avatarMichael Whittle

Summary

Michael Whittle shares his trading bot's performance, configuration, and updates over a specific period, emphasizing the bot's resilience during market turbulence and discussing the transition to a new trading pair.

Abstract

Michael Whittle has provided an insightful account of his trading bot's performance, specifically from March 1st, 2020, to April 15th, 2020, and later updated with changes made until April 20th, 2021. Despite challenging market conditions, including significant crashes, the bot demonstrated robustness with a total net profit of £229.12 across various cryptocurrency pairs. The bot executed 31 trades with a 1.69% margin after fees, resulting in 26 wins and 5 losses. Whittle manages five bots, each trading with £500, and employs a strategy of transferring profits to his bank account after successful trades while allowing subsequent trades to mitigate losses. He also highlights the integration of Telegram messenger support for real-time updates on the bots' activities and suggests that manual intervention can be beneficial under certain market conditions. The article includes detailed configuration files for the bots and concludes with a recommendation to follow his Medium publication for further updates.

Opinions

  • The author believes in the effectiveness of his trading bot strategy, as evidenced by the profitability during a period of market volatility.
  • Whittle values the use of Telegram for messenger support to monitor the bot's activities in real-time, considering it a significant enhancement.
  • He suggests that manual trades, particularly with XLM-EUR, can be highly profitable when executed based on support levels identified through platforms like TradingView.com.
  • The author has a positive outlook on ADA-GBP as a trading pair, having replaced XLM-EUR due to its tendency for large swings in profit and loss.
  • Whittle encourages readers to follow his work for ongoing insights and updates on his trading strategies and bot performance.

PyCryptoBot Results and Config

New trading bot strategy configurations are often being discovered, but this was the config I was using at the time of writing with results

I wanted to share my bot results and the config I’m using. I get asked this question a lot in Medium comments, emails and via the Github repo.

Here are my results from the 1st of March 2020 until the 15th of April 2020. It’s worth mentioning that the last few weeks have had very turbulent market conditions with a lot of crashes. These results demonstrate how the bot handled in tough conditions. In normal conditions these figures are typically double or triple.

XLM-EUR Trades: 6 Margin (After Fees): 0.81% Net Profit: £13.87

ETH-GBP Trades: 6 Margin (After Fees): 1.98% Net Profit: £61.85

BTC-GBP Trades: 7 Margin (After Fees): 0.77% Net Profit: £24.32

BCH-GBP Trades: 4 Margin (After Fees): 3.16% Net Profit: £64.45

LTC-GBP Trades: 8 Margin (After Fees): 1.73% Net Profit: £64.63

Net Profit Total: £229.12

Total Trades: 31 Margin (After Fees) Total: 1.69% Total Wins: 26 Total Losses: 5

I have 5 bots trading £500 each. If the bot trade is successful I move the profits to my bank account (on Coinbase Pro this is free and instant for UK users). If the trade is a loss I let the next bot trade(s) fix it. This is my additional income generator if you want to call it that. Mostly the bots just run completely automated but sometimes I trigger manual sells.

If you are interested in how and why I sometimes trigger manual limit sells please refer to this article.

This is the config I’m using for my bots. Please include your own API keys in the relevant places. I recently added Telegram messenger support to my bots. If you are not using this then just leave that section out. If you would like to add it please read this article.

I highly recommend enabling Telegram for your bot(s). It gives you such a nice real-time view of what they are doing.

config.json

BCH-GBP config.json

{
    "coinbasepro" : {
        "api_url" : "https://api.pro.coinbase.com",
        "api_key" : "",
        "api_secret" : "",
        "api_passphrase" : "",
        "config" : {
            "base_currency" : "BCH",
            "quote_currency" : "GBP",
            "live" : 1,
            "sellatloss" : 0
        }
    },
    "telegram" : {
        "token" : "",
        "client_id" : ""
    }
}

BTC-GBP config.json

{
    "coinbasepro" : {
        "api_url" : "https://api.pro.coinbase.com",
        "api_key" : "",
        "api_secret" : "",
        "api_passphrase" : "",
        "config" : {
            "base_currency" : "BTC",
            "quote_currency" : "GBP",
            "live" : 1,
            "sellatloss" : 0
        }
    },
    "telegram" : {
        "token" : "",
        "client_id" : ""
    }
}

ETH-GBP config.json

{
    "coinbasepro" : {
        "api_url" : "https://api.pro.coinbase.com",
        "api_key" : "",
        "api_secret" : "",
        "api_passphrase" : "",
        "config" : {
            "base_currency" : "ETH",
            "quote_currency" : "GBP",
            "live" : 1,
            "sellatloss" : 0
        }
    },
    "telegram" : {
        "token" : "",
        "client_id" : ""
    }
}

LTC-GBP config.json

{
    "coinbasepro" : {
        "api_url" : "https://api.pro.coinbase.com",
        "api_key" : "",
        "api_secret" : "",
        "api_passphrase" : "",
        "config" : {
            "base_currency" : "LTC",
            "quote_currency" : "GBP",
            "live" : 1,
            "sellatloss" : 0
        }
    },
    "telegram" : {
        "token" : "",
        "client_id" : ""
    }
}

XLM-EUR config.json

{
    "coinbasepro" : {
        "api_url" : "https://api.pro.coinbase.com",
        "api_key" : "",
        "api_secret" : "",
        "api_passphrase" : "",
        "config" : {
            "base_currency" : "XLM",
            "quote_currency" : "EUR",
            "live" : 1,
            "selllowerpcnt" : -2
        }
    },
    "telegram" : {
        "token" : "",
        "client_id" : ""
    }
}

*** UPDATE: 20th April 2021 ***

I swapped XLM-EUR for ADA-GBP. Although you can make huge profit on XLM trades on a good day, the losses can also be immense as well. I have also run some analysis and ADA seems not to mirror Bitcoin/Ethereum exactly.

If you ever see the XLM price crash out to low 30 cents buy and hold. It will almost surely jump back up to high 30’s or even 40’s and you can make a huge amount. This one is probably better to manually trade using TradingView.com. What I would do is look at the lowest support levels and add limit order “buy” just above it. You can make 20%+ on one a single trade this way.

XLM-EUR config.json

{
    "coinbasepro" : {
        "api_url" : "https://api.pro.coinbase.com",
        "api_key" : "",
        "api_secret" : "",
        "api_passphrase" : "",
        "config" : {
            "base_currency" : "ADA",
            "quote_currency" : "GBP",
            "live" : 1,
            "sellatloss" : 0
        }
    },
    "telegram" : {
        "token" : "",
        "client_id" : ""
    }
}

Just a reminder, all my technical analysis and PyCryptoBot articles can be found in my Trading Data Analysis publication on Medium. If you would like to be kept up to date with further updates, I recommend following the publication.

I hope you found this article interesting and useful. If you would like to be kept informed, please don’t forget to follow me and sign up to my email notifications.

Michael Whittle

Trading Bot
Crypto Trading
Bitcoin
Python
Algorithmic Trading
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