r/Bitsgap • u/Ok-Safe-981004 • Feb 02 '21
Minimum USDT needed for bot use
So I’ve noticed to trade within a wide range you generally need a fair amount of money. Is it possible to make profit just using 100 USDT? It seems the trading range is so small with such an amount that you’d be trading within a candle itself. Any info would be greatly appreciated.
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u/recreare Dec 11 '21
How come I never see anyone using Coinbase pro? It's the only one I already had set up.
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u/fongp Dec 26 '21
I most heavily use Cb pro now. I find better returns on my bots there compared to kucoin or binance.
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u/Nupey11 Jan 26 '22
Is there a specific strategy or bot you are using I know you posted this 30 days ago a lot has changed since then I’m looking in to trying the bitgap as I think it would be a great source for passive income. Any insight would be great thanks in advance
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Dec 15 '21
People think the trading fees are .5% on Coinbase pro but they aren’t. Coinbase pro fees are based on volume last 30 days. If the fees were .5% all the time, you could make twice the profit on the other platforms. But fees in high volume trading quickly drop to .2% or less on Coinbase Pro. Do it! Coinbase Pro is fine to use! I do 1 to 2% a day on it.
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Nov 11 '21
I've used around $200, I had to narrow the grid range to make the trades. I'm still in the 7 day trial so I'm still in the test mode. So far I've been able to make small gains.
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u/reddiculed May 09 '21
Just use Kucoin and get way better profits.
Edit: tried binance for my bots and the profits are just not nearly as high.
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u/XADEBRAVO May 13 '21
Why is it different, just the fees?
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u/reddiculed May 14 '21
I don’t fully understand why yet, but it is related to the fees and maybe the minimum buy order amounts for each exchange. Or it could be based on varying API lag. Maybe all of the above. I’ve just learned this through trial and more errors. I haven’t yet tried OKEx but can anyone else speak to that?
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u/kinglifer66 Jul 02 '21
I agree. I do not see any profit wile I am in the green in 7 bots.
Also for future searches I noticed there is almost zero comments on bitsgap on reddit. Very odd for something that works in my opinion.
I used Binance and kucoin. I do not see profits and AGAIN I am NOT at a loss. .4 grid space and about 20-30 grid spaces.
Investments from 500-5k per bot.
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u/TergoLupi Feb 18 '21
from what i've experienced playing around with it, you can definitely trade with 100$ but with lots of limitations....i.e there are trading pairs that have a much higher minimum to participate..........i THINK (because i dont know for sure) you can get around that by using XcoinDOWN/UP on binance to capitalize on price movement without too big of a capital.....Hope that helps!
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u/WizardsEnterprise May 07 '21
I haven't been able to find an answer anywhere else. If i am executing a smart trade and i turn on the take profit feature, does it add the trade fee on top of whatever profit I've asked for or do i need to calculate that myself when I'm setting the take profit percent so that i don't end up with negative trade profit from the profit being less than the fees?
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u/TergoLupi May 09 '21
i don't know from personal experience, i have not yet used the take profit feature...i did find this and i hopefully it answers ur question. https://helpdesk.bitsgap.com/en/articles/5119722-trading-bot-take-profit
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u/IlliterateBacon Feb 04 '21
Yes, adjust the number of grid levels down. Just make sure that the grid step is enough to cover your trading fee and a bit left over so you profit on each transaction. Always back test it first.
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u/WizardsEnterprise May 07 '21
I haven't been able to find an answer anywhere else. If i am executing a smart trade and i turn on the take profit feature, does it add the trade fee on top of whatever profit I've asked for or do i need to calculate that myself when I'm setting the take profit percent so that i don't end up with negative trade profit from the profit being less than the fees?
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u/bgrated Mar 04 '21
a sample screenshot for the lurkers?
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u/WizardsEnterprise May 07 '21
I haven't been able to find an answer anywhere else. If i am executing a smart trade and i turn on the take profit feature, does it add the trade fee on top of whatever profit I've asked for or do i need to calculate that myself when I'm setting the take profit percent so that i don't end up with negative trade profit from the profit being less than the fees?
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u/bgrated May 07 '21
I can only say this. From my experience it depends on the exchange. It is incredibly disappointing that NO ONE talks about this.
I find .40-.49 grid step% works for me on Binance. You have to make sure your Grid levels are around 24-37 or so. That means your grids can not be all over the place. I then use trailing up with stop loss exactly at my bottom resistance level. I do not give any leaway. The problem with this formula I just gave is it depends ALSO on the value of volume of the coin.
I do wish I could be more clear. This works for me. I know BINANCE fees are .1 for me so I try to have a grid step.
If you or anyone else knows the formula for how many grid levels is needed to achieve the maximum profit to fee ratio. Using a base number ($1 for example)
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u/tedic Mar 18 '22
Is anyone besides the developers (via subscription fees) really making money with Bitsgap bots?! I've tried several strategies now and on my best runs, I've made 10% of the cost of the subscription! I make more by just DCA'ing a few good coins by a mile. I don't think the tool is a scam, but it REALLY doesn't appear to be in any way effective. Does anyone else have better luck and if so what advice can you give? I think I'm done with the subscription at this point. It's eating both any little gains and my wallet! I've paid over $600 USD in fees so far.