247-PROFIT Trading Software
This will be a simple and straightforward guide to educate those interested in learning more about the 247-PROFIT trading service and are looking to get into crypto trading with it. This is not meant to be an in-depth or technical guide but more of an introduction.
What is the 247-PROFIT trading service?
247-PROFIT provides a trading service that runs on a dedicated virtual server which will trade cryptocurrency coins for you automatically on various exchanges. It does this by continuously pulling and pushing data to and from the exchange to “watch” the market there. It uses this information to make decisions automatically for when to buy new coins and when to sell the coins you hold.
How does the software make these decisions?
The software makes buying and selling decisions based on various settings that can be adjusted in the configuration files (We’ll get to those in a moment) on your VPS. In practice, the bot tries it’s very best to follow the age-old market rule of buy low, sell high. How does it do this?
Let’s create an example:
Based on our settings, the software is ok with trading ABC coin on the market. Since we have available money in our account the software will watch ABC to try and figure out what is a good time to buy it. ABC coin starts to drop in value and the software notices this. Remember the software is talking back and forth to the exchange many, many times a second so it can see these changes in real time. So now that the software sees that ABC is dropping, instead of buying right away, the software says, “Hey maybe if I wait around just a bit and see what happens I might get a better deal” This is what is called “Trailing”. The software will continue to “trail” the value downward, watching it very closely. Suddenly, somebody else has bought into the coin and the value begins to rise. The software says, “Oh, the value is going back up, it’s reached a good buy in price, I’m going to buy ABC now!” So the software automatically places an order with the exchange to buy a set amount of ABC.
Congratulations, you now have a bunch of ABC coin! But you only want to hold it till you can make a profit right? So how does the software know when to sell ABC coin?
In our above scenario let’s assume that after the software bought ABC that it continued to drop in value a little more and now the coin is -5% under your bought cost. This means that the bot will not sell ABC until the value rises at least 5%, because only then would you be able to make a profit. Remember, buy low, sell high! As the coin rises in value it will be watching it very closely as it increase in value. Once the value of the coin rises to above your initial buy in cost, the software says, “Yay! We’re in the green it’s time to start following the profit UP!”. The software will do the same thing as it did when looking to buy a coin but in reverse. As the coin continues to rise in value, the bot will keep a VERY close eye on it’s value. At some point somebody is going to start selling ABC coin and the value will start to decrease. That’s when the software says, “OK the value is dropping now, I’ve rode the profit wave up as much as I can, it’s time to sell!”, and instantly places a sell order for all of your ABC coin. You’ve made a successful and profitable transaction!
Help! My coin went down a lot in value, how will I ever make a profit!
Sometimes, no matter what, the software is going to buy a coin that it thought was a good deal, but because of the volatility of the market, the value of the coin may continue to drop. Let again look at ABC coin and see how the software tries to get out of a bad situation.
So the software purchased ABC coin, but unfortunately, the value of the coin has continued to drop. What can the software do to try and help you dig your way out of a big profit hole? This is where DCA comes into play. DCA stand for “Dollar Cost Averaging” If you want to read more about the specifics of DCA you can read up on it here: https://www.investopedia.com/terms/d/dollarcostaveraging.asp
With DCA you can substantially cut the amount of value the coin would have to gain in order for you to sell back to the market at a profit. With our ABC coin, let’s say we bought one coin for a dollar. Since our buy in the value has dropped 25%, what we have now in ABC is only worth .75 at the current market value. Instead of waiting around for the value of ABC to rise a whopping 25% just so we can sell at a profit, we can DCA or “Double down” on our investment price by buying twice the amount of ABC coin at the current .75 price. Because of the way averaging works, we would then only have to wait for the coin to rise in value up to .87 cents for it to become profitable for us to sell. We can set the software to DCA at any point below the original value for as many times as we want.
IMPORTANT: Just remember each time the software “Doubles Down” on a coin it comes with double the cost! For example, if we were to double down 6 times on a $1 buy in value, the cost amount to do so would be as follows:
1st DCA on $1 initial buy in value= $2
2st DCA on $1 initial buy in value= $4
3st DCA on $1 initial buy in value= $8
4st DCA on $1 initial buy in value= $16
5st DCA on $1 initial buy in value= $32
6st DCA on $1 initial buy in value= $64
How much cash will the service make me every day???
It’s great to think about how much the software has the possibility of making you in USD each day, but you really need to primarily be concerned with how much BTC (Or ETH/USDT) it can make you a day. When you ask around, other users of the software will give you varying amounts of daily profit, ranging from .5% to 5% a day. There are MANY factors involved with how much the software will profit in a day. Settings, market conditions, ect, ect. But on average, with the bot setup properly and configured correctly based on YOUR capital, a range of 1%-2% can be expected.
I hope this helps give you an idea of our trading service works in the most basic of ways. Keep in mind there are many settings and adjustments that we will need to make to your configuration files that will fine tune when/how and why the software does what it does.