A month in with Stoic (Cindicator altcoin trading bot)

A month in with Stoic (Cindicator altcoin trading bot)

By bengy | Idle Musings | 10 Jan 2021


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So, I've now had a complete month with the altcoin trading bot from Cindicator and I have to say that I've been pretty happy with it. Just to quickly recap... Cindicator is a platform that combines AI and human analysis of cryptocurrencies and traditional markets. It then sells these market insights to traders... analysts are paid out in CND tokens for positive balances of predictions over a month, and CND is used to subscribe to market analysis.

I've never really been interested in the market analysis, as I'm not a day trader or anything like that... so, the market intel is wasted on me. However, the idea of an altcoin trading bot with a relatively low buy in (1000 USD, and 5% yearly fee) was intriguing enough for me to give it a look. It requires a fresh Binance account to be given full trading API controls over... don't set this up on your normal Binance account, or you will see everything rebalanced!

So, after roughly 35 days with the bot, it has recorded a pretty decent return on the initial 1000 USDT float. However, I've been ultra cautious with the bot... I've been withdrawing funds as it stacks up to pay off the initial float. I'm not greedy, I'm wired to be much more cautious! I've been holding these funds in BUSD savings in my main Binance account just in case. So far, the bot has nearly paid off half of the initial float, so I'll be expecting it to pay off the float in this coming month or so... However, I've also let the total amount available for the bot to grow a little bit as well... but I'm skimming off 10-50 USD worth each day to make sure the float is paid.

 

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The Binance account that is attached to the bot is rebalanced daily based on the crypto intel from the Cindicator AI/analysts. Recently, Cindicator sent out an email to all the bot runners saying that they realise that the crypto market is a bit overheated at the moment and gave us all options to hedge a portion of our bot balance in either BTC or USDT.

I ended up choosing to hedge 10% into BTC. By skimming off into BUSD, I was essentially doing the hedge into USD manually each day anyway. So, I preferred to have the extra exposure in BTC instead.

So, these days, I just log in and market sell a portion of the BTC that is built up as the hedge into BUSD and do a straight transfer into my regular Binance account to stick in the savings (or Launchpool) product. Makes it much easier than selling off little bits and pieces of the various altcoins that the bot has built up... and most of the time, the 10% of an altcoin balance wouldn't be enough to get over the minimum 10 USDT trade.

 

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Still, despite the decent returns on the bot... I am still very very cautious about the long term viability of the bot. In this last month of crazy bull running... any idiot can make a profit in USD terms just by face-rolling on the keyboard. The real test of the bot will be how it performs when the markets face a correction.... of course, hopefully, by that time I will have stopped crippling the BTC hedge by withdrawing into BUSD... or maybe it is a good idea to keep a hedge in BOTH BTC and BUSD!

I'm looking forward to the next month, as I'm expecting the initial float to be paid off... and from there, I'm just playing around with toy money on this account. No fear of loss, as the initial investment is recovered.

I do hope that further updates to the bot will give us the option to maximise for EITHER BTC or USDT. At the moment, the bot maximises for USDT whereas I would prefer to maximise for BTC instead.

 

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The yearly fee only takes into account the starting amount... so, I can always redeposit the amounts that I've skimmed off at a later time.... either to keep the bot afloat if it goes in the red, or to try and turbo charge it. Not sure that either option is a good one, but I'll see... if there is toy money to play around with (not the initial deposit), I might consider it.

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Originally published on my HIVE/STEEM blog!


bengy
bengy

I am a Musician (Violinist/Violist) specialising in Early Music living in The Netherlands. I have a background in Mathematics and Physics due to an earlier tertiary level study... and so, I'm still quite interested in Science and Technology related stuff!


Idle Musings
Idle Musings

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