thetradingparrot
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Time to take some decisions and prepare
🕑 Added 2021-05-12 10:20:43 +0000 UTCNow that we are well in the green (we should be!). You should start to think to switch off some bots or reduce your exposure to leverage, buy-the-top bots, low cap token bots, etc.
Perhaps flipping some funds to some bearish bots instead like Martyn, Dilan, Safira, etc. would be best.
I'm looking at the TOTAL2 daily chart and I see the following things:
- From 1 to 2 we got a STOP signal and a couple of TOP from our Parrot Ratio indicator then there was a correction of ~33%. Many of you are still carrying red bags from then. We are in an equivalent scenario right now: right before the dip.
- From the START signal after 2, we've done pretty much a straight line up with only a few minor corrections.
- The longer we take to correct the more likely that and more intense it will be once the correction deploys.
- We are on moderate risk territory and a decent correction can happen from now any time.
- Drawdown is at a minimum: indicating price should drop.
- Negative divergences both in RSI17 and RSI14 daily: price should drop
- Paid signal indicating a correction coming.
- CM_Laguerre PPO PercentileRank indicator (free) entering moderate risk area.
As usual this doesn't mean I'm going to stop all my bots. I'm actually not stopping any of the ones I have currently running. This is because I already have pretty much 40% invested in bearish bots (Safira, Dilan, Martyn).
If you have too much exposure to leverage tokens or low cap start adapting your strategy to benefit from that rather than get punched in the face once more.
Conservatives and red intolerants: flip more of your funds to bearish bots, switch off high risk ones.
Aggressive investors and seniors: some of you might be tempted to keep things running. It's true this can run hot still for many days without any correction and you don't want to miss out on those extra gains. Make sure you have the extra funds, the extra time and expertise to exit deals in red.
Comments
I'll work on more bearish bots soon
can you explain more detail of your "simple ones for top market cup and Volume coins"?
perfect!
https://thetradingparrot.com/knowledge-base/risk-profile-of-bots-in-the-dashboard?swcfpc=1
do you mean like Martyn? I love using these for when the market gets too hot to catch the dip
Martyn, Dilan, Safira, etc are suitable for bearish market. Any advise about what additional bots would work better in a bearish scenario? Thanks
Aside from some composite bots I have also few simple ones for top market cup and Volume coins. How do you think they will react to a bearish market?
I have had a lot of success with USDT Bakkar Moderate and Defensive bots during drops. They use the QFL signals. My most profitable days have been when these bots fire on red days.
Can you be more specific in what bots are for the bearish market? I'm new to trading and I don't know how to identify them yet. I have on all that you specifyed as on in the panel. Thanks a lot!
What about "buy the dip bots" these seem to be pretty inactive recently. Are they going to be used or should the funds be converted to something else?
Merita I have it off currently. Bakker did pretty great last dip so I'm keeping it on for the next price correction.
Do you have any suggestions for some one like me that likes to run mostly Bakker and Merita? Shall I turn them off or do we have any bearish BTC bots in the dashboard?
