Let me set the scene for you.
SHIB is pumping and you want in.
So what do you do.
Bad timing. The coin is dropping.
But, you have faith in your strategy and you hold tight.
You're in the red and the Bitsgap software isn't helping the situation.
Ballooning your sum value to ridiculous highs.
Stuffing up your overall P&L.
You start questioning yourself.
How much did I initially invest?
What is my actual gain?
I sold some of my SHIB on the way down, is that accounted for?
Not long after, you cry.
Until you come across this post and see how to read the data in the Bitsgap interface.
The situation above, is what happened to me.
So, let me explain.
I started my SHIB trade with $1500 USDT.
How do I know?
Here is the maths, and please note, that I was running this bot with 11 grid lines.
You can see my average buy amount is 494836 and the buy price is $0.00002756.
That means each grid lines is roughly worth $ 136.38 USDT. (494836*$0.00002756)
We then times that by my 11 grid lines and get a total of $1500.00 USDT.
However, I had trailing down on and as a result, Bitsgap cancelled my top sell order each time it trailed down, placing that amount into my available balance and then placed another buy order below.
See how my balance finished up.
How did it blow up to $6124.87 you ask.
Here is the maths.
Difference between starting and finishing balance:
$1500.00 - $6124.87 = -$4,624.87
How much is each grid line worth?
We then divide the difference by the amount of each grid line to see how many grids we had to buy in the process of trailing down.
$4,624.87 / $136.38 = 33.9 grid lines
Let's call it 40.
So in the process of trailing down, we had to buy 40 grid lines and that came to a total of $4,624.87.
So where do we sit overall?
Let's take a look at the facts and see where I ended up.
We will use the Bitsgap bot analysis window for this.
You can see I am in the profit by $462.60.
A nice sum of money.
But is that the real sum I took home?
No it is not.
See, I was watching this thing like a hawk and I sold some of my SHIB on the way down.
And sadly, the Bitsgap software doesn't take these manual trades into account.
So, what impact does this have on you.
Well, if you sell on the way down, the bot doesn't update its values and it throws the top reporting metrics all out of whack.
These ones right here.
So, how do mitigate the chance of a heart attack?
You look at your exchange balances at all times.
These are your reference point.
Remember these bots are trading on your behalf, using the funds in your exchanges.
Take note of your wallet balances always.
And use the P&L updates in the exchanges as a way of seeing how you're going.
I have a handy spreadsheet for this, and will be updating it to my blog soon.
So, if you want a copy, sign up and you'll be notified when it is available.
I learnt the hard way with these balances, I lost out big.
So learn from me.
That's why I'm doing this.