Since cryptocurrency trading bots have long ago penetrated the crypto market, it is always interesting to hear how do people who develop them think. Since CoinSyncom is always going to try to provide many different perspectives on the market, we have invited a real bot developer to have a pleasant chat.
Sasha Tang (Sale) is a cryptocurrency miner, trader, and above everything else, a trading bot developer from Novi Sad, Serbia. His team of programmers has launched a state-of-the-art trading algo not so long ago. In order to learn more about their venture as well as about the man himself and his views of the market, we approached Sale in a Crypto Traders Balkan Facebook group. Usually, these guys are rather fond of their privacy. However, remarkably, Sale was really friendly and immediately willing to hear us out.
As a result, you get the chance to see this interview.
Sale, the first question that I have to ask is, what’s more painful, developing a crypto trading bot or programming it to be profitable?
The hardest thing is to make it profitable long term.
Because every trading “edge” has a flaw, and when you know in which scenario your edge is not good, you need to stay out of the position. Forcing the algo (bot) to do the same is the hardest part. A few times, I just wanted to give up because I could not “explain” all the scenarios. If I didn’t have the experience with one of the biggest Swiss projects for Market Making bots, it would take me a decade to understand it by myself. I surely wouldn’t succeed.
However, having that experience, and going deep into the understanding of the market and its flaws and edges… Well we got it, the ultimate bot that works on all the markets, not just crypto.
How did you get into crypto?
I saw one dude getting out of a PC store carrying some “big” stuff (probably some kind of ASIC miner), and I didn’t know what that was. My friend explained it to me, and, once I understood the technology and all the benefits that it brings, I just wanted it.
How long have you been a trader? Have you traded anything else except cryptocurrencies?
I have been a trader for 3 years, but a profitable one, for 2 years and counting. Traded almost all the options and futures markets. However, I still didn’t get into stocks. Maybe in the future.
Did you use other bots before developing your own? If yes, which ones?
No. Before my time with that Swiss project, I wasn’t into bots at all. I knew that explaining trading strategies to a bot wasn’t simple, and I knew from the start the ones that work have to be expensive. Of course, in the beginning, I did not have enough capital to acquire it.
Why did you decide to develop your own trading bot?
Well, to be honest, why would I do all the heavy lifting? (Laughs)
When I saw that the program is much faster and it can remain active 24/7, it only remained for me to manage it from time to time.
I know all the secrets we used in a mentioned big project I was involved in, and I just added a few things I use in my trading style. Moreover, the money was good for selling one. My funds grew, so now, I do not have to work anymore.
Officially, I am retired.
Which exchanges can the bot be used for?
I made the first bot for the Bitmex exchange. However, since I was alarmed that the “big boys” would see it in the order book, I made it a limited edition. Only 10 licenses and those sold out in 10-15 days.
Then, I figured that I would make more money by trading all the markets. Still, I did not want or had time to write all the code myself. Therefore, I made it work on all exchanges and trading platforms that support MetaTrader 5. So now, it’s usable on all the most important trading platforms.
Does it do arbitrage?
No. I can make it do arbitrage, but one needs a large pool of funds for it to be worth it. I wasn’t interested in that since my capital was way too short for that kind of trading.
How many people were involved in the making of your trading bot?
Officially, 5 of us. But with some significant help from Swiss friends. Counting in those who helped with the code, approximately 10 people.
In your opinion, what is the impact that trading bots have on the overall cryptocurrency market?
In every market, there are trading algos. Even in the NY, Chicago, and London stock exchanges. People just look at it to be sure that everything works as it should. So, it’s just normal to have it in crypto now, because crypto is an asset for trading just like all the others.
Do free trading bots work?
Every bot works!
It works how it’s programmed to work. However, a free one usually works on one parameter or one indicator. As I mentioned before, you have to know the downside of your edge. Your free bot will work only in one scenario that you based it on. Consequentially, it will work maybe 10-20% of the time profitably. The rest of the time, it will just lose money.
As a developer, apart from the trading bot, were you involved in any other crypto-related projects? Which ones?
I was working on some websites a long time ago but I signed an NDA just the same as with the Swiss project.
Sale, you are from Novi Sad. How would you describe the cryptocurrency scene in Serbia and Balkans in general?
Crypto in Balkan and Serbia is still too fresh. Only a handful of people understand it properly. We’ll get on this train, however, when the rush is almost over and crypto becomes an everyday means of payment.
From your perspective, where do you see the price of Bitcoin (BTC) at the end of 2020?
As a trader, I go level by level. Again, as a trader, I anticipate a small correction now, followed by the pump. Where exactly(?), we will just have to see.
As a believer, I want to see a small correction after halving and a new all-time high at the end of this year.
Then, Sale turned his attention to a fun fact that some may know and can be significant to all the Moon Boys partying around:
BTC has never in its history made a new all-time high before halving.
In the end, the question we always like to ask; if you were Satoshi’s friend 10 years ago and knew he was about to launch Bitcoin, would you have any advice for him?
I would tell him:
“Dude, please just do not forget to leave some sort of proof that you are not the CIA or Craig Wright so we could just enjoy the ride instead of losing our minds fighting who Satoshi really is. (Laughs)