Hey guys! Jonathan here with an update on my BTC robot performance after using it for 8 weeks.
I have decided to change my update frequency from weekly to monthly for 2 simple reasons:
1. I can measure the robot’s performance more accurately based on its projected return of 5% to 100% per month according to the BTC robot development team.
2. To avoid confusion in the calculation of my profit margin for people who are new to my updates. Therefore, this will be my last weekly update. The next update will be on 31 Oct 2013 for the entire month of Oct 2013.
What happened this week?
1. I made a loss of US$4.12 (US$511.30 – US$515.42) for this week.
2. My overall profit margin stands at US$6.69, about 1.3% on my overall investment.
Here is a screenshot of my member’s area:
As you can see from the graph above, I made quite a good profit from 13 Oct to 16 Oct 2013. However, my profit started to dwindle towards the end of the week even though the market rallied again. I am starting to wonder whether I should stick to Medium Risk setting or revert to Aggressive setting instead.
Here is a summary of trades that took place in the BTC-e account:
As you can see from the screenshot above, there is a huge increase in the frequency of trades ever since the update 1.1 was applied on 9 Oct 2013. You can see now I have 31 pages of trades which is a huge increase from 5 pages in the week before.
An increase in the frequency of trades is truly a double-edged sword. It may not be a good thing in the sense that for every trade you perform, there is a 0.2% transaction fee. Hence, more trades equals to more transaction fees which leads to a reduction in your profit per trade.
On the other hand, it is good in the sense that you can take advantage of the volatility of the market by performing more profitable trades. Therefore, you have to weigh the pros and cons of each setting before you decide to go for it.
Note: I have decided to purchase another robot to do a comparison on these 2 settings to find out which is the best at the start of next month.
Update: I have changed my mode setting to Aggressive on 19 Oct.
I would appreciate if you can support me by purchasing the btc robot through this link: http://bitcoinworldwide.net/go/btc-robot
(Do send me an email with your btc-e bitcoin address so that I can send you 0.1 BTC at the end of the 60 days trial as my way of saying thanks to you for supporting me.)
If you have any questions, feel free to contact me here.
To your bitcoin trading success!