Would This Bot Work To Make Profits?
So I was sitting around yesterday and thought... wow, there are a lot of pump and dump groups!
So I researched them to see how I could take advantage of them. Then I realized it was not possible by joining the groups... So I came up with an idea, anyone who has experience trading please let me know if this would work.
So my Idea was to invest X amount of money into like 20 of the smaller coins on binance. Then I will create a bot to sell if the worth spikes up X%.
I understand that a lot of coins will fluctuate while I hold and I might not see a pump for weeks on those coins, but think about it. When it does catch a pump it would yield high profits right?
Just an Idea, let me know what you guys think.
If it will work let me know and I might code something up.
Don't really need a bot to do that imo. Just buy a few of the bottomed out coins and set a limit sell order for say a 30% profit.
That's right. Just calculate the fee cost and based on them set your sell oder limit. That's what I do.