Advanced Cryptocurrency Trading Strategies

DISCOVER KEY CONCEPTS AND ADVANCED CRYPTOCURRENCY TRADING STRATEGIES. OUR GUIDE WILL INTRODUCE TECHNIQUES TO ASSIST YOU IN ELEVATING YOUR CRYPTO GAME

If you’re looking for a comprehensive guidelines to getting started in Crypto, make sure you read our other article first!

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Step up your crypto game with these cryto trading strategies for beginners!

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ADVANCED CRYPTOCURRENCY TRADING STRATEGIES

COMPOUND TRADING

A very wise man once said “compound interest is the greatest power in the world”. The QuidPro Bots by default attempt to harness the power of compounding.

In a nutshell:

If the Bot has R100 in it’s portfolio and it is using 100% of its portfolio on a single trade,
The Bot makes a trade and then makes a profit of 1%.
The next time the Bot makes a single trade using 100% of its portfolio, then, instead of using R100, it will now use R101.
If the R101 is used to make a single trade, and that trade makes a profit of 3%, there will be R104,03 available in the portfolio.
The same rules apply if the Bot makes a loss on a trade
- Instead of the trade getting bigger the next time the bot trades, the trade will instead get smaller.

QuidPro allows users to select between using compound trading or, if the user wishes to be more specific about the value of each trade and ensure the same amount is used for each trade, then compound trading can be disabled and the user can instead use a slider to increase or decrease the amount per trade.

TICKER INTERVAL

A brief introduction to RSI has been given in the previous Blog, Crypto trading strategies for Beginners | Crypto Trading for Beginners. To further understand the RSI and to further harness the power it provides, one needs to understand the different ticker intervals that are available.

Users can change the Ticker Interval that the Bot uses to calculate the RSI

The QuidPro Bots use an RSI period of 14.
- This means the RSI is based on a 14-day timeframe and it is measured on a scale from 0 to 100
- RSI 14 means that the Bot uses the price data from the last 14 periods to calculate the RSI.
  - Users can select the different ticker intervals between each of the periods that are being used to calculate the RSI.
    - 5m, 15m, 30m, 1hr
      - By increasing the ticker interval you are evaluating over a bigger range of historical data that is used for technical analysis by your bot. However a smaller interval might prove to be more accurate but influenced more by volatility
        
        This increases the amount of data that is being taken into consideration between each reading
        
        The longer the ticker interval, the less volatile the readings.

USE MULTIPLE SETTINGS FOR A COMPLEX STRATEGY

QuidPro allows you to incorporate “And” or “Or” logic into your Bots Parameters.

You can use multiple indicators together in a single strategy

- Buy Strategy
  - RSI “AND” 24 hr volume
    - This means that both the RSI and the 24hr volume requirements need to be met before the Bot will Buy a coin.
    - If “AND” is used, and only one of the indicators in the Bots Buy/Sell parameters is met, the Bot will not Buy/Sell.
      - For example, if the RSI has been met, but the Volume amount has not been met, the Bot will not perform the trade.
      - If both the RSI and the volume have been met, the Bot will make the purchase.
  - RSI “OR” 24 hr volume
    - This means that either the RSI or the 24 hr volume requirements/indicators can be met and the Bot will make the purchase.
    - If “OR” is used, and only one of the indicators is met in the Bots Buy/Sell Parameters, the Bot will Buy/Sell.
      - For example, if the RSI has been met, but the Volume has not been met, the Bot will Buy/Sell.

Be sure to try out different combinations and see what works and what doesn’t. Keep special track of the different market conditions and how they affect the different strategies.

MANUAL BUY

As mentioned in a previous blog, Crypto Trading for Newbies | A Guide to Trading in Cryptocurrencies, some decisions that traders make are based on news or world events/activities that could influence a particular trade. The QuidPro Bots, although amazing, do not read the news and they will not help you make any decisions based on information available on the internet other than technical data/analysis.

If you wish to make a trade based on information that you believe to be trustworthy, then you can instruct your Bot which Coin you would like to purchase, and the Bot will immediately stop what it is doing, and make the trade for you.

How to perform a Manual Buy:

From your Bot Card, tap on the “eye”/”view” button.
- This will open your Bots Profile Page
Under the Bot picture you will see a tab menu – “Trades”/”Portfolio”/”Config”
Tap Portfolio
Under the Tab Menu, there are 3 icons. Tap the “Shopping Tag / Buy Icon”
Find the Coin you wish the Bot to purchase and select the “Shopping Tag / Buy Icon” next to the desired coin.
Use the slider to select the amount of funds/base currency that you wish the Bot to spend
When you are happy with the amount of funds that are being used, tap the “Shopping Tag / Buy Icon”
When asked if you wish to Manually Buy, select “Yes”.

IN CONCLUSION

These Advanced cryptocurrency trading strategies mean that users can add/edit the following components to their strategy to improve on their Bots profitability.

Ticker Interval
- Change the intervals between readings over the RSI Period
  - Longer intervals means more data is being used to evaluate the RSi for each reading.
Combination of Indicators
- Combining indicators can be a great way to include additional steps in the purchase or sale decision making process.
Manual Buy
- Instruct the Bot to immediately stop what it is doing and perform a purchase of your choice.