Riding The Red Waves

Sometimes the markets don’t go the way you want them. It’s okay, we’ve all been there. In fact, you MUST get there if you want to reach the moon in due time. Learning to deal with problems and liquidations is one of the most important aspects of trading.

It’s hard to resist the FOMO, but fear not for I will teach you the Art Of Zen in the land of Falling Knives.

I remember one time, I was part of a trading bot beta team, so before each release we’d receive the updated algo to go ahead and try it. So I armed it with my strategy, gave it its marching orders and sent it off to take over the Poloniex markets. Unaware, I looked after it for a bit and went on with my daily chores. Oh boy…

So, back then Poloniex had decent volumes, a nice shitcoin portfolio and an awesome lending market. So I had a trading bot running the markets and a lending bot lending out coins to speculators, it was awesome. But, unbeknownst to me, the trading bot was flawed. It had an issue in its logic. It was illogical.

I came back a few hours later to find 2.5 BTC spread in over 20 shitcoins. It was devastating and painful.

Eventually, and luckily for me, the market recovered and I more than quadrupled those coins in that month. But only because I was lucky. I decided that algos needed to be better overwatched by yours truly and that I should never let one manage the trades on its own.