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PROCESS FOR JOINING BOTS

Skip to OMEGA
Skip to ALPHA
Skip to DELTA

Step 1: Do you want to invest in the cryptocurrency space?

 

Answer:

 

Yes - Go to Step 2

No - No worries, even though you might not be interested, we would suggest researching and reading about how Bitcoin came about and what is happening in this space. It is a very interesting journey and one that makes you think about the entire financial system. If you ever return and want to take the next step. Feel free to reach out :)

Step 2: Do you want to buy some Bitcoin or other Altcoins and hold? Or actively trade the market... using automated bots?

 

Answer:

 

Yes -  I’m interested to hear more about these trading bots as they look like they have potential and I've heard day trading can be a brutal game... - Cool, slide into step 3

 

No - I’m happy to just buy coins and hold coins - Sweet - the cryptocurrency space is so interesting. Strap yourself in for one hell of a ride! Click here to learn how to join up to an exchange and store in a cold wallet. Bye for now :)

 

 

Step 3: Tell me more about the bots and which is best?​

 

ALPHA-BOT: 

  • Trades will be on the futures markets for the chosen 10 cryptocurrencies 

  • Uses fully automated strategies that statistically perform better than buy and hold strategies

  • Longs and Shorts the market

  • Average around 250 trades per year. 

  • Performs well when Bitcoin and Alts are in trending markets, volatile and the ability to make money when markets are bearish or crash.

  • Uses the FTX exchange

  • More complex bot that trades on the perpetual futures markets with additional elements, however more potential for greater profits but this also comes with greater risk and volatility.

 

DELTA-BOT: 

  • Trades will go from BTC (Bitcoin) to ALTCOINS (i.e. ETH, XR, LINK etc)

  • Uses automated strategies that statistically perform better than buy and hold strategies

  • Only sells BTC into ALTS and vice versa

  • Averages around 50 trades per year. 

  • Performs well when altcoins are bullish and bitcoin is ranging. 

  • Uses the BINANCE exchange

  • Designed for the Bitcoin bulls

  • Note: If BTC crashes, this account will also crash (in USD terms)

OMEGA-BOT: 

  • Trades will simply go from BTC (Bitcoin) to USDT (USD Tether)

  • Uses automated strategies that statistically perform better than buy and hold strategies

  • Only Longs the market (no shorts)

  • Averages around 20 trades per year. 

  • Performs well when bitcoin is in a bullish market however, also provides protection when markets are bearish or crash.

  • Uses the BINANCE exchange

  • The simplest of all the bots.

What are the risks?

 

*General Bot Risks and Negatives:

 

  1. You will have to manage your own accounts for Wunderbit or chosen exchange. Depositing and withdrawing funds is all under your control.

  2. The bots all have periods of losses and underperformance. This can occur immediately, as soon as you start.

  3. There is the risk that trading exchanges break down or get hacked. Although very small, keeping your currency and/or coins on an exchange carries some risk.

  4. There is the risk that the TradingView alerts system malfunctions and some bot alerts may not trigger. Again, very small, however this will mean your trades are not entered or exited correctly. BSB monitors this closely to minimise risk and to stay on top of changes within this platforms. 

  5. Accounting and tax for your trades will need to be considered. There are some great platforms that specialise in cryptocurrency. Please feel free to reach out for a recommendation.

  6. All trades have a 10% stop loss coded in. Sometimes if there is a major sell off, the bot will sell at a loss greater than 10% due to slippage and market movement. When the market is in an equilibrium pattern, this can involve selling at a loss and buying back at a greater price. 

  7. Occasionally, Wunderbit, Binance and / or FTX exchanges perform upgrades which have in the past interfered with active trades. This may result in alerts being missed and the necessity of a manual override for some trades. BSB monitors this closely to minimise risk and to stay on top of changes within this platforms. 

 

Additional note:

There are many other automated bots and active traders out there to copy. If you find another good one, by all means go for it. Just be aware that it is uncertain how those bots perform over a variety of market conditions, whether or not there are stop losses, or the amount of leverage being used. It may be that certain bots achieve outstanding results in the short term but aren’t programmed to perform well in other market conditions. BSB bots have proven track record of performance in a variety of market conditions and historically do well over the longer term. The back testing performed on BSB bots is extensive and the founder’s personal capital is 100% allocated to these bots. This means that there is a (VERY) vested interest in their success, maximising performance and minimising risk. BSB is quality checked every day to ensure that trades are entering and exiting as they should. It is obviously up to you as the individual how you want to allocate your funds but it is always good to understand the risks. You are welcome to contact BSB at any point with any questions that arise.

 

 

Step 4: Still interested in using bots?

 

Answer:
 

Yes - I've seen the results and understand the risks. Happy to give the bots a go. - Great, go to Step 5

 

No - too confusing, going to just buy some Bitcoin - No worries, go back to step 2 and welcome to the cryptocurrency club :0

 

 

Step 5: Well done and thank you for following the bots :). Now to setup the copy-trading bots!

Part 1: Join BINANCE or FTX Exchange:

 

Note: If you choose to run the Omega and Delta which uses Binance, you will need to create a sub-account as both cannot be run on the same master account.

  • Deposit your fiat currency aka your dollars to the exchange (Alternatively, deposit your cryptocurrency to exchange)

    • If you choose to purchase cryptocurrency in Australia, these are the recommended exchanges​

      • BTC Markets - ​

      • Swyftx Exchange - 

  • Turn any funds to the base currency of the bot

    • OMEGA BOT - Turn to USDT

    • DELTA BOT - Turn to BTC

    • ALPHA BOT - Turn into USD stable-coins (There is a basket of these coins you can see on the exchange)
       

  • Activate an API on your exchange account by heading to API Management in the settings. Note - Keep the secret Key to yourself and do not share with others

 

Part 2:

 

  • Sign up as a copy-trader on Wunderbit https://trading.wunderbit.co/en/trader/register?ref=wbt017d6fde

  • Go to the API section and add your newly created API from your exchange

  • Find the BOT profile to follow in the Wunderbit Marketplace (Trader’s API Accounts Tab)

    • ALPHA BOT - Alpha-Bot-ALTS

    • DELTA BOT - Delta-Bot-ALTBTC

    • OMEGA BOT - Omega-Bot-BTCUSDT 

Step 6: It is now up to you to manage your own funds

 

  • Monitor the trades on YOUR OWN Wunderbit account and Trading exchange account. 

  • Stay up to date with the BlueSkyBreakout social channels here

  • Any help or questions, reach out to Wunderbit, Binance, FTX or the BlueSkyBreakout team for help. 

 

 

Step 7: Final thoughts

 

We are bullish bitcoin and cryptocurrencies here at Blue Sky Breakout. The long term charts are impressive and the fundamentals behind the space are always improving. Our recommendation (noting we are not financial advisors) is that if you are interested in cryptocurrencies, diversify into long term holdings of Bitcoin or some other well researched Altcoins, then if you feel comfortable on the exchanges and understand how trading works, set aside some capitol for other trading systems, wether it will be trying your hand at manual trading, or letting the Blue Sky Breakout automated trading bots do this for you. 

 

Please don’t take any risks you cannot afford to lose and remember, the market opens each day and with each day comes a new opportunity. If you think you've missed the boat or are too late for cryptocurrencies, I suggest you ask around and see how many people you know have some.  Then decide if you are late or not. 

 

Good luck.