June 2, 2023
June 2, 2023

Monthly Insights - May 2023


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June 2, 2023
June 2, 2023

Monthly Insights - May 2023

Welcome to our May 2023 monthly trading bot performance recap newsletter! 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:

  1. Trading Bot Performance Highlights
  2. Market Analysis & Trends
  3. Bot of the Month
  4. Upcoming Enhancements & Updates

Trading Bot Performance Highlights

May has historically proven to be a challenging month for traders. However, in the midst of market volatility, two strategies, Cinnamon Toast and Short Bread, managed to end the month in profit. On the other hand, Cosmic Cupcake and French Toast experienced losses, concluding May in the red.

Below is a snapshot of the results for each bot, not including leverage used:

  • Total ROI: -4.48%
  • Win Rate: 62.65%
  • Number of Trades: 66

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.

May Sideways Trading for BTC:

May started on a positive note as the first week showed a bullish trend, especially for Bitcoin, which experienced a promising reversal following April's performance. However, this upward momentum led many investors to take profits, resulting in a significant decline of over 10% for BTC within a single week. Following this decline, prices remained relatively stagnant, trading within a narrow range. The market lacked significant movements until rumors surfaced regarding the potential raising of the debt ceiling. Despite these developments, BTC closed the month with a negative return of -8.75%.

Breadwinner of the Month

Each month, we spotlight a trading bot that has shown exceptional performance or potential. This month's featured bot is:

Short Bread

  • Strategy: Short Bread employs multiple time frame analysis to effectively trade Ethereum, harnessing diverse data-driven insights to execute well-timed entry and exit points.
  • ROI: 5.56% (1x leverage) 23.16% (5x leverage)
  • Win Rate: 75%

Short Bread has been a pretty consistent performer over the last 90 days, coming in second place for bot performance the last two months. But for the month of May, it was able to beat out the competition and shine as the top performing strategy. Short Bread started the month with a bang ripping 9 consecutive wins in a row before taking a loss mid month. It cooled off a bit late in the month giving back a bit of profit but overall it ended the month with 20 trades, 15 wins and 5 losses which resulted in a 75% win rate.

Learn more about Short Bread and how to add it to your portfolio here.

Upcoming Enhancements & May Updates

Our team is continuously working on improvements and updates to enhance your trading experience. Here's what to expect in the coming weeks:

  • French Toast: As a business owner and strategist, there are moments when difficult decisions need to be made. In the past couple of months, our team has dedicated efforts towards enhancing our French Toast $BTC strategy. Although we did manage to identify certain minor improvements, the strategy's overall performance during the team beta phase fell short of meeting the high standards set by BreadBytes. Therefore, after careful consideration, we have reached the decision to retire French Toast from our lineup. You might be wondering if this is the last time you will see a $BTC strategy from BreadBytes and the answer is: Stay Tuned. You never know what might pop up in Alpha Strategies.
  • Baking Profits: If you haven’t heard, we released a Podcast! Our podcast is called Baking Profits and you can find it on any of your favorite platforms to listen to podcasts and we also have a video version of the podcast on YouTube. We are very excited and proud of releasing this and hope that you give it a listen and share your thoughts and feedback with us. We currently have 2 episodes out with a third one releasing on Tuesday. We will be moving to bi-weekly episode releases on Tuesdays starting in June.
  • Cosmic Cupcake Enhancements: Now that our Cosmic Cupcake strategy has been out for a little over 3 months now, our team has been able to analyze the data and performance of the strategy and identify some key areas we can improve performance through some tweaks to the way the algorithm works with ATOM. We are currently in our final stages of testing this update and it should be rolled out to all subscribers in June.
  • Buffer V2: We have been working on a V2 of our patented trailing stop loss buffer that we introduced to our strategies 4-5 months ago. Our V2 buffer functionality will introduce new take profit mechanics on the short side of trades as well as the ability to identify stalls in price action and move the stop loss tighter to existing price to maximize potential returns on a winning trade. We hope to roll this out to all of our strategies in the month of June.

Stay tuned for more updates via 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.

Happy trading!

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