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RE: Master Trader Activated on Bybit =)

in LeoFinance2 years ago

Yikes!
Please make sure there are fail-safe and force invoke SL if there's a "slip" or "delay"
A coder (also an ambitious trader + fund manager) who had a team working together was doing this, thought they switched off their bot during the last US debt ceiling debate, around after 4h July, the bot "was switched on" and the SL was "switched off" resulting MC. Those who didn’t do copy trade but rather parked their funds with this account all got their investment and savings rekt (some took out the capital early enough) and this group of people also saw their "backup fund" for failsafe was drained as well.

All because the password to the bot was opened to the entire team.....

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on bybit ... you can set the SL and does not need to be coded. Besides its a DCA strat and there is the big question would be .. to DCA or too SL. Not being ambitious, just sharing my trade strat which uses really small amounts (min notional size) to trade. Max trade count is 10 .. so that's my mitigation.