Hello! Alexander Glebov is with you again — the algotrader of the AKRA Futures robots project. So, the fifth month of algorithmic trading on Binance has ended. This trading period cannot be called successful, but it is also not a failure — after all, as a result, the robot team not only saved the deposit, but also increased it a little.
Taking into account the fact that the senior financial analyst at Investing.com Jesse Cohen declared October a terrible month for cryptocurrencies, our trading robots coped very well, recording a profit of 0.0442%. This is a good result for the crypto market, frozen in anticipation, especially compared to manual trading, which brought only losses to many crypto traders in October.
Each of the 14 cryptocurrencies with a market capitalization exceeding $1 billion ended the month in the red. What can we say about other cryptocurrency assets then — their exchange rate was also seriously feverish. Let's analyze in detail how our trading robots coped with the difficult task of trading in a chaotic crypto market on Binance in October.
Robot AAVEUSDT
This month, the crypto bot could not please — there was a loss of 10.313 USDT.
Although in general, the crypto robot was quite active, revealing a lot of patterns for opening positions in both short and long. However, the vast majority of forecasts turned out to be incorrect, only in the middle and at the end of the month he managed to make a big profit on a sharp jump in the exchange rate, almost covering the loss.
The reason for the failure here is market chaos. If traders in such conditions either do not trade at all, or drain a significant part of the deposit, our robot still tried to earn. It understands the jumps of the cryptocurrency exchange rate well, but his analytical abilities are not yet enough to accurately predict the price during periods of small movements near the flat.
Robot ADAUSDT
If we compare with September, the crypto robot corrected itself and recorded a profit on Binance in the amount of 9.7303 USDT by the end of October. Few transactions were concluded during this period, successful orders prevailed, which gave a large profit.
The reason for the successful trading of the ADAUSDT is the predictability of the cryptocurrency exchange rate this month. Its volatility was high, but sharp declines and price increases were predictable precisely due to the wide amplitude of the movement. The cryptobot got strong and stable signals for making deals, which are impossible to get during periods of calm in the market.
Robot ALGOUSDT
In October, the profit of this bot was 7.34153 USDT. Less than in August, July and June, but still not bad, given the market situation.
The crypto robot successfully coped with serious drawdowns in the value of the cryptocurrency pair, which were in the first half of the month. Although only one long trade was successful, it covered all losses on other positions.
Robot ALICEUSDT
This cryptobot ended October with a minus, its loss was 25.8634 USDT. Although it started the month quite well — it earned two longs in a row. Then there were failures.
If we compare the statistics of transactions with the movement schedule of the cryptocurrency pair for October on the Binance exchange, then the reason for the failures becomes clear — since the second half of the month, unstable sideways movements have started, which did not allow the bot to form accurate patterns.
Towards the end of the month, the situation stabilized, and the cryptocurrency exchange rate even broke through the upper level, coming close to the September values. At this time, the bot has opened several positions in the short — let's see if it will be able to hold them and close them in time in the next period.
Robot DOGEUSDT
After a small setback last month, in October DOGEUSDT showed a good result, its profit was 19.92826 USDT. Even the flat mood of the cryptocurrency pair did not prevent success.
As always, the bot demonstrated excellent optimization — many transactions were made. This means that it understands the market perfectly and easily makes forecasts — there are more than enough technical analysis tools at its disposal.
Robot NEARUSDT
The profit of this robot for October was 14.62000001 USDT. Few deals were made, and there were noticeably more unsuccessful orders than successful ones.
Having failed on the fall of the exchange rate and subsequent movements within the support−resistance corridor, NEARUSDT successfully put on a short at the end of the month, earning the main monthly capital on only two short positions.
Robot RUNEUSDT
In October, this cryptobot lost 56.283 USDT on transactions. Although last month he showed an excellent result, practically pulling out the entire team.
Of the 13 closed deals, only one turned out to be successful. It was a long position that the bot closed right at the peak — a few more hours, and it would also have brought a loss. The bot perfectly recognized and worked out this pattern, which cannot be said about others.
The trading activity of the robot was higher than last month, but the exchange rate of the cryptocurrency pair was different — it was too volatile, saturated with big jumps and falls. The robot is not used to this, because before that it traded in relatively calm conditions when the market was closer to the flat. All failures are already recorded in its memory, so the probability of a reaction to such erroneous patterns in the future is much lower.
Conclusions
October 2022 was another difficult month, in which the previous period of relative flat was replaced by high volatility, making it almost impossible to make any reasonable forecasts of the further movement of the cryptocurrency exchange rate. But such market dynamics allowed AKRA Futures robots to be tested for strength and showed that in stressful market situations, the team is able to save investors' capital.
