Warning: Steem witnesses executed a hard fork on 2020-05-20, seizing 23.6M STEEM from 65 accounts. The funds were transferred to an account named @community321, the ownership (and intentions) of which have not been revealed. The witnesses claim to have been targeting accounts which defended against a hostile takeover in early March, but at least 2 accounts on the list have been inactive for over 4 years.

Coverage:
- Decrypt.io: Steem network to seize $5 million from its own users
- SteemPeak.com: Official Announcement by @softfork22888
- GitHub.com: view steemd HF23 changes

What you can do:
- Send exchanges a notice of the pending class action lawsuit.
- Switch to HIVE, the community-led fork. Visit Hive.blog and Hiveblocks.com.

THINGS CAN GO BAD TOO - LICKHUNTER CRYPTO TRADING BOT by cryptoxicate

View this thread on steempeak.com
· @cryptoxicate ·
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THINGS CAN GO BAD TOO - LICKHUNTER CRYPTO TRADING BOT
![things-can-go-bad-too-lickhunter-crypto-trading-bot](https://cryptoxicate.xyz/wp-content/uploads/2020/11/LIQUIDATION_HUNTER_0005_Banner_Cryptoxicate_com.png)

The purpose of this article/video is to show you that a trading bot can also make you loose money IF you are not diligent and monitor what its doing, trading bot are tools not auto money printing machines.

For some reason when you mention a trading bot to people they usually relate to two things, a robot and easy trading, after three years almost four now of being in crypto I have learn that trading even when its under an automatic process like a trading bot is not easy at all, I have use so far 5 trading bots and so far none is a setup and forget, all of them need to be monitor and adapt to market conditions, Lickhunter is not the exception.

Lets think of what Lickhunter does, it basically counter trade the trend of the coin based on vwap indicator, if we think about it would this really work doing it manually, most likely not since you would have to do the math automatically of how many times you are going to dollar cost average based on your wallet size and this is the part that the bot does great, counter trading is not so smart since as the old saying says "The Trend is your friend until is not" this means go with the trend, if the trend is up then go LONG if the trend is down then go SHORT and to identify this trends there is study and analysis that needs to be done before jumping into a trade so basically what the bot does about counter trading is not ideal but its possible, although at the same time that's why sometimes you will have to encounter situations like the one I describe on my video. (https://youtu.be/qn0J-UkzzvI)

In crypto you essentially learn the most with expirience, 2020 has been a year full of experiences for me, I was there buying and holding crypto on 2017 but was not actually trading as much as I do today so this is the first bull run where I have a more clear idea of whats going on, why and where are we potentially going, its no different with the Lickhunter bot I already have more than two months running this both and have gone through the September correction and the must recent pump that started in October, I have seen prices go down more than 25% in a day and go up 50% in a day for reputable coins and crappy coins, for this I have put rules in place that aloud me to in a sense counter trade the outcome of the bot.

Rules:
- Never go lower than 3.2 vwap and only go up if volatility increase
- Never aloud more than 10% Max Pos (Now Change to 5%)
- Recently setup stop loss at 12%
- Stop the bot after a loss
- Depending on the market bot doesn't need to trade every day
- Counter trade the bot if volatility is high, example if the bot is long on coins because the market is dropping then look for a coin that you can short as a hedge.
- Daily review the bot trades, what coins are trading the most, why they trading the most and what coins are not

Here the AAVE chart and the monstrous candles of last week:
![](https://cryptoxicate.xyz/wp-content/uploads/2020/11/Pasted-into-THINGS-CAN-GO-BAD-TOO-LICKHUNTER-CRYPTO-TRADING-BOT.png)

This are some of the rules that I have been implementing with time, at first this was totally different, I was not using stop loss, max position 100%, vwap 2.5 and forget about daily reviewing the trades, as long as the bot was making money on automatic I was cool with it, it work for sometime until it start loosing considerable amounts compare to what it generated on daily bases, that's the reason I start running multiple bots and a second account like a "savings account" with very safe settings.

The lower the vwap and higher percent balance the more money you will make until the market turns around and is not in your favor anymore, that's inevitable and take in consideration that if you trade many coins the risk increase.

Before the US elections I took the decision to keep the bot at vwap 3.5 because I was anticipating high volatility and more on the short side but the market did the opposite and even at 3.5 vwap as you will see on the video AAVE went up 48% in a matter of days and it was just two candles that did the damage, as a result I lost a good portion of the bot income although what saves me in that case was the "counter trade" I had open, I don't trade ETHEREUM with the bot because I consider is highly volatility when it goes up although I was able to identify its trend and open a long position and I was able to refund what I lost with the bot, its not ideal because you want the bot to make money basically on automatic but you should consider a bot as a TOOL and not as your employee or slave.

So at the end of this story, yes things can go south its not all pink and you can loose money if you are not diligent and monitor what the bot is doing, if that's the case that you cant constantly monitor the bot then when you are not online you can use higher vwap with lower percent balance or just shut it down and start the bot once you are able to monitor what it is doing.

I hope you find this article useful and helps you as this basic rules have help me.

Dont forget to like, subscribe, share, follow and all those social media things that can help me spread my content
Thanks


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<iframe width="560" height="315" src="https://www.youtube.com/embed/qn0J-UkzzvI" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>

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