Crypto Bots discussion

[Keitzy]

I can see the advantage of it auto trading for you just not really my thing.

How do you work out your CGT on those 75 trades mike.? Are transactions/trades listed individually with a profit/loss.? Or are you able to average it out over say a month and work it out from that.?

 

[Mike678]

Not sure what you mean by CGT ? They are all listed individually and showing the profit . The amount the bot buys is the same and that depends on the number of lines in the grid . It uses USDT to buy XRP . If the price does not go up it will just sit there as unfilled . If you close a bot down you will get USDT and XRP which are the unfilled orders . So your loss will be buying XRP at a lower price . If you are confident the price will go up , you just leave the bot running . The orders get filled quickly once the price starts to rise .

BTC and Ether are down to day .

 

[silver]

Jeeeez..... couldn't ya make some serious money if you knew the bot algorithms for buy and sell predictions in the long term (maybe) maybe only if you were the one who made the bot though .... buy in x ammount once the bot sells then once it goes up again sell x.
yust yo yoin on the other end of the string

 

[Topenda]

CGT= Capital Gains Tax :Y:

 

[Mike678]

ATM only trading very small amounts . One bot is doing $5 per trade .

 

[Keitzy]

Doesnt matter how small, you still have to pay tax on the gains.. can you get a .csv file or similar for all trades with profit/loss on each trade.?

 

[Mike678]

I have not looked into it . Many years ago I was dealing with an s.p. bookie [illegal at that time ] . Thousands of dollars were traded . ATO never looked into it , it was a hobby . I had a full time job .

All phone calls were transferred to his partner who was on a boat off the coast .

 

[Mike678]

As I can see there is never a loss on the trades . You end up with cypto , say XRP that you bought at a low price . If you sell it then you are selling it at a loss . JMO .

 

[Simmo]

Doesnt matter how small, you still have to pay tax on the gains.. can you get a .csv file or similar for all trades with profit/loss on each trade.?

You don't pay tax on individual trades, just the whole trade scenario over a period.
But I get your point, and I looked to see where I could download a .CSV or something and couldn't find anything.
So I called up support and they can give you a report of every trade.
But not a balance sheet per se.

The reporting is done on the reports page, I have clicked on differant displays for each of the coins I am testing, so you can see what goes on.
Hopefully that helps with your query.

 

[Mike678]

We are all in the red to day . Hope we can go green to morrow or the next day . :| :| :|

 

[Simmo]

Also I thought I would share some research I have been following..
Keep in mind that the algorithms of the Bot mostly do this for you, so it will be interesting to see how the Bot performs in the next 6-12 mths..

https://blog.quadency.com/how-to-read-candlestick-charts-patterns-crypto/

 

[Keitzy]

Doesnt matter how small, you still have to pay tax on the gains.. can you get a .csv file or similar for all trades with profit/loss on each trade.?

You don't pay tax on individual trades, just the whole trade scenario over a period.
But I get your point, and I looked to see where I could download a .CSV or something and couldn't find anything.
So I called up support and they can give you a report of every trade.
But not a balance sheet per se.

The reporting is done on the reports page, I have clicked on differant displays for each of the coins I am testing, so you can see what goes on.
Hopefully that helps with your query.

https://www.prospectingaustralia.com/forum/img/member-images/4105/1629274506_untitled.jpg

Thanks mate.

 

[Mike678]

I have now got 5 bots running . XRP/usdt DOT/usdt ADA/usdt HNT/usdt FIL/usdt .

I have started 3 to day , I don't want to have all my eggs in one basket . All have small amounts of money in , just testing the waters .....

I am happy with my first two but a few months need to go by to get a proper idea .

 

[Simmo]

I've still got my three running but most definately paying for selling and reinvesting when I got near my upper limit with XRP.
You can see the yellow line where I bought back in, then the coin immediately dropped.

I've got to watch it closer and either sell and buy back earlier, or my next test if it happens again, it to wait it out for 3-4 days?

You can also see that the other coins are happily trading away right in the middle of my limits.

 

[Keitzy]

Hows your gains looking % wise so far mate.?

 

[Simmo]

Hows your gains looking % wise so far mate.?

So about 16.6 % from my reckoning, on the manual selling and reinvesting.
But the bots are still running so I'm going to try and concentrate on mid to long term?

 

[Mike678]

Had to stop my DOT/usdt it had got out of range and no longer trading . Re set on $25 - 40 Grids 55 Profit should be 0.60 - 1.01 % .

The old one ran from 16/8/21 to 1/9/21 and made a profit of 13 % all reinvested in the new one .

From what I understand , the first $10,000 of capital gains is tax free .

 

[Mike678]

I have had bots running for 4 weeks now . Not all of them have done 4 weeks . Made over 10% and I am happy with that .

 

[Keitzy]

Better than in a bank savings account thats for sure

Im up 57.95% the last 30 days just HODLing

 

[Keitzy]

And on a plus note, BTC back over 50k .us