Earning NIOX by letting a bot do the trading - Day 3
If you haven't been following this journey already, you may look a few posts back where I explained this earndrop campaign and how anyone can still join until the 9th of February. Today was a good day as I managed to
Overnight session - 577 minutes (+$2.34)
I left this one trading for the night with a hanging orders on and as the price went out of the range, trades didn't happen as frequently. But I'm still in profit and I'm delighted that the bot worked without distractions for the whole night.
Second session - 25 minutes (-$0.49)
As I started this session, I checked on Binance to see which trades are happening and if the spread of 0.21 enough for me to remain in profit. As I checked it out, I saw that it's not enough and I have to change some settings. I stopped this trade and started another which is still on.
Ongoing session - 589 minutes and counting (+0.81)
This time, I put a spread to 0.35% on both sides, hanging orders on, and refresh time 60 seconds. In almost 10 hours, the bot has made 23 trades and I've gained more than $0.68. To check out if it's true, I went on my Binance trading history.
Real data
Here you can see my last four trades (two buys and two sells). As my order size is 16 ALGO, the bot will always buy and sell exactly this amount. As you can see, both trades made about 3 cents profit and the BNB is the fee. Below, I calculated if the profit is bigger than my fees.
Calculating Fees
This is a rough estimate of 0.00016 BNB x 4 trades = a little over 3 cents. This means these trades were in profit and that's why I haven't stopped the bot just yet. On my next session, I might try an even bigger spread.
Conclusion
I'm really enjoying this campaign. Not only the fact that every minute gets me a NIOX token but also that I'm learning new things every day. When I'm trying different settings, I can watch live how the bot is doing, and then I can change settings and observe the trades again. A week ago, I didn't what the spread in trading was. Learning is cool and earning is just as cool! This campaign combines both of these things together.
Thank you for reading!
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