thetradingparrot
patreon
BEBEK new tokens and use of BO on riskier bots
🕑 Added 2021-08-16 14:04:08 +0000 UTC
New tokens added to Bebek bot:
USDT_AAVE, USDT_ADA, USDT_ALGO, USDT_ALICE, USDT_ATOM, USDT_AVAX, USDT_AXS, USDT_BCH, USDT_BNB, USDT_BTC, USDT_CAKE, USDT_DGB, USDT_DOGE, USDT_DOT, USDT_EGLD, USDT_ENJ, USDT_ETC, USDT_ETH, USDT_FIL, USDT_FTM, USDT_GRT, USDT_HOT, USDT_ICP, USDT_ICX, USDT_INJ, USDT_IOTA, USDT_IOTX, USDT_KSM, USDT_LINK, USDT_LRC, USDT_LTC, USDT_LUNA, USDT_MATIC, USDT_QNT, USDT_REEF, USDT_RUNE, USDT_SAND, USDT_SHIB, USDT_SOL, USDT_SUSHI, USDT_SXP, USDT_THETA, USDT_TOMO, USDT_TRX, USDT_UNI, USDT_VET, USDT_WAVES, USDT_XEM, USDT_XLM, USDT_XMR, USDT_XTZ, USDT_YFI, USDT_ZIL, USDT_XRP
Bebek bot has been doing pretty great thanks to
1) Once a week we make sure we add "hot social tokens" using lunarcrush. I'm using the altrank and galaxyscore to cherry pick them each Monday.
2) Low time frame to enter RSI and BB. This provides confirmation as we use both indicators together for extra quality signals.
3) We check for uptrend by using TV 1H and TV 4H Buy. The trend is your friend so we take longs on low timeframes as long as the higher timeframe is still bullish.
4) We prevent buying a potential top using RSI 4H < 70. This is not a guarantee but more like a good filter. It will help remove many "buy the top signals", but it's not enough to filter ALL bad signals. Many tokens can reach 90 on RSIs and then after a few days barely reach an RSI below 70. If this scenario turned out into a bearish RSI divergence then this filter wouldn't actually help.
5)I run BEBEK connected to the Bot Orchestrator (BO) SELL signal. This is an extra safety measure additional to that 4H RSI.
We should aim to manage to have Bebek switched OFF before the next big market correction and ideally with no open deals (same applies to any other risky bot we may have running).
50K to 51K BTC represents the golden pocket level for the past month correction, from bottom to previous ATH.
Historically BTC has ALWAYS reacted to these levels with big volatility and in many cases with a decent correction, before taking the next steps to the upside.
You can decide to keep your bots ON and take the risk and let the bags get full under the assumption that we are going to rebounce quickly*. If those assumptions were right then your bots would make the best deals as more funds would get used by each deal and they will end up closing quick (*=less than a week would be categorised as a "short wait").
In this scenario If you used the BO to stop your bots you'd missed out those great deals.
BUT if BTC takes a big correction but a while to recover** and resume with the bull run then you'd be happier by letting the BO stop Bebek and other risky bots so you can switch it ON once we are close to a potential bottom. (**=longer than a month would be consider as a "long wait").
Then which one to choose? with or without BO?
I think it depends on your level of experience. Do you know what you are doing?
Newbies, go with the extra protection that the BO promises to offer.
But if you've survived last May (and other crypto market crashes) and know how to manage risk, how to rescue deals, TA, and you are ready and keen for some potential manual intervention and the sweet extra gains that can come with it, then go without BO.
Although a decent correction would definitely NOT be appreciated due to its short term impacts to our pocket, it's actually one of the most key required ingredients in producing an impressive new ATH:
Retailers must be shaken off to allow big players to enter, so that those silly retailers can then re-enter on FOMO later at higher prices to then effectively take BTC to a new ATH.
If you know this upfront, then there's less likelihood that you end up playing this game like one of those silly shrimps.
Personally I will let the BO stop my riskier bots as usual and decide whether I want to manually resume them or wait. The decision will be based on what caused the correction, market sentiment, TA, etc.
And remember, the BO goal is to give you extra chances to spot an upcoming correction. Neither the BO or any signal ever created can't guarantee 100% accuracy finding a top or a bottom.
I try to see the BO just as an extra tool to help me manage my bots rather than the only thing I should rely on for safety.
If I had run it from Jan to June, I believe I would have more crypto in my account, but I know I wouldn't have dodged each and every single correction in a timely manner.
That's still the goal and with time we can perfection it, but it's good to keep our feet on the ground too.
Comments
For help on how to setup the orchestrator please ask on discord where moderators can assist finding the form or troubleshooting. 😊 thanks
David May
Great info, thanks
Yeah I can't find a link to the BO form shown in the YouTube video.
I think it's the "QFL single TF with alerts" by TheTradingParrot on TradingView
Hi thanks for all updates .. how do I add the Bot Orchestra to the bebek bot is there a video to help show this ?
Is it possible to have on trading View your SELL and BUY signal?
