Github for new features will be implemented at the time of  the next full version release, so it’s both a  collaborative effort on the users, and on the creator’s side he cares  more about having stable clean code and strategies that actually work  (unlike most other bots where they just want to make money for  themselves and ignore bugs).

Some common Profit Trailer questions:

1) How much money can I make? Can I make x% a day?I  see this question a lot, and it is well meaning but very niave to  assume you can get an exact figure every day. I also see some Youtubers  claiming you can turn 1k into a million, using PT or another bot and  there are several points I’d like to make regarding this. Firstly  markets fluctuate a lot. You may have a number of days of boom like we  saw in November and December where people were doing 1, 2, even  sometimes 5, 10% a day, followed by a correction. You may have days of  lots of sales followed by a few days where the market corrects and you  make hardly any or no sales, you just have to ride it out and setup your  bot in some of the ways I’ve described when the market turns. You may  have a month (I would say the end of February to early March 2018 has  been like this) where the market is completely choppy and accounts are  stable and neither growing much nor losing much. But overall, my  accounts have grown far faster than had I had to trade them alone  without PT. Is it possible to turn 1k into a million? Perhaps, but to do  that you’d have to compound for a long time, know how to manage the  corrections and crashes and accept you will not get 1–2, 3% gain every  single day, it’s simply impossible. But on a bull run it will exceed  your expectations, possibly beyond your imagination! There is no magic  button ultimately, and if someone claims there is, be very sceptical  about their claims and dig deeper. Markets move in cycles and you have  to learn to deal with the rough as well as the smooth.

2) Is it better to run it on btc or eth?I’ve  only ever run it on BTC pairs but I think BTC is potentially more  proftitable, with ETH it’s probably more stable, albiet with potentially  smaller gains but I imagine your account will be less prone to  fluctuations.

3) Do I need to get rid of all the existing alt coins I’m currently holding on binance before I start using it?No  you don’t as PT will either trade them on your behalf or if you bought  them ages ago e.g. more than 30 days it won’t calculate an average  price, plus you can stop PT manually from trading on specific pairs if  you just want to hodl your coins there or you can have a completely seperate Binance account for the bot.

4) If I don’t use a vps does my computer need to be on all the time for it to work?Yes,  hence why it’s best to have a VPS, I use Contabo, who are based in  Germany. Binance is also friendliest to IP addresses from the EU, I have  occaisionally heard of people in certain countries in Asia and South  America having IP problems so one way around that would to have a  VPS/Virtual machine with Contabo where it runs 24/7 without you needing  to leave your computer on.

5)  The PT wiki is currently offering a vps with PT preinstalled for  $20\month. Is this worth it for someone that wouldn’t have a clue how to  link the 2 otherwise?It  might be, but I managed to set it up myself, it might be worth your  while as it can be confusing if you haven’t done it before yourself.  What happens is say when you get a VPS account with Contabo choose your  operating system for the Virtual machine and once they give you your  access details, access your VPS via a Remote Desktop Connection  inputting he IP addess and credentials they have given you (you can also  use a VNC but with a VNC you can’t copy and paste the files direct  which is annoying)

6) I’m only going to have a starting balance of $500. Is it worth it. Am I likely to see any sort of worthwhile returns?Obviously  it’s a small amount but I would just compound all the profits for most  of the year and by the end of this year, it could be worth a lot more ;)

7) If the market crashes, what do I do?First  of all there is a difference between an entire market crash, and  altcoin (but not btc) crash and a short pullback i.e. a temporary  correction in the market. PT will deal with moderate pullbacks, and even  many altcoin crashes quite well so long as your DCA is set to quite  cautious levels like I described previously or you panic sell as soon as  the crash is confirmed. Let me give you an example, during November and  mid December 2017 when BTC super-mooned from 7000 USD to 10,000 and  then again from 10,000 eventually to 20,000 by the end of Dec there was  an Altcoin crash initially in November because people were selling their  alts quickly to buy BTC as it was shooting up very fast. People dealt  with it differently in the PT community, some people used the PANIC SELL  button (which force sells all your alts quickly one by one), whereas on  my Bittrex acount (I had yet to sign up to Binance, I started there on  the 15th of Dec) I decided to sell some manually (primarily the coins I  didn’t rate) and DCA some others (the ones I rated and felt had strong  fundamentals), so all of our accounts took a fairly big hit, but within 3  weeks my account not only had recovered to the exact btc value it was  before the alt crash- it was now worth a lot more because BTC was now  worth 10k!There  is also a difference between an altcoin crash and an entire market  crash. The crash of Jan- Feb 2018 was an entire market crash where  everything went down. I did use panic sell during that one, because the  bad news was relentless and really should have used it earlier, but it  was still enough to save myself a fair chunk. I also temporarly moved a  portion of BTC to GDAX so that I could sell for fiat- I am reluctant to  use USDT because as you may well know the recent crash was in part down  to the fact people were worried that Tether was not backed by real USD-  and until USDT is in the clear (I am not saying they are definately  cooking the books- but they have some unanswered questions) I would be  very weary of using it instead of real USD, EUR, or GBP and then buy it  back once I figured the market had bottomed out. You  can also set buy strategy to Positive EMASPREAD, buy value of say at  least 0.5 to 0.75 and in INDICATORS file set EMA length to 3600 seconds  (1 hour) and increase the length of EMA1 and EMA 2 to 30 and 15 (this  method actually also works well just as a buy strategy anyway!) which  means nothing will buy until it’s back into a clear positive uptrend,  and using a longer EMA timeframe and larger numbers means the bot is  less likely to be faked out by minor reversals before continuing down.

8) Do you ever turn the bot off?Rarely,  but only briefly to update to a new version. Even during a crash, say  after you have panic sold, your SELL ONLY MODE Triggers (e.g. BTC has  dropped in value by more than say 10% in the last 24 hours- this number  can be defined) plus using the 1 hour positive EMASPREAD method will be  enough to stop PT from trading until a recovery is seen.

9) What is better Binance, Bittrex or Poloniex?My  account has grown the most on Binance. However on some days and weeks  Bittrex does outperform Binance, and some people have said to me Bittrex  is better. If you have the capital you could have bots for both. Also  once you have a license exchange you can have multiple bots trading  different base currencies e.g. one bot for btc pairs, another for eth  pairs. On Poloniex you can also trade XMR (Monero) pairs.

10) What about security, is it safe?There  was a recent hack attempt on Binance. Luckily the Binance team  prevented withdrawals from the fraudsters and are implementing refunds  for fake trades. Most of the people hacked have never used a bot, and  there was no PT user I spoke to who had lost funds, Binance has since confirmed that the attack was down to Phishing. There are several things you should do to up your security whatever you do in crypto.

1. Use 2 factor authentication (2FA) on all your crypto accounts. All exchanges have this as an option, and if you don’t have it switched on, it’s like not having a lock on your front door.
2. Use IP restrictions on your accounts. On Binance you can edit your API (which you need 2 of one for the PT license, and one to trade with)

On  Bittrex you can restrict IP addresses for trading and withdrawals.  Simply go to account settings and put your home/work IP into the  whitelist (i.e. allowedIP addresses you can access accounts from) and  also add your VPS IP address you have your bot on to it.4. Use a phishing blocker such as Metamask, Comodo, Avast, Malwarbytes. These are all free and are good anti virus programmes.

5.  Use a Sandbox to run programmes with sensitive information- a sandbox  basically virtualises any process on your computer so that it’s  isolated, and even if someone has hacked you they won’t be able to see  what you are doing inside the sandbox. I use Avast Sandbox which works on the free version, Comodo has a free sandbox feature too.  For example you can access your Remote Desktop VPS using a Sandbox and  also setup Microsoft Word and Excel, or for that matter any area of your  computer to run in a sandbox only.

6. Finally, use a hardware wallet to store your coins and profit withdrawals. My preferred choice is the Ledger Nano which is the most popular brand. If you are not using a hardware wallet, you are leaving your money potentially in the open. No  one can access your wallet because it is like a physical safe key and  without physical access to it and the keycode, no one can take your  coins. It is also integrated with MyEtherWallet and upon startup it will  create MEW addresses for you for your ERC20 tokens.

All the strategies and settings are explained in detail here.Go here to buy Profit Trailer.Click here to sign up for Binance, the most trustworthy and profitable exchange. Binance has an amazing number of coins with huge potential, and the CEO has appeared in the media (he was recently featured on the front page of Forbes printed edition)! and they support a lot of Blockchain projects and startups.

Sign up for Tradingview, the best charting service on the internet.Coinigy is also a great charting service.

Profit  Trailer feeder is a very popular addon to PT which can dynamically  adjust your settings in market conditions helping you create a system  for different market conditions. 

I  know both the creator (we actually live near each other in London!) And  the guy who does the demonstrations in the PTF videos, J-Rod. Note  that PTF is developed by an independent team of advanced PTF users and  if you want support or help for that you will need to visit the PTF  Dischord group rather than the PT Discord group. At some point I may be  doing a joint video with one or both of them so stay tuned!

Edit I just recently created a new thread on Bitcointalk.  If you have a question for me this is now the first point of call as  I’ve been getting far too many messages and emails I simply can’t keep  up with them, and I’ve decided I might as well allow everyone to see a  wider range of questions and answers in one place.

If  you want to know my exact settings and strategies I’m offering a very  limited number of people a coaching service (note that I’m super busy  and don’t take many people on). I do not sell settings alone or as  packages as I believe without the understanding why I have made them the  way they are, and what to change in different conditions, it’s a bit  like giving a racing driver (Formula One, Indycar!) a car configured a  certain way without knowing how that driver drives, what experience they  have, what level of understanding they have of this kind of setup etc.  You can probably guess what most of my effective settings are from the  article anyway- at some point I’ll be releasing a Youtube video and will  probably release many, or all of these for free anyway so that people  can comment or discuss their effectiveness and their experiences with  them.

I  was previously a coach for Gunbot, and helped a lot of people make  their bot trading profitable so have lots of botting experience. None of  the settings or tweaks I created were based on guessing, it was after  perfoming many small manual trades and studying hundreds of crypto  charts and watching price movements, understanding price action theory, the relationship between the Wall Street Vix Williams volatility “Fear Index” and crypto and more.This will include:-An  initial hour session (either on the phone, or sjype depending what  country you are in) where I get a guage of your general level of  understanding of PT, markets, trends, price action, indicators,  candlesticks etc and we work to set out a roadmap to fill in the gaps.-I  find out if there’s a particular method you would to trade with. I will  show exactly all the methods I use plus their logic, and you can apply  it or you can create a hybrid of your own. For example do you prefer  lots of short quick scalps or do you prefer slower smoother movements  and bigger gain%?-Having  the right attitude and expectations. My belief is that if you take the  attitude of wanting to learn everything you possibly can, constant  improvement, marrying the technical and the mental that is the way to  succeed. Let me use a sports analogy- you could hire an Olympic coach,  but if you don’t have the desire yourself to be the best you possibly  can and apply everything as well as reviewing your progress and finding  your own solutions your chances are reduced.

When  I started on this journey one of the difficulties I had was finding  there was so much noise and contradicting information out there. What is  the best bot, what do the settings do, what are some effective  professional trading strategies & how can you automate them, what  should I do when the market tanks, are there patterns in price movements  that repeat over and over, how can I tell what the trend is or when it  might reverse again etc. I set out to learn all this from more  experienced people and reading until I got some answers. That is what I  aim to do for anyone who wants to work with me.Please send me email me at [email protected] or find me on Telegram @StevemcmahonI  am also offering some free consulations to explore where you are and-  and can arrange a 15–20 chat on Skype (in a limited number of countries  like UK, some EU, USA, Canada) or on the phone by appointment. 

Originally published on Bitcointrading.com (Profit Trailer Review, Profit Trailer Settings and medium. (note the images are on the original articles).