My First Bybit Bot Trading Report - All Quiet On The Bitcoin Front

In the middle of August Bitcoin slumped in value from just under $30,000 to somewhere around $25,000. It would have been nice to have had a Bybit grid trading bot set up with several downside buying points in place.

Alack-a-day I set up up my first every trading bot the day AFTER the drop and for then next ten days or so Bitcoin went back to sleep.

Mind the Gap

I quickly realized that I had set the highest and lowest grids on my trading bot far too far apart, with the lowest buy position set at $18,000 and the highest sell position set at $52847.94 with 40 grids.

Forty grids might sound like a lot of trading options, but with such a big range between the highest sell price and lowest buy price, the gap between each grid is quite wide, and Bitcoin has been trading in a very narrow range, right in between two of my gridlines - hence that lack of trading activity on my trading bot.

However, last week Bitcoin suddenly showed renewed signs of life and was volatile enough for my bot to execute four micro trades for me, which I talk about in this video:

Here are some screenshots to show the current state of play:

My Bybit Assets

Four Automated Micro Trades

Some Of My Grid Bot Trading Positions

My Next Bybit Grid Trading Bot

I intend to set up another trading bot on Bybit later this month. I will set the upper and lower parameters much more tightly and narrow the range between the grids.

I'll talk about that in my next Bybit Bot Trading Report.

Cheers for now,

David Hurley
#RookieTrader
#InspiredFocus

P. S. Set up a trading bot for free on Bybit (not available in the USA):
https://www.bybit.com/invite?ref=RQE61B <== join via my affiliate link and I'll help you get started. :)