This first post is written as an intro of the GSMG platform from a user perspective. This will include a 1-month test I have done since Binance trading is live. This post is both usefull for current users as for other people looking for ways to optimize crypto trading results without having to be an experienced trader with short nights.
To shortly introduce the bot; it is an optimized long term buy-low sell-high algorithm where the user stays in control of their own funds, and the machine can only read trade information and place limit orders.
The bot is fully automated, yet the user has to choose their own markets and set the allocation percentage of funds for those selected markets. Which means the maximum percentage of your available funds to be put to work for a selected market. Every market on both Binance and Bittrex can be traded by the GSMG algorithm. The bot never sells for a loss, so choosing markets solely on an active chart is not fitting the long term strategy of the platform.
In the past 14 months, the team has also released some advanced settings, which will be covered in a future post. The most important ones are trading aggression and minimal trade profit %. The default setting is a fairly conservative strategy, which is highly recommended for the first experience with GSMG. All of these extra advanced settings create the opportunity to use the platform as a trading tool instead of a fully automated bot, as it is intended. When using the platform, you are not able to trade manually on the exchange.
The GSMG crew and the community are always available for questions, and are very helpful & patient in answering. The team members will not be advising any markets or settings to use. Also advice from the community, is solely at your own risk. Pick markets that you trust in the long-term. Be sure to do as much as FA (fundamental analysis) before choosing markets. Share your findings and start discussion about the market selection and approach with other users of the platform, this will certainly increase the chances of good results. The bot will do all the TA (technical analysis) needed, it will use more than 120 indicators and will re-evaluate it's positions every 15 minutes.
The platform runs on “fuel”, this is an Ethereum wallet that is bound to your account of the platform. As a new user you start with 0.15 ETH worth of fuel to be able to try the bot out for free. Fuel is only deducted after making profits from completed trade pairs. The commission deducted is 25% of the achieved profits per completed trade pair and are post the exchange fee.
This cashflow will be used to pay for operational costs of the platform and in the future to pay the salaries of the GSMG team. I say in the future because the current revenue is far from sustainable to be able to keep upgrading and compensate the team of 8 people currently working on the platform.
Here are the links to the platform and their help center (manual & documentation)
https://beta.gsmg.io
https://help.gsmg.io
I started using the platform after I followed it for about 4 months, which was at the peak of the market, on 17/01/2018 to be exact. I started very small, and slowly deposited more funds as I got more understanding of the bot and trust in the team & product. This is what I would advise everyone. At that time, I had no clue what trading methods are and how to approach any market. I'm also a pretty stubborn, optimistic and naive one. You can imagine what my first months of results were....
Since summer of 2018 I feel like I know the system well, and have been intensely active in the community.
During the first weeks of Binance trading Due to very positive results I have shared lots of experiences in the community, and got even more requests for information, tips and tricks. So, how did my 1st month of Binance trading go? I started on 15 December (deposited multiple times in 14-26 December). Here is a small overview of my analysis of the trade history on Binance.
Be warned, these results have exceeded my expectations by a long shot. The strategy is optimized for the long term, and there will not be unlimited consecutive green months. As a disclaimer, all my analyzed markets have screenshots from Tabtrader below. The application is currently available for Android and highly recommended for monitoring the bot in a visualized manner.
*somehow i cannot get images on here* -> https://steemit.com/crypto/@boshugo96/lazy-trader
This post is in no way sponsered by the GSMG team. (well these mad profits last weeks made me wanna give back
)