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A Thread For Newbies, Intermediate & Experienced Users to Share Ideas & Learn About PATS. Help Out by Posting Questions, Answers & Comments Here Please...THANKS! :-)

BurtscoinBurt Parsons
  • 2
  • 12 Dec '17

Hello Club Members!

This thread is intended as a place for newbies, intermediate users and our more experienced members to meet and share questions, answers and ideas with each other. Hopefully over time this thread will become a source of some great information for Club members.

Maybe you are here trying to learn more about the Personal Automated Trading System (PATS) or perhaps you're setting up auto-trading strategies for the first time. If so please feel free to post a question. If you are a more advanced user, please help answer questions from people who need answers and feel free to post any advice, tips or tricks you have learned about using the PATS system and trading in general. If you have any favorite strategies that are doing well for you then please share those here too. Wishing you all a happy & profitable automated trading experience!

Burt

kissnasSergio
  • 12 Dec '17

Hi, while I understand how PATS works, I did not realize that originally given 3 PATS for free. Is it possible to get a few more PATS for the sample?

BurtscoinBurt Parsons
  • 1
  • 17 Dec '17

Sergio,

The number of initial free PATS strategies are set at 3 by the company so that new users can test the system before spending money. Perhaps you can post a private topic to Mario and discuss this with him or better yet contact the company by sending them an email to ADMIN@BMYBIT.COM with your suggestion :-)

Burt

BurtscoinBurt Parsons
  • 17 Jan '18

Strategy Tip: I have learned that by setting my "Risk % stop loss" higher, it will keep the strategy from closing at a loss if the coin has a big drop in price. In my opinion the default setting of 25% just isn't high enough for many coins. Especially the more volatile ones. Since I've been setting my risk to 75% or more I haven't had any trouble with the strategies terminating at a loss. Higher risk equals higher rewards a lot of the time in crypto. Here's a picture of one of my strategies I used a while back:

strategyrisk.png

MarioMario Stumpo
  • 18 Jan '18

Thank you for this, Burt! But... guys, please don't risk more than you can afford. The recent collapse of a certain scam platform (I will not make any name in here) should make you aware of the fact that some assets are very very risky.

belphegorySir Belphegory
  • 2
  • 19 Jan '18

Disclaimer: I am not a financial adviser and anything I tell you is of my own opinion.......

Right, having said that.....I don't want my trades to terminate unless I say so.
If that means markets take a 90% nose dive....I know I'm safe from any loss...and when the markets come back up...I still wont have lost anything(if I was clever I would have a little BTC stashed away and bought a few altcoins when they were low, but realistically speaking who does :-/ ) so for me I set all my trades to 100% risk.......go big or go home!
If I terminate after a sell I've lost nothing.

On the other hand: Choosing a profitable trading pair depending on current market values, is where you have to do your homework and where you should let Bmybit make YOUR money work FOR you.....instead of sitting in an exchange and fretting about setting sell and buy orders too low or too high and then missing the mark and then have fees chip away at your profits due to constant order cancellations when you realise you have totally misread the market....again! cough doesn't sound at all like me cough

:)

BurtscoinBurt Parsons
  • 1
  • 28 Jan '18

Thank you Mario and Sir Belphegory for your comments...both great and informative!

BMYBitTraderDerek Trotter
  • 6 Feb '18

Could somebody shed some light on the correct way to use:

a) harmonic mean

and

b) st deviation

when creating strategies.

I've been using:
st deviation/harmonic mean x 100 (to get a perentage) and using this to form my min profits steps.

However, this is probably complete nonsense so any advice and examples would be appreciated.

Thanks

belphegorySir Belphegory
  • 6 Feb '18

That's a very good question....I wouldn't mind knowing the answer as well?

I would have taken it to mean how volatile the crypto is? Maybe its how Bmybit makes or predicts the market value of it??

Any ideas guys?

BMYBitTraderDerek Trotter
  • 7 Feb '18

Yeah. The standard deviation is certainly an indicator of risk and volatility.

I'm really trying to find out which price/number to apply the standard deviation to. And the way this should be done.

I've been using the harmonic mean figure as I mention above, but often the harmonic mean is very far off the current prices, so I'm not so sure what I'm doing is correct or even makes any sense.

This site and concept is very clever but my real criticism is that the designers and programmers are obviously very clever people but seem to assume that users have the same core knowledge they have and will be able to work everything out without any help.

There really should be a step-by-step guide, certainly with examples of use, for all these parts of the site, to avoid hours of time wasted and also to achieve optimum results.

This undoubtedly would increase uptake. I for one have friends with considerable portfolios who would utilise this service, but not without clear instruction.

Mario, please make this a priority.

belphegorySir Belphegory
  • 2
  • 7 Feb '18

There is a step by step guide....here:
https://drive.google.com/file/d/0B2arAAqcsJXQeFdHUlpIUF9jTjA/view

Its a little outdated but still very relevant.

I'm sure they are working on a new version (especially for the new site!)

To be honest...I haven't been using the harmonic means or std deviation numbers.......I have been looking purely at the graphs and seeing how the markets have been doing....then I go to tradingview.com and check the 50/100/200/ day MA among other things for that pair. I also check the volatility and where the price is before I start the strategy. Like if you can see the markets just had a nice pullback and its down.....start it.

If the market is on the up and the MA is showing it can go further, then buy....but becarefull....cos if you start a strategy on a peak...PATS will buy and can only sell once markets go past your initial start and go relatively close to the set profit margin.....so if you set 10% it might not reach there for a good few days or even weeks.

Be smart.....not greedy. If you see its looks like a peak...hold off. Check again later....sometimes even 12 hours is enough for it to come down...and THEN you start. (or you hear on the news something about this altcoin and its going to be used somewhere for something) then start and set that profit margin high! :)

Good luck!

BMYBitTraderDerek Trotter
  • 7 Feb '18

Hi Sir Belphegory,

Thanks for link to the guide link. I'm quite familiar with the site as it is but appreciate your insight into your trading strategies and your use of TA separate from this site.

I would imagine that a certain amount of this may be built into the algorythms (RSI, MA), but certainly you're right, that doing your own homework before opening PATS strategies is hugely important.

I think the type of guide that users will be looking for would be more in depth. I have found useful bits if info in videos that Mario puts out, but a couple of times I found the video information AFTER it would have been useful. For example I previously assumed that strategies could close on either side of the trading pair (as you would). But in fact found out that this isn't the case although they are looking to change this in the future.

Mario made particular reference in a video that Standard Deviation and Min profits for fills are very closely correlated, therefore again, even if they used a hover with a "How to use Tip", with a short explanation and example, this would be useful.

I read with interest your previous chat and explanation of how to use PATS in the chat window and it was very useful. I put the info you gave to good use.

Good to have a helpful chap like yourself around.

belphegorySir Belphegory
  • 8 Feb '18

Ahh ok then :)

I agree, a bit more in-depth manual could help. The mouse hover tool-tip is actually a very good idea....that could help beginners immensely...and when it starts to annoy you, you can turn it off under "Settings"...I like it! Perhaps they already have something like it for the new site.....we just don't know yet.

I must have missed that video....

I give credit to the website devs....it was a brilliant idea to have the chat persistent! I looked there first when I started too.
Thanks very much for the compliment.....though I'm still learning....I'm happy to help.
:)

BurtscoinBurt Parsons
  • 1
  • 8 Feb '18

Great posts guys! I too want to learn more about all of this! Can you offer any insight into what these people are posting here and wanting to know more about Mario? :-)

belphegorySir Belphegory
  • 13 Apr '18

Sooooo.....anyone got thoughts\updates on the new site and especially dynamic strategies?

BurtscoinBurt Parsons
  • 20 Apr '18

I like the updates to the site but have yet to use the dynamic strategies but I'm about to set one up.

CoinWhaleRyan
  • 22 Apr '18

Why isn't the Binance Trading API function working?

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