Getting Started with ProfitTrailer

ProfitTrailer can seem complex and overwhelming at first.  You need to figure out how to configure it, how to run it and then how to trade with it.

This is not a guide or walk through, but more of a checklist of what you will need to know to be successful and to start up without risking your life savings.

  • It is a trading bot. A tool to help you make trades. There are no magic buttons to make profit. Think of it as the nail-gun you are going to need to build that house.
  • ProfitTrailer is a self-contained Java file. This means that any computer with enough memory, the correct java version and enough horsepower is able to run it. It will require a solid internet connection, and can use up to 1TB of data a month.  Minimal Requirements
  • It was written by programmers and trade geeks. While the user interface is slick, and gets better with time, you will be required to edit text configuration files to set things up.
  • It runs best on a dedicated computer. Most people choose to run it on a VPS. That’s a Virtual Private Server – something you lease (<$10 usually) but will need to know how to operate and setup.  My Favorites: ContaboVULTRWestHost

Intimidated yet? If not, let’s see what’s next.

  • I’m not going to explain how to set things up. There are guides to help you: Getting Started
  • Learn to trade BEFORE you start your bot. Yes, you need to know how to trade crypto.  Open your account(s) on an exchange, transfer some BTC into the account. Do some manual trades. Get to learn how that exchange ‘feels’. You will start to notice very quickly how some coins move quickly, others move more slowly, and trades you think should happen won’t.  This is going to help you immensely when you are telling your bot how to trade.
  • Learn how to chart.  The bot uses specific strategies (Buy & Sell) which can be charted at your exchange. Seeing what they look like and understanding what they mean is the most crucial lesson and the most important thing you need to learn.
  • I highly suggest that you first setup the bot in test mode.  This allows you to edit your changes and try things without risking actual money.  It may seem like a pin, and it will delay the start of your real trading… but it’s much better to make mistakes with play money then real money. Test Mode
  • When you move to begin real trading, start small. Don’t let greed get in the way. Start small. I recommend 5 coins, and I highly recommend trading a very small amount per coin (0.005 BTC per coin) to start. It’s low risk. And while it may not feel good to see a sale go down and you only make 10 cents – you are looking for the sale to go down and getting a percent return on those sales. Goals. Low Risk. Stick to it for a couple of weeks – you need to see how the market can swing and cycle, and what happens when things go badly. Because they will.
  • Finally – get involved in the Discord community. There are lots of people to help you learn and a support staff to help you when needed. Discord

Crypto Bot Settings: Why you should never pay for them!

So begins a great read – and a worthy article to pass along to everyone you know. People selling settings are a dime a dozen, taking advantage of people and basically stealing their hard earned money.  BotWaldo and CryptoBotSettings  come to mind right away, but there are many, many more.

Before you head over to it, take note: NO ONE can guarantee you will make ANY money trading crypto currency. Anyone that says they will guarantee you 3% or more returns is just lying.  LYING.  They are also providing illegal services in most 1st countries – it is illegal to give financial advice unless you are licensed appropriately.

With that – check out this read. Pass it on. Help us spread the word by donating a few coin, which will be used to buy ads in order to compete with these clowns.

https://medium.com/@helmi/crypto-bot-settings-why-you-should-never-pay-for-them-eb17fa59986

Referral Links

I’m not much on actually doing anything with my own site. So not a lot of content here. IF YOU WOULD LIKE TO HELP GET THIS SUCKER RUNNING, SEND ME A NOTE.
Having said that – Thanks for showing your support! Using my referrals helps keep me providing support to the Profit Trailer community, and goes a long way. I have never been one to play the referral games, but you guys have been very good to me!

Profit Trailer

Purchase Profit Trailer
I am an Authorized reseller of ProfitTrailer, and proudly support it. The bot has done very well for me, as it has for anyone willing to take the time and effort to learn how to use it. You do need to know some computer skills, like unzipping and editing. You also really need to know how to trade at the exchanges.

You will need an API key during the checkout process, so head to your exchange first.
Set up two API keys that allow everything except withdrawal. (On Bittrex, the secret is only shown once, save it somewhere safe!)
Use one API Key (not the secret) during checkout – this will be your Profit Trailer Authorized key (default api key in config). The bot uses this key to validate your license as it runs.
The other key is does all the heavy lifting – the trades, and it will go into the trading_key of your config.
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After your payment is confirmed (can take HOURS, make sure you send enough to cover your fees), you will get an email with a license key and a link to the install instructions (which you can see ahead of time at https://github.com/taniman/profit-trailer. Save this license number!. SAVE IT. Keep this license key on file – you use it to authorize more keys, remove keys, etc. using the pt assistant.  You can have 2 authorized keys per license for your own use, so you can run 2 bots if your feeling botty.

BINANCE

Binance
What can I say? Binance has become THE top exchange for crypto trading.  High volume means lots of traffic. I love it. Another quick note: use BNB to pay for fees. Buy some BNB, trade enable false for it in ProfitTrailer. Makes for the lowest trade fees you will find anywhere.

KUCOIN

KuCoin
It’s coming…. KuCoin trading on PT!

VPS

WestHost VPS
I really, really like WestHost. for running one or two bots, the price is fine – the servers are fantastic.  Running more than 2 bots you get into memory and bandwidth requirements that make WestHost a little more pricey than my second favorite VPS provider (below).  Look in the WestHost Pro section for SSD VPS Options. I run 2 of the $16 versions.

Contabo VPS
Contabo has the best memory to cost ratio I have found. The servers are good, and if you will be running multiple bots you will need the memory. You can run the cheapest SSD version and have plenty of room for growth.

COIN TRACKING INFO

CoinTracking Info
Cointracking is a reporting tool that connects directly to your exchange(s) and can automatically pull most data into one easy to use place. Very very handy if you like stats and reporting. This referral gives you a 10% discount!

TAXES

Bitcoin Taxes
Yeah, most of us have to deal with it. BitCoin Taxes makes it easy. See how any transactions you had for the last calendar year – and use that as your basis for what plan you need to get. Yes, I find I am in the 50,000 range. God times.

Other Stuff

CLOUD MINING

I’ve been a hardware miner since I could mine BTC with just a CPU. I still have a rack of ETH miners sitting in a data-center in Washington State – still churning away. It’s just fun.   I’ve also played the cloud mining game. BW and Hashnest did well for me, Genesis did so-so. Hashflare is currently my favorite. It’s just passive income – high risk, no guarantees etc. BUT if you want to cloud-mine – here’s the referral. https://hashflare.io/r/53B90079