Monthly Insights - April 2023 Performance Recap
Welcome to our monthly trading bot performance recap newsletter (April 2023)! As always, we are excited to share the latest insights, news, and updates about our trading bots and the markets they operate in. This month's issue includes:
- Trading Bot Performance Highlights
- Market Analysis & Trends
- Bot of the Month
- Upcoming Enhancements & Updates
- Q&A and Community Insights
Trading Bot Performance Highlights
Overall April was a solid month for our trading bot lineup. Cosmic Cupcake was the top performer by a wide margin, with Short Bread and CinnamonToast coming in second and third. But 3 of our 4 strategies had a pretty profitable month. French Toast ended the month slightly down but closed out a nice 5.5% short to close out the month.
Below a snapshot of the results for each bot, not including leverage used:
- Total ROI: 27.92%
- Win Rate: 73.75%
- Number of Trades: 58
For more detailed performance metrics, check out our Performance Dashboard.
Market Analysis & Trends
In this section, we'll provide an overview of the market conditions and trends that influenced our trading bots' performance this month. Key topics include:
The first half of April we continued the upwards bullish momentum to reach new market high’s not seen since May 2022. That high of 2140s has a little bit of market history to it. It has acted as a mild support level a handful of times in Ethereum’s price history and now appears to have set a new resistance level as buyers turned to sellers and profit taking began.
April’s worst day of the month is by far April 19th. In just 15 minutes BTC fell 5% and happily liquidated quite a few investors along the way. This was later found out to have come from one whale sized 16,000 BTC sell order worth over $450 Million at the time. That splash set the tone for the rest of the month and that 2140 ETH level has yet to be broken since.
As we leap into May look deep into the channel that is being formed on ETH as we speak. Our bottoms are 1820s and our tops are near 2140s. Look to lower time frame charts to help identify entries and exits and scalp within the momentum. This method works better than trying to time bottoms and tops of the channel.
Lower Time Frames(3min,5min,15min):For Longs: Look for oversold areas and trade bullish price action up until 2080s.For Shorts: Look for overbought areas and trade bearish price action down until 1830s.
Breadwinner of the Month
Each month, we spotlight a trading bot that has shown exceptional performance or potential. This month's featured bot is:
- Strategy: Cosmic Cupcake is expertly tailored for day trading ATOM, utilizing sophisticated strategies and adaptive algorithms to swiftly identify lucrative trading opportunities.
- ROI: 24.99% (1x leverage) 87.08% (3x leverage)
- Win Rate: 79%
Cosmic Cupcake had an absolutely killer month of April. It capitalized on ATOM price action and had some timely entries and exits to capture large profits throughout the month. Cosmic Cupcake executed 24 trades and had 19 wins and 5 losses for an average win rate of 79%. We delivered a pretty substantial upgrade to this strategy towards the end of March and it was great to see the performance improvement throughout April.
Which bot do you think will take home the Breadwinner award for the month of May?
Learn more about Cosmic Cupcake and how to add it to your portfolio here.
Accomplishments & Updates
Our team is continuously working on improvements and updates to enhance your trading experience. Here's what we accomplished and what to expect in the coming weeks:
Our team got a ton of stuff completed throughout what was a busy month of April.
- Completed and released our new and overhauled website. Our new site gives you more streamlined information about what we have to offer.
- Unveiled our FREE trading dashboard. You now can export your log files from your exchange and drop them into our dashboard and get a beautiful interface to display all of your data.
- Released a new Alpha Strategy on DOGE. This is FREE to anyone in our Discord community and since we released this strategy in early April, it has done 18.14% no leverage.
- We attended the largest crypto conference called Consensus and had a booth at the conference, we had some great conversations with other big players and projects within the space and got additional visibility on our team and our brand.
Some of the big things we are working on for this month include:
- Strategy Optimizer: We mentioned this last month, and it is something that is carrying over into May. We have been hard at work building out an optimization and data analytics tool that will allow us to fine tune our strategies so you as the user can get the most out of them. This optimization tool will use a variety of different languages and some levels of AI to help us craft consistently top performing strategies and stay ahead of the market
- Trade Logs Visualization: We are working on some improvements coming to our trade logs, some of these updates will be visual and allow you to see your data in a cleaner way, as well as providing some additional data points for you to better visualize results within the logs on our website.
- Special Project: We have been working on a little side project the last couple months, our goal is to have it released by the end of May. Fingers crossed we will have it done and be ready to share it with you. 😉
Stay tuned for more updates via our Discord.
Q&A and Community Insights
In this section, we'll answer some frequently asked questions from our community and share valuable insights from fellow users:
- Q: Why has Cinnamon Toast been taking less trades?
A: This has become a common question over the past 30 days or so. Users trading Cinnamon Toast wondering why it has taken less trades over the last 30-45 days. Back on 3/10 we implemented a volatility index which makes Cinnamon Toast trade a bit safer and more calculated as it waits for volatility in the market along with other factors to identify entry points. Since making this update Cinnamon Toast has performed exceptionally while taking less trades. Since 3/10 Cinnamon Toast has taken 10 trades and had 9 wins and 1 loss. The reason Cinnamon Toast has taken less trades is due to a variety of factors, yes the volatility index we created has cut out some trades but mainly it is due to the market being relatively flat. Remember that Cinnamon Toast trades pullbacks, so when market is flat or in an uptrend it may take fewer trades. Looking back at our previous version of Cinnamon Toast before the volatility index, it has only taken 3 more trades than the current version, 2 of those being losses which we avoided. So yes, the new version will take less trades, but also current market conditions just have not presented as many trade setups as we normally would get.
If you have any questions or suggestions, feel free to reach out to our support team or join our Discord.
That's it for this month's recap! We hope you found the information valuable and look forward to bringing you even more insights in the next edition.
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