thetradingparrot
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I'm adding extra SOs to 2 Bebek's deals
🕑 Added 2021-08-19 09:16:25 +0000 UTCBebek had 3 deals filling all SOs yesterday.
- I decided to add manually more max deals to two deals: LINK (6 in total, +2) and XEM (5 in total, +1).
- Deals that have filled 4 SOs but the price is above the last SO I will only stay vigilant. LRC is the only one I have and it's only 3.5% down.
- Deals that haven't filled 4 SOs I'm ignoring them as usual.
This means that I'm increasing the risk because if the market keeps correcting and the extra SO don't help closing the deals I'm risking ending up holding a considerably larger red bag.
I'm doing it because I believe there's higher chances that we return to green compared to a longer term bear market.
As I mentioned in other posts S&P 500 correcting heavy is one reason to be careful, but I'm deciding still to try to rescue these two deals on tokens that I believe have decent upside prospect.
Remember: do your own research before mimicking me or anyone else! in crypto you need to be with a mindset prepared for surprises, and I am, I wouldn't mind holding these two if I'm wrong with this call. I'm not thinking that because I added extra SOs I'm guaranteeing to close them all and soon. I'm only paying to give them "some extra chances to close sooner".
VERY IMPORTANT: Never add extra SO's to an open deal without double checking the chart first. If the price was already way below the level each new SO was supposed to be opened then as soon as you add it it will fill it at the current price. SOs in most of our bots are using limit orders so if the price was already below the limit of the new SO then it will get filled almost instantly. I tend to only add extra SOs when I suspect the price will reach the area of the upcoming SO. In Bebek we use step scale of 1.3, which means that each SO is placed 30% more separated than the previous two SO's were. You can check the chart and see how the SOs are drawn and understand around where the 5th and 6th would stand in the chart by eye, or if you are picky you can calculate it too by measuring the previous distance between SOs and increasing it 30% (1.3 step scale). And, if the price is still above that, then I normally add one or even two extra SOs expecting them to get filled only if the price keeps dropping. If the price was already way below the next area of a potential SO, then I don't use add SOs. I would then use the add fund simulator or TA to "add funds" using a limit order at a level that I expect to be strong support or when RSIs get oversold, but that's definitely more advanced!
Comments
I was having some red bags when you post this message, I had some cash to them and now, problem solved, great heads up.
David May
"ou can check the chart and see how the SOs are drawn and understand around where the 5th and 6th would stand in the chart by eye, " How do you see the orders on the chart? Is this a 3commas feature?
David May
Yeah, it's not gone well for Bebek, I have bags of UNI, Link and ETH
Hey thanks for the update. Bebek has been an absolute killer bot for me. I have it Orchestrated now following your advice. I run a maximum of 6 safety orders on the bot though personally which covers just over a 20% corrections. I have the base order at $75 and SO at $150 so maximum cost if just a little over $9k. I'd likely also buy the dip with large additions of funds if things got dicey so as to try and clear red bags quickly if needed. I note as I'm writing this all the deals have now cleared except EGLD.
