Thanks for stopping by to read our Profit Trailer review.
It is a simple and clear-cut guide to educate those interested to learn more about the bitcoin trading bot Profit Trailer. It will also help those looking to get into crypto trading with it. It is not an in-depth or technical guide but more of an introduction.
Profit Trailer Review
Profit trailer is a program that runs on your personal computer. Profit Trailer will automatically trade cryptocurrency coins for you on many exchanges. Profit Trailer performs this by incessantly pulling and pushing data to and from the exchange to “watch” the market there. Profit Trailer utilizes the information to automatically make decisions for when to purchase new coins and when to sell the coins you hold.
How Profit Trailer makes these decisions
Profit Trailer makes purchasing and selling decisions based on several settings that can be adjusted in the configuration files. Profit Trailer attempts its very best to follow the age-old market rule of purchasing low, selling high in practice. How does it do this?
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Let us create an example:
Profit Trailer is okay with trading ABC coin on the market based on our settings. Since we have money available in our account, the bot will be watch ABC to attempt and figure out what is a good time to purchase it. ABC coin begins to slump down in value and Profit Trailer notices this. Keep in mind Profit Trailer is talking back and forth to the exchange several times a second. Thus, it can see these changes in real time. Since Profit Trailer sees that ABC isslumping down, instead of purchasing right away, the bot says, “Maybe, if I wait for some time and see what happens I might get a better deal” It is called “Trailing”. Profit Trailer will carry on to “trail” the value downward, keeping a watch of it very closely. All of a sudden, somebody else has bought into the coin and the value starts to rise. Profit Trailer states, “The value is going back up. It has reached a good buy in price. I will purchase ABC now!” Thus, Profit Trailer places an order automatically with the exchange to purchase a set amount of ABC.
Now, you have a group of ABC coin! However you want to hold it only till you can make a profit right? How does Profit Trailer know when to sell ABC coin?
Let us suppose that after the Bot purchased ABC that it continued to slump in value a bit more and at present the coin is -5% under your purchased cost. It signifies that Profit Trailer will not sell ABC till the value rises at least 5%. Only then you will be able to make a profit. Keep in mind, buy low, sell high! When the coin increases in value, it will be keeping a watch very closely as it rises in value. When the coin’s value rises to above your initial purchase in cost, the bot says, “We are in the green. It is time to begin following the profit UP!” It is where the namesake of the Bot “Profit Trailer” comes from. Profit Trailer will repeat the same thing it did when trying to purchase a coin except in reverse. As the coin carry on increasing in value, Profit Trailer will keep a close watch on its value. Sometimes somebody will begin selling ABC coin and the value will decrease. It is when the Profit Trailer, “The value is dropping now. I have rode the profit wave up as much as I can. It is time to sell!” Instantly, Profit Trailer will put a sell order for all of your ABC coin allowing you to make a successful and profitable transaction!
If your coin went down a lot in value, how will you ever make a profit?
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From time to time, no matter what, Profit Trailer will purchase a coin that it thought was a good deal. But the value of the coin may continue to slump because of the unpredictability of the market. Let’s take a look again at ABC coin to see how the bot tries to get out of a bad situation.
If the bot bought ABC coin, but the value of the coin has continued to slump unfortunately, what can the bot do to aid you dig your way out of a big profit hole? It is where Dollar Cost Averaging (DCA) comes into play.
With DCA, you will be able to considerably cut down the value’s amount the coin would have to increase in order for you to sell back to the market at a profit. For instance, with our ABC coin, we purchased a coin for a dollar. As our purchase in the value has slumped 25%, what is there at present in ABC is only worth .75 at the current market value. We can sell at a profit, we can DCA or double down on our original price by purchasing twice the amount of ABC coin at the current .75 price instead of waiting around for the value of ABC to increase a whopping 25%. We would next only have to wait for the coin to increase in value up to .87 cents for it to become profitable for us to sell because of the way averaging works. At any point you can set Profit Trailer to DCA below the original value for as many times as you want.
NOTE: Each time Profit Trailer doubles down on a coin, it comes with double the cost! For instance, if you double down 6 times on a $1 purchase in value, the cost amount to do so would be as follows:
- 1st DCA on $1 initial purchase in value= $2
- 2st DCA on $1 initial purchase in value= $4
- 3st DCA on $1 initial purchase in value= $8
- 4st DCA on $1 initial purchase in value= $16
- 5st DCA on $1 initial purchase in value= $32
- 6st DCA on $1 initial purchase in value= $64
Remember how much it will cost every time you allow the bot to DCA as you dig into the settings for the Profit Trailer. It adds up quickly. Er also did a review on another CryptoBot which you can see by clicking here.
How much cash will the bot make every day?
With the bot setup properly and configured correctly based on your capital it may do very well, but like any trading or business there is risk involved.
Hopefully, this gives you an idea of how Profit Trailer works.
Remember there are several settings and adjustments that you have to make to your configuration files that will fine tune when or how and why the bot does what it does.
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